PNM Resources Inc. (PNM) Updates FY16 Earnings Guidance

PNM Resources Inc. (NYSE:PNM) issued an update on its FY16 earnings guidance on Friday morning. The company provided EPS guidance of $1.55-1.65 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.58.

Shares of PNM Resources Inc. (NYSE:PNM) opened at 32.75 on Tuesday. The stock has a 50 day moving average of $32.45 and a 200 day moving average of $32.97. PNM Resources Inc. has a 12-month low of $26.56 and a 12-month high of $36.15. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 6550.00 and a beta of 0.28.

PNM Resources (NYSE:PNM) last posted its earnings results on Friday, October 28th. The company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.03. PNM Resources had a net margin of 0.07% and a return on equity of 7.14%. The company had revenue of $400.37 million for the quarter, compared to analysts’ expectations of $740 million. During the same quarter in the prior year, the company posted $0.76 earnings per share. PNM Resources’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities research analysts predict that PNM Resources Inc. will post $1.59 earnings per share for the current fiscal year.

Earnings History and Estimates for PNM Resources (NYSE:PNM)

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 31st will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.88 dividend on an annualized basis and a yield of 2.69%.

A number of brokerages have issued reports on PNM. Zacks Investment Research upgraded shares of PNM Resources from a sell rating to a hold rating in a research note on Wednesday, September 28th. Argus cut their price target on shares of PNM Resources from $40.00 to $38.00 and set a buy rating on the stock in a research note on Thursday, September 22nd. SunTrust Banks Inc. cut their price target on shares of PNM Resources from $34.00 to $33.00 and set a neutral rating on the stock in a research note on Monday, September 12th. Williams Capital upgraded shares of PNM Resources from a hold rating to a buy rating and set a $35.00 price target on the stock in a research note on Tuesday, October 4th. Finally, Jefferies Group reiterated a hold rating on shares of PNM Resources in a research note on Monday, July 18th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. PNM Resources presently has a consensus rating of Buy and an average target price of $36.21.

A number of institutional investors have recently made changes to their positions in PNM. Point72 Asset Management L.P. bought a new position in shares of PNM Resources during the second quarter valued at approximately $2,892,000. AQR Capital Management LLC raised its position in shares of PNM Resources by 5.2% in the second quarter. AQR Capital Management LLC now owns 819,299 shares of the company’s stock valued at $29,036,000 after buying an additional 40,485 shares in the last quarter. Capstone Investment Advisors LLC raised its position in shares of PNM Resources by 41.3% in the second quarter. Capstone Investment Advisors LLC now owns 18,232 shares of the company’s stock valued at $646,000 after buying an additional 5,332 shares in the last quarter. Guggenheim Capital LLC raised its position in shares of PNM Resources by 14.6% in the second quarter. Guggenheim Capital LLC now owns 90,594 shares of the company’s stock valued at $3,211,000 after buying an additional 11,547 shares in the last quarter. Finally, Barclays PLC raised its position in shares of PNM Resources by 5.8% in the second quarter. Barclays PLC now owns 10,443 shares of the company’s stock valued at $371,000 after buying an additional 569 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.

PNM Resources Company Profile

PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico and Subsidiaries (PNM) and Texas-New Mexico Power Company and Subsidiaries (TNMP).

5 Day Chart for NYSE:PNM

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