TXNM Energy (NYSE:TXNM) Releases FY 2024 Earnings Guidance

by · The Cerbat Gem

TXNM Energy (NYSE:TXNM – Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 2.700-2.750 for the period, compared to the consensus EPS estimate of 2.710. The company issued revenue guidance of -. TXNM Energy also updated its FY24 guidance to $2.70-2.75 EPS.

TXNM Energy Price Performance

NYSE TXNM traded up $0.37 on Monday, hitting $42.65. 816,634 shares of the company’s stock were exchanged, compared to its average volume of 932,700. The company has a current ratio of 0.47, a quick ratio of 0.37 and a debt-to-equity ratio of 1.88. The firm has a 50-day moving average price of $42.78. TXNM Energy has a fifty-two week low of $34.63 and a fifty-two week high of $45.88. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 46.46, a price-to-earnings-growth ratio of 6.33 and a beta of 0.36.

TXNM Energy (NYSE:TXNM – Get Free Report) last released its earnings results on Friday, November 1st. The company reported $1.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.43. TXNM Energy had a return on equity of 10.15% and a net margin of 4.50%. The company had revenue of $569.30 million for the quarter, compared to analysts’ expectations of $588.88 million. During the same quarter in the previous year, the firm posted $1.54 EPS. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. On average, research analysts predict that TXNM Energy will post 2.71 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, October 28th will be given a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a yield of 3.63%. The ex-dividend date is Monday, October 28th. TXNM Energy’s payout ratio is 170.33%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TXNM shares. Barclays boosted their target price on TXNM Energy from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on TXNM Energy in a report on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price target on the stock. Scotiabank assumed coverage on TXNM Energy in a report on Thursday, October 10th. They issued a “sector perform” rating and a $46.00 price target on the stock. Finally, Wells Fargo & Company upped their price target on TXNM Energy from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th.

View Our Latest Report on TXNM

TXNM Energy Company Profile

(Get Free Report)

TXNM Energy, Inc, through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity.

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