PPL (NYSE:PPL) Issues FY24 Earnings Guidance

PPL (NYSE:PPL) updated its FY24 earnings guidance on Friday. The company provided 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 $31.56 on Monday. The firm’s 50 day moving average price is $32.33 and its 200-day moving average price is $30.06. PPL has a twelve month low of $24.78 and a twelve month high of $33.38. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $23.28 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 2.78 and a beta of 0.81.

PPL (NYSE:PPL) last issued its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.10 billion. PPL had a net margin of 10.17% and a return on equity of 9.26%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 EPS. Equities research analysts expect that PPL will post 1.72 EPS for the current year.

PPL Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were issued a $0.2575 dividend. This represents a $1.03 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Tuesday, September 10th. PPL’s dividend payout ratio is 90.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Bank of America increased their target price on shares of PPL from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Barclays increased their price objective on shares of PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Jefferies Financial Group initiated coverage on shares of PPL in a report on Thursday, September 19th. They set a “buy” rating and a $38.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on shares of PPL in a report on Friday, October 25th. They set an “overweight” rating and a $37.00 price objective for the company. Finally, 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 report on Monday, September 16th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus 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.