Scotiabank Predicts Exelon’s FY2024 Earnings (NASDAQ:EXC)

Exelon Co. (NASDAQ:EXC) – Investment analysts at Scotiabank boosted their FY2024 earnings per share estimates for Exelon in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst A. Weisel now forecasts that the company will post earnings per share of $2.47 for the year, up from their prior forecast of $2.44. Scotiabank has a “Sector Perform” rating and a $42.00 price objective on the stock. The consensus estimate for Exelon’s current full-year earnings is $2.45 per share. Scotiabank also issued estimates for Exelon’s FY2026 earnings at $2.75 EPS.

Exelon (NASDAQ:EXC) last issued its earnings results on Wednesday, October 30th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.04. The business had revenue of $6.15 billion for the quarter, compared to analyst estimates of $5.85 billion. Exelon had a return on equity of 9.47% and a net margin of 10.60%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company earned $0.67 EPS.

A number of other research firms also recently commented on EXC. Jefferies Financial Group began coverage on shares of Exelon in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price on the stock. 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 report on Friday, November 22nd. UBS Group boosted their target price on Exelon from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, Barclays raised their price target on Exelon from $41.00 to $44.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $42.38.

Exelon Stock Down 2.3 %

EXC stock opened at $37.30 on Friday. The stock has a market cap of $37.48 billion, a P/E ratio of 15.35, a PEG ratio of 2.63 and a beta of 0.55. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.66. Exelon has a twelve month low of $33.35 and a twelve month high of $41.19. The company’s 50 day moving average is $37.98 and its two-hundred day moving average is $38.06.

Exelon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 11th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Friday, November 8th. Exelon’s dividend payout ratio is presently 62.55%.

Institutional Investors Weigh In On Exelon

Several hedge funds have recently modified their holdings of the stock. Foundations Investment Advisors LLC lifted its stake in shares of Exelon by 3.5% in the 3rd quarter. Foundations Investment Advisors LLC now owns 7,533 shares of the company’s stock worth $305,000 after acquiring an additional 255 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Exelon by 1.0% during the third quarter. Harbor Capital Advisors Inc. now owns 28,392 shares of the company’s stock worth $1,151,000 after purchasing an additional 274 shares in the last quarter. Black Diamond Financial LLC lifted its position in Exelon by 2.0% in the second quarter. Black Diamond Financial LLC now owns 14,067 shares of the company’s stock valued at $487,000 after purchasing an additional 279 shares during the period. Ballentine Partners LLC boosted its holdings in Exelon by 2.1% in the 3rd quarter. Ballentine Partners LLC now owns 13,922 shares of the company’s stock valued at $565,000 after purchasing an additional 285 shares in the last quarter. Finally, Ledyard National Bank increased its position in Exelon by 5.1% during the 3rd quarter. Ledyard National Bank now owns 6,348 shares of the company’s stock worth $257,000 after purchasing an additional 308 shares during the period. 80.92% of the stock is owned by institutional investors and hedge funds.

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.