Exelon (NASDAQ:EXC) Issues FY24 Earnings Guidance

Exelon (NASDAQ:EXC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.40-2.50 for the period, compared to the consensus earnings per share estimate of $2.44.

Exelon Price Performance

Shares of Exelon stock traded down $0.48 during trading hours on Friday, reaching $37.41. 6,774,456 shares of the company’s stock were exchanged, compared to its average volume of 4,992,899. The business has a fifty day moving average of $36.94 and a two-hundred day moving average of $37.03. The company has a quick ratio of 0.73, a current ratio of 1.03 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $37.39 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 2.72 and a beta of 0.53. Exelon has a 1 year low of $33.35 and a 1 year high of $43.53.

Exelon (NASDAQ:EXC) last released its earnings results on Wednesday, February 21st. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $3.87 billion. Exelon had a net margin of 10.44% and a return on equity of 9.27%. The business’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the company posted $0.43 EPS. As a group, research analysts predict that Exelon will post 2.43 earnings per share for the current fiscal year.

Exelon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.52 annualized dividend and a dividend yield of 4.06%. Exelon’s dividend payout ratio is presently 65.52%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on EXC shares. Bank of America decreased their target price on shares of Exelon from $38.00 to $36.00 and set a neutral rating on the stock in a report on Friday, January 19th. StockNews.com raised Exelon from a sell rating to a hold rating in a research note on Monday, March 25th. Seaport Res Ptn downgraded Exelon from a buy rating to a neutral rating in a research report on Monday, January 8th. Mizuho raised shares of Exelon from a neutral rating to a buy rating and upped their target price for the company from $36.00 to $39.00 in a research report on Wednesday, January 10th. Finally, BMO Capital Markets increased their target price on shares of Exelon from $40.00 to $42.00 and gave the stock an outperform rating in a research note on Friday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Exelon presently has an average rating of Hold and an average target price of $38.83.

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.