Scotiabank Has Bullish Forecast for Exelon FY2024 Earnings

Exelon Co. (NASDAQ:EXC) – Equities research analysts at Scotiabank upped their FY2024 earnings per share (EPS) estimates for Exelon in a note issued to investors on Wednesday, January 8th. Scotiabank analyst A. Weisel now anticipates that the company will earn $2.47 per share for the year, up from their previous estimate of $2.44. Scotiabank currently 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.

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

Exelon Stock Performance

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

Exelon (NASDAQ:EXC) last issued its quarterly earnings results 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 business had revenue of $6.15 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of EXC. American National Bank & Trust boosted its stake in shares of 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 acquiring an additional 447 shares during the period. Ashton Thomas Securities LLC bought a new position in Exelon during the third quarter worth $32,000. Abound Wealth Management increased its holdings in shares of Exelon by 502.7% in the second quarter. Abound Wealth Management now owns 892 shares of the company’s stock valued at $31,000 after purchasing an additional 744 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Exelon by 56.7% in the fourth quarter. Versant Capital Management Inc now owns 1,047 shares of the company’s stock valued at $39,000 after purchasing an additional 379 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Exelon during the 2nd quarter worth about $41,000. 80.92% of the stock is currently owned by institutional investors.

Exelon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 11th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.98%. Exelon’s dividend payout ratio (DPR) is presently 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.