Exelon (NASDAQ:EXC) Posts Earnings Results, Beats Estimates By $0.04 EPS

Exelon (NASDAQ:EXC) released its quarterly earnings data on Wednesday. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04, Briefing.com reports. The company had revenue of $6.15 billion for the quarter, compared to analysts’ expectations of $5.85 billion. Exelon had a net margin of 10.65% and a return on equity of 9.40%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.67 EPS. Exelon updated its FY 2024 guidance to 2.400-2.500 EPS and its FY24 guidance to $2.40-2.50 EPS.

Exelon Price Performance

NASDAQ:EXC traded down $0.12 during trading hours on Thursday, hitting $39.58. The stock had a trading volume of 2,955,821 shares, compared to its average volume of 6,735,791. The company has a 50 day simple moving average of $39.62 and a two-hundred day simple moving average of $37.69. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 0.93. Exelon has a one year low of $33.35 and a one year high of $41.48. The firm has a market capitalization of $39.60 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 2.90 and a beta of 0.53.

Exelon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 11th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.84%. The ex-dividend date is Monday, November 11th. Exelon’s payout ratio is 62.55%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on EXC shares. Wells Fargo & Company increased their price objective on shares of Exelon from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Exelon in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price on the stock. UBS Group upped their target price on shares of Exelon from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Barclays upped their target price on shares of Exelon from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, 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 report on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $41.33.

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.