PG&E (NYSE:PCG) announced its earnings results on Thursday. The utilities provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.01 by $0.10, Fidelity Earnings reports. The company had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.39 billion. PG&E had a positive return on equity of 15.16% and a negative net margin of 53.07%.
Shares of PCG traded up $0.46 during trading hours on Friday, hitting $6.48. 15,330,147 shares of the stock traded hands, compared to its average volume of 15,338,995. The company has a current ratio of 2.03, a quick ratio of 1.92 and a debt-to-equity ratio of 0.20. PG&E has a 1-year low of $3.55 and a 1-year high of $44.58. The firm has a market capitalization of $4.23 billion, a PE ratio of 1.62, a price-to-earnings-growth ratio of 0.91 and a beta of 0.32. The business has a fifty day moving average of $8.43 and a 200-day moving average of $15.40.
Several brokerages have recently commented on PCG. ValuEngine upgraded PG&E from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. UBS Group decreased their target price on PG&E from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Citigroup lowered PG&E from a “neutral” rating to a “sell” rating and cut their price target for the company from $12.00 to $5.00 in a research note on Friday, October 11th. Barclays cut their price target on PG&E from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 1st. Finally, Morgan Stanley cut their price target on PG&E from $23.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $16.70.
PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,000 circuit miles of distribution lines, 50 transmission switching substations, and 769 distribution substations; and electricity transmission network comprises approximately 18,000 circuit miles of interconnected transmission lines and 84 electric transmission substations.
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