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PNM Resources (PNM) Up 6.6% Since Last Earnings Report: Can It Continue?
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It has been about a month since the last earnings report for PNM Resources (PNM - Free Report) . Shares have added about 6.6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is PNM Resources due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
PNM Resources reported fourth-quarter 2021 earnings per share (EPS) of 21 cents, which beat the Zacks Consensus Estimate of 15 cents by 40%.
GAAP earnings for the quarter were 13 cents per share, up 18.2% from the prior-year quarter’s reading of 11 cents.
Total Revenues
Total electric operating revenues for 2021 were $1,779.9 million, up 16.9% from $1,523 million in the comparable period of 2020.
Highlights of the Release
Total operating expenses for 2021 totaled $1471.7 million, up 19% from $1,237.7million in 2020, due to an increase in energy production, transmission and distribution costs.
Operating income for 2021 was $308.2 million, up 8.03% from $285.3 million in 2020.
PNM Resources’ merger with Avangrid is expected to be extended to Apr 20, 2023. PNM has got the key regulatory approval for the retirement of the Four Corners Power Plant and the implementation of the Transportation Electrification Program.
Guidance
PNM Resources initiated the 2022 EPS guidance range of $2.50-$2.60 and 2023 EPS guidance in the band of $2.60-$2.75. The midpoint of the above-guided range for 2022 is $2.55, higher than the current Zacks Consensus Estimate of $2.53 per share.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.
VGM Scores
At this time, PNM Resources has a poor Growth Score of F, however its Momentum Score is doing a lot better with a C. Following the exact same course, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
PNM Resources has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
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PNM Resources (PNM) Up 6.6% Since Last Earnings Report: Can It Continue?
It has been about a month since the last earnings report for PNM Resources (PNM - Free Report) . Shares have added about 6.6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is PNM Resources due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
PNM Resources Q4 Earnings Beat Estimates, Revenues Rise
PNM Resources reported fourth-quarter 2021 earnings per share (EPS) of 21 cents, which beat the Zacks Consensus Estimate of 15 cents by 40%.
GAAP earnings for the quarter were 13 cents per share, up 18.2% from the prior-year quarter’s reading of 11 cents.
Total Revenues
Total electric operating revenues for 2021 were $1,779.9 million, up 16.9% from $1,523 million in the comparable period of 2020.
Highlights of the Release
Total operating expenses for 2021 totaled $1471.7 million, up 19% from $1,237.7million in 2020, due to an increase in energy production, transmission and distribution costs.
Operating income for 2021 was $308.2 million, up 8.03% from $285.3 million in 2020.
PNM Resources’ merger with Avangrid is expected to be extended to Apr 20, 2023. PNM has got the key regulatory approval for the retirement of the Four Corners Power Plant and the implementation of the Transportation Electrification Program.
Guidance
PNM Resources initiated the 2022 EPS guidance range of $2.50-$2.60 and 2023 EPS guidance in the band of $2.60-$2.75. The midpoint of the above-guided range for 2022 is $2.55, higher than the current Zacks Consensus Estimate of $2.53 per share.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.
VGM Scores
At this time, PNM Resources has a poor Growth Score of F, however its Momentum Score is doing a lot better with a C. Following the exact same course, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
PNM Resources has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.