SunTrust Banks Brokers Reduce Earnings Estimates for Exelon Corporation (EXC)
Exelon Corporation (NYSE:EXC) – Analysts at SunTrust Banks decreased their FY2017 EPS estimates for Exelon Corporation in a research note issued on Friday. SunTrust Banks analyst A. Agha now expects that the energy giant will post earnings of $2.65 per share for the year, down from their previous estimate of $2.70. SunTrust Banks has a “Buy” rating and a $41.00 price target on the stock. SunTrust Banks also issued estimates for Exelon Corporation’s Q1 2018 earnings at $0.71 EPS, Q2 2018 earnings at $0.59 EPS, Q3 2018 earnings at $0.92 EPS, Q4 2018 earnings at $0.66 EPS, FY2018 earnings at $2.88 EPS, Q1 2019 earnings at $0.67 EPS, Q2 2019 earnings at $0.56 EPS, Q3 2019 earnings at $0.88 EPS and FY2019 earnings at $2.73 EPS.
EXC has been the subject of a number of other research reports. KeyCorp restated a “buy” rating and set a $41.00 price objective on shares of Exelon Corporation in a report on Friday, September 1st. Bank of America Corporation started coverage on Exelon Corporation in a report on Tuesday, October 24th. They set a “buy” rating and a $43.00 price objective for the company. BidaskClub upgraded Exelon Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Zacks Investment Research upgraded Exelon Corporation from a “sell” rating to a “hold” rating in a report on Friday, October 20th. Finally, Citigroup Inc. upgraded Exelon Corporation from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $36.00 to $43.00 in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $40.64.
Shares of Exelon Corporation (EXC) opened at $41.27 on Monday. Exelon Corporation has a 1-year low of $29.82 and a 1-year high of $41.56. The stock has a market capitalization of $39,065.98, a P/E ratio of 16.41, a PEG ratio of 3.53 and a beta of 0.31. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 1.06.
Exelon Corporation (NYSE:EXC) last posted its quarterly earnings results on Thursday, November 2nd. The energy giant reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). Exelon Corporation had a return on equity of 8.19% and a net margin of 6.59%. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter in the previous year, the business posted $0.91 EPS. The company’s revenue for the quarter was down 2.6% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.3275 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.31 annualized dividend and a yield of 3.17%. Exelon Corporation’s dividend payout ratio is currently 58.74%.
In other Exelon Corporation news, EVP Kenneth W. Cornew sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $37.44, for a total transaction of $936,000.00. Following the completion of the transaction, the executive vice president now directly owns 28,363 shares in the company, valued at $1,061,910.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Mayo A. Shattuck III sold 567,070 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $40.12, for a total transaction of $22,750,848.40. Following the transaction, the chairman now owns 746,986 shares of the company’s stock, valued at $29,969,078.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,212,787 shares of company stock valued at $48,570,909. Company insiders own 0.70% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. raised its position in Exelon Corporation by 5.0% during the third quarter. Macquarie Group Ltd. now owns 35,700 shares of the energy giant’s stock valued at $1,344,000 after purchasing an additional 1,700 shares in the last quarter. Vaughan David Investments Inc. IL raised its position in Exelon Corporation by 4,250.1% during the third quarter. Vaughan David Investments Inc. IL now owns 309,991 shares of the energy giant’s stock valued at $25,413,000 after purchasing an additional 302,865 shares in the last quarter. Ameriprise Financial Inc. raised its position in Exelon Corporation by 1.7% during the third quarter. Ameriprise Financial Inc. now owns 3,812,046 shares of the energy giant’s stock valued at $143,602,000 after purchasing an additional 62,146 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Exelon Corporation by 11.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 96,976 shares of the energy giant’s stock valued at $3,653,000 after purchasing an additional 9,763 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Exelon Corporation by 17.4% during the third quarter. Russell Investments Group Ltd. now owns 1,796,030 shares of the energy giant’s stock valued at $67,642,000 after purchasing an additional 266,223 shares in the last quarter. Institutional investors and hedge funds own 77.44% of the company’s stock.
Exelon Corporation Company Profile
Exelon Corporation is a utility services holding company. The Company, through its subsidiary, Exelon Generation Company, LLC (Generation), is engaged in the energy generation business. The Company, through its subsidiaries, Commonwealth Edison Company (ComEd), PECO Energy Company (PECO), Baltimore Gas and Electric Company (BGE), Pepco Holdings LLC (PHI), Potomac Electric Power Company (Pepco), Delmarva Power & Light Company (DPL) and Atlantic City Electric Company (ACE), is engaged in the energy delivery businesses.
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