FY2024 EPS Estimates for Exelon Reduced by Seaport Res Ptn

Exelon Co. (NASDAQ:EXC) – Equities researchers at Seaport Res Ptn reduced their FY2024 earnings per share estimates for shares of Exelon in a note issued to investors on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now expects that the company will post earnings of $2.46 per share for the year, down from their previous forecast of $2.47. The consensus estimate for Exelon’s current full-year earnings is $2.45 per share.

Exelon (NASDAQ:EXC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.71 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $5.85 billion. During the same period last year, the firm posted $0.67 EPS. Exelon’s revenue was up 2.9% on a year-over-year basis.

Several other brokerages have also recently commented on EXC. Barclays lifted their price objective on shares of Exelon from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Jefferies Financial Group started coverage on Exelon in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price on the stock. Morgan Stanley reduced their target price on Exelon from $46.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. UBS Group lifted their price objective on Exelon from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Finally, Scotiabank increased their price objective on Exelon from $40.00 to $42.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Exelon presently has an average rating of “Hold” and an average target price of $42.00.

Exelon Price Performance

NASDAQ EXC opened at $38.19 on Wednesday. The stock’s fifty day moving average price is $38.00 and its 200 day moving average price is $38.04. Exelon has a 1 year low of $33.35 and a 1 year high of $41.19. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.97. The company has a market cap of $38.37 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 2.63 and a beta of 0.55.

Institutional Investors Weigh In On Exelon

Several institutional investors have recently added to or reduced their stakes in EXC. American National Bank & Trust grew its position in Exelon by 178.8% during the 3rd quarter. American National Bank & Trust now owns 697 shares of the company’s stock worth $28,000 after purchasing an additional 447 shares during the last quarter. Abound Wealth Management grew its holdings in Exelon by 502.7% during the second quarter. Abound Wealth Management now owns 892 shares of the company’s stock worth $31,000 after acquiring an additional 744 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Exelon in the third quarter valued at $32,000. Versant Capital Management Inc grew its position in Exelon by 56.7% during the fourth quarter. Versant Capital Management Inc now owns 1,047 shares of the company’s stock worth $39,000 after buying an additional 379 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Exelon during the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Exelon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 11th were paid a $0.38 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.52 dividend on an annualized basis and a yield of 3.98%. Exelon’s dividend payout ratio is currently 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.