Exelon (NASDAQ:EXC) Updates FY 2024 Earnings Guidance

Exelon (NASDAQ:EXC) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 2.400-2.500 for the period, compared to the consensus EPS estimate of 2.450. The company issued revenue guidance of -. Exelon also updated its FY24 guidance to $2.40-2.50 EPS.

Exelon Stock Down 2.9 %

Shares of NASDAQ:EXC traded down $1.15 during trading hours on Friday, reaching $38.15. The stock had a trading volume of 7,671,481 shares, compared to its average volume of 6,760,974. The stock has a market capitalization of $38.17 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 2.88 and a beta of 0.53. The firm’s 50 day moving average is $39.65 and its 200-day moving average is $37.70. Exelon has a 1 year low of $33.35 and a 1 year high of $41.48. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.93 and a current ratio of 1.09.

Exelon (NASDAQ:EXC) last posted its 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. The firm 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%. Exelon’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.67 earnings per share. Research analysts predict that Exelon will post 2.44 earnings per share for the current fiscal year.

Exelon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 11th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Friday, November 8th. Exelon’s payout ratio is 62.55%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EXC. Jefferies Financial Group began coverage on shares of Exelon in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective for the company. UBS Group upped their price objective on shares of Exelon from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Scotiabank lifted their target price on Exelon from $37.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Barclays upped their target price on Exelon from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company lifted their price target on Exelon from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Exelon currently has a consensus rating of “Hold” and an average price target of $41.33.

Exelon Company Profile

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.