Zacks Research Has Strong Outlook for Exelon FY2024 Earnings

Exelon Co. (NASDAQ:EXC) – Investment analysts at Zacks Research increased their FY2024 EPS estimates for shares of Exelon in a report issued on Wednesday, November 20th. Zacks Research analyst R. Department now anticipates that the company will earn $2.48 per share for the year, up from their previous forecast of $2.43. The consensus estimate for Exelon’s current full-year earnings is $2.46 per share. Zacks Research also issued estimates for Exelon’s FY2025 earnings at $2.58 EPS and Q2 2026 earnings at $0.54 EPS.

Several other equities analysts have also recently commented on EXC. Barclays increased their target price on Exelon from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Wells Fargo & Company upped their price objective on Exelon from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Jefferies Financial Group assumed coverage on shares of Exelon in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective on the stock. Scotiabank upped their target price on shares of Exelon from $37.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley cut their target price on Exelon from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Friday. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $41.25.

Exelon Trading Up 1.1 %

NASDAQ:EXC opened at $39.13 on Monday. The business’s 50-day moving average is $39.61 and its two-hundred day moving average is $37.84. The firm has a market capitalization of $39.32 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 2.76 and a beta of 0.54. Exelon has a 12 month low of $33.35 and a 12 month high of $41.42. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.97.

Exelon (NASDAQ:EXC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. Exelon had a net margin of 10.60% and a return on equity of 9.47%. The firm had revenue of $6.15 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same period in the previous year, the company posted $0.67 earnings per share. Exelon’s revenue was up 2.9% compared to the same quarter last year.

Institutional Investors Weigh In On Exelon

Hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc raised its position in Exelon by 646.2% in the 2nd quarter. Versant Capital Management Inc now owns 776 shares of the company’s stock valued at $27,000 after purchasing an additional 672 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in Exelon during the 2nd quarter worth $28,000. American National Bank & Trust boosted its position in Exelon by 178.8% in the 3rd quarter. American National Bank & Trust now owns 697 shares of the company’s stock valued at $28,000 after buying an additional 447 shares during the last quarter. Abound Wealth Management increased its stake in shares of Exelon by 502.7% in the 2nd quarter. Abound Wealth Management now owns 892 shares of the company’s stock valued at $31,000 after buying an additional 744 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in Exelon in the third quarter valued at about $32,000. Institutional investors and hedge funds own 80.92% of the company’s stock.

Exelon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 11th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Friday, November 8th. Exelon’s dividend payout ratio is 62.55%.

About Exelon

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.