Exelon (NASDAQ:EXC) Issues FY24 Earnings Guidance

Exelon (NASDAQ:EXC) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.40-2.50 for the period, compared to the consensus EPS estimate of $2.45. Exelon also updated its FY 2024 guidance to 2.400-2.500 EPS.

Exelon Stock Performance

NASDAQ EXC traded down $1.15 during midday trading on Friday, hitting $38.15. The company had a trading volume of 7,671,481 shares, compared to its average volume of 6,760,974. The company has a quick ratio of 0.93, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. The stock has a market cap of $38.17 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 2.88 and a beta of 0.53. The firm has a fifty day simple moving average of $39.66 and a two-hundred day simple moving average of $37.71. Exelon has a fifty-two week low of $33.35 and a fifty-two week high of $41.48.

Exelon (NASDAQ:EXC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.04. Exelon had a net margin of 10.60% and a return on equity of 9.47%. The company had revenue of $6.15 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period last year, the business posted $0.67 EPS. The business’s quarterly revenue was up 2.9% on a year-over-year basis. Equities analysts forecast that Exelon will post 2.44 earnings per share for the current fiscal year.

Exelon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 11th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.52 annualized dividend and a dividend yield of 3.98%. Exelon’s dividend payout ratio (DPR) is currently 62.55%.

Analyst Ratings Changes

Several brokerages have recently weighed in on EXC. Morgan Stanley lifted their target price on shares of Exelon from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Barclays lifted their target price on shares of Exelon from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Scotiabank lifted their price target on shares of Exelon from $37.00 to $40.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Jefferies Financial Group started coverage on shares of Exelon in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on shares of Exelon from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Exelon currently has an average rating of “Hold” and an average price target of $41.33.

Exelon Company Profile

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.