PPL (NYSE:PPL) Issues FY 2024 Earnings Guidance

PPL (NYSE:PPL) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 1.670-1.730 for the period, compared to the consensus EPS estimate of 1.710. The company issued revenue guidance of -. PPL also updated its FY24 guidance to $1.67-1.73 EPS.

PPL Stock Performance

PPL traded up $0.63 on Monday, reaching $32.19. The company had a trading volume of 10,001,742 shares, compared to its average volume of 4,828,795. PPL has a fifty-two week low of $24.93 and a fifty-two week high of $33.38. The stock has a market cap of $23.75 billion, a P/E ratio of 27.68, a P/E/G ratio of 2.78 and a beta of 0.81. The company’s fifty day moving average is $32.33 and its 200 day moving average is $30.06. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.91 and a current ratio of 1.11.

PPL (NYSE:PPL) last released its earnings results on Friday, November 1st. The utilities provider reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. PPL had a return on equity of 9.26% and a net margin of 10.17%. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the prior year, the company posted $0.43 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. As a group, analysts predict that PPL will post 1.72 earnings per share for the current fiscal year.

PPL Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were given a dividend of $0.2575 per share. The ex-dividend date was Tuesday, September 10th. This represents a $1.03 annualized dividend and a dividend yield of 3.20%. PPL’s dividend payout ratio is currently 90.35%.

Wall Street Analysts Forecast Growth

PPL has been the subject of several recent research reports. Wells Fargo & Company increased their price target on PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Bank of America increased their price target on PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Monday. Jefferies Financial Group assumed coverage on PPL in a research note on Thursday, September 19th. They issued a “buy” rating and a $38.00 price target for the company. Barclays raised their target price on PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. began coverage on PPL in a report on Friday, October 25th. They issued an “overweight” rating and a $37.00 price target on the stock. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.50.

About PPL

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.