PPL (NYSE:PPL) Issues FY 2024 Earnings Guidance

PPL (NYSE:PPL) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 1.670-1.730 for the period, compared to the consensus estimate of 1.710. The company issued revenue guidance of -. PPL also updated its FY24 guidance to $1.67-1.73 EPS.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PPL shares. Bank of America upped 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. Jefferies Financial Group began coverage on shares of PPL in a report on Thursday, September 19th. They issued a “buy” rating and a $38.00 price objective on the stock. Barclays lifted their target price 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. Wells Fargo & Company upped their price target on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Morgan Stanley lifted their price objective on PPL from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.40.

PPL Stock Performance

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

PPL (NYSE:PPL) last issued 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. PPL had a net margin of 10.17% and a return on equity of 9.26%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the firm posted $0.29 EPS. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PPL will post 1.72 EPS for the current year.

PPL Announces Dividend

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

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.