PPL (NYSE:PPL) Releases FY24 Earnings Guidance

PPL (NYSE:PPL) updated its FY24 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $1.67-1.73 for the period, compared to the consensus EPS estimate of $1.71. PPL also updated its FY 2024 guidance to 1.670-1.730 EPS.

PPL Price Performance

Shares of NYSE PPL opened at $32.56 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.11 and a quick ratio of 0.91. PPL has a 1-year low of $24.24 and a 1-year high of $33.38. The company has a market capitalization of $24.02 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 2.75 and a beta of 0.82. The business has a 50-day moving average of $32.33 and a 200-day moving average of $29.97.

PPL (NYSE:PPL) last posted its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.92 billion. PPL had a net margin of 10.17% and a return on equity of 9.26%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 earnings per share. On average, equities analysts anticipate that PPL will post 1.72 EPS for the current fiscal year.

PPL Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were issued a $0.2575 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $1.03 dividend on an annualized basis and a yield of 3.16%. PPL’s dividend payout ratio is currently 90.35%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their price objective on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Barclays lifted their price target on shares of PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Wells Fargo & Company increased their price objective on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Bank of America boosted their target price on shares of PPL from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Jefferies Financial Group initiated coverage on shares of PPL in a research report on Thursday, September 19th. They set a “buy” rating and a $38.00 price target on the stock. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.40.

PPL Company Profile

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.