PPL (NYSE:PPL) Issues FY 2024 Earnings Guidance

PPL (NYSE:PPL) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 1.630-1.750 for the period, compared to the consensus EPS estimate of 1.710. The company issued revenue guidance of -. PPL also updated its FY24 guidance to $1.63-1.75 EPS.

Analyst Ratings Changes

A number of brokerages recently commented on PPL. Mizuho lifted their price objective on PPL from $27.00 to $28.00 and gave the stock a neutral rating in a research note on Thursday, May 2nd. Bank of America lifted their price objective on PPL from $29.00 to $30.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Wells Fargo & Company lifted their target price on PPL from $30.00 to $32.00 and gave the stock an overweight rating in a report on Thursday, May 2nd. StockNews.com upgraded PPL from a sell rating to a hold rating in a report on Friday, May 10th. Finally, Morgan Stanley reduced their target price on PPL from $32.00 to $31.00 and set an overweight rating on the stock in a report on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, PPL presently has an average rating of Moderate Buy and an average target price of $32.36.

PPL Stock Up 1.1 %

Shares of PPL stock traded up $0.33 during trading on Friday, reaching $30.64. The stock had a trading volume of 11,056,019 shares, compared to its average volume of 4,873,844. The company has a market capitalization of $22.60 billion, a price-to-earnings ratio of 29.75, a P/E/G ratio of 2.54 and a beta of 0.81. The stock has a fifty day moving average price of $28.41 and a two-hundred day moving average price of $27.53. PPL has a 52 week low of $22.20 and a 52 week high of $31.45. The company has a current ratio of 1.28, a quick ratio of 1.08 and a debt-to-equity ratio of 1.12.

PPL (NYSE:PPL) last issued its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.38 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 return on equity of 8.80% and a net margin of 9.29%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 earnings per share. Sell-side analysts predict that PPL will post 1.72 EPS for the current fiscal year.

PPL Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 10th were given a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date was Monday, June 10th. PPL’s dividend payout ratio is currently 100.00%.

About PPL

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.