Equities Analysts Issue Forecasts for PNM Resources, Inc.’s Q3 2024 Earnings (NYSE:PNM)

PNM Resources, Inc. (NYSE:PNM) – Equities researchers at Zacks Research raised their Q3 2024 EPS estimates for PNM Resources in a research note issued on Tuesday, May 21st. Zacks Research analyst J. Saha now forecasts that the utilities provider will post earnings of $1.41 per share for the quarter, up from their prior estimate of $1.17. The consensus estimate for PNM Resources’ current full-year earnings is $2.70 per share. Zacks Research also issued estimates for PNM Resources’ Q4 2024 earnings at $0.34 EPS, Q1 2025 earnings at $0.44 EPS, Q3 2025 earnings at $1.46 EPS, Q4 2025 earnings at $0.35 EPS and Q1 2026 earnings at $0.44 EPS.

PNM Resources (NYSE:PNM) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.27). The company had revenue of $436.90 million during the quarter, compared to the consensus estimate of $531.00 million. PNM Resources had a net margin of 4.38% and a return on equity of 9.91%. The company’s quarterly revenue was down 19.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS.

Separately, Barclays increased their price objective on shares of PNM Resources from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, PNM Resources presently has an average rating of “Hold” and a consensus price target of $44.75.

PNM Resources Stock Up 1.1 %

PNM Resources stock opened at $37.22 on Thursday. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 40.68, a PEG ratio of 5.50 and a beta of 0.35. PNM Resources has a 52-week low of $34.63 and a 52-week high of $46.94. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.27 and a current ratio of 0.37. The firm has a 50 day moving average price of $37.26 and a two-hundred day moving average price of $38.68.

Institutional Investors Weigh In On PNM Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. LRI Investments LLC acquired a new stake in shares of PNM Resources in the 1st quarter valued at about $30,000. Fortis Group Advisors LLC grew its stake in PNM Resources by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 800 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 400 shares during the period. GAMMA Investing LLC grew its stake in PNM Resources by 106.4% in the first quarter. GAMMA Investing LLC now owns 834 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 430 shares during the period. Fifth Third Bancorp raised its position in shares of PNM Resources by 152.3% during the first quarter. Fifth Third Bancorp now owns 1,062 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 641 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of PNM Resources by 4,061.5% during the fourth quarter. International Assets Investment Management LLC now owns 1,082 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 1,056 shares during the period. 91.68% of the stock is owned by institutional investors.

PNM Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were paid a $0.387 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $1.55 annualized dividend and a dividend yield of 4.16%. PNM Resources’s dividend payout ratio is currently 170.33%.

PNM Resources Company Profile

PNM Resources, Inc, through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity.