Zacks Research Comments on Exelon Co.’s Q1 2024 Earnings (NASDAQ:EXC)

Exelon Co. (NASDAQ:EXC) – Investment analysts at Zacks Research cut their Q1 2024 earnings per share estimates for shares of Exelon in a research note issued on Wednesday, May 1st. Zacks Research analyst J. Saha now expects that the company will earn $0.70 per share for the quarter, down from their prior estimate of $0.71. The consensus estimate for Exelon’s current full-year earnings is $2.41 per share. Zacks Research also issued estimates for Exelon’s Q2 2024 earnings at $0.46 EPS, Q4 2024 earnings at $0.61 EPS, Q2 2025 earnings at $0.49 EPS, Q4 2025 earnings at $0.60 EPS, Q1 2026 earnings at $0.73 EPS and FY2026 earnings at $2.75 EPS.

Exelon (NASDAQ:EXC) last released its earnings results on Wednesday, February 21st. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $3.87 billion. Exelon had a return on equity of 9.40% and a net margin of 10.72%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 EPS.

Other equities analysts have also recently issued research reports about the company. Barclays upped their target price on Exelon from $36.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. Wells Fargo & Company upped their target price on Exelon from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday. Seaport Res Ptn cut Exelon from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. StockNews.com raised Exelon from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. Finally, Bank of America decreased their target price on Exelon from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $38.83.

Exelon Price Performance

Shares of EXC stock opened at $37.41 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. Exelon has a twelve month low of $33.35 and a twelve month high of $43.53. The company has a market cap of $37.39 billion, a P/E ratio of 16.06, a P/E/G ratio of 2.76 and a beta of 0.53. The business has a fifty day simple moving average of $36.92 and a 200 day simple moving average of $37.05.

Exelon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, May 13th will be given a $0.38 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.52 annualized dividend and a yield of 4.06%. Exelon’s dividend payout ratio (DPR) is presently 65.24%.

Institutional Investors Weigh In On Exelon

Several institutional investors have recently modified their holdings of the business. Heritage Wealth Advisors lifted its position in shares of Exelon by 247.5% during the 4th quarter. Heritage Wealth Advisors now owns 695 shares of the company’s stock valued at $25,000 after buying an additional 495 shares in the last quarter. Register Financial Advisors LLC purchased a new position in shares of Exelon during the 1st quarter valued at about $26,000. Antonetti Capital Management LLC raised its stake in Exelon by 98.8% during the 3rd quarter. Antonetti Capital Management LLC now owns 805 shares of the company’s stock valued at $30,000 after purchasing an additional 400 shares during the period. Addison Advisors LLC raised its stake in Exelon by 50.3% during the 3rd quarter. Addison Advisors LLC now owns 825 shares of the company’s stock valued at $31,000 after purchasing an additional 276 shares during the period. Finally, Fortis Group Advisors LLC bought a new stake in Exelon during the 3rd quarter valued at approximately $31,000. 80.92% of the stock is owned by hedge funds and other institutional investors.

About Exelon

Exelon Corporation, a utility services holding company, engages in the energy distribution and transmission businesses in the United States and Canada. The company is involved in the purchase and regulated retail sale of electricity and natural gas, transmission and distribution of electricity, and distribution of natural gas to retail customers.