Exelon (NASDAQ:EXC) Issues FY24 Earnings Guidance

Exelon (NASDAQ:EXC) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.40-2.50 for the period, compared to the consensus earnings per share estimate of $2.45. Exelon also updated its FY 2024 guidance to 2.400-2.500 EPS.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Exelon from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Jefferies Financial Group started coverage on Exelon in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target on the stock. Barclays upped their target price on Exelon from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Scotiabank upped 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. Finally, UBS Group increased their price target on Exelon from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $41.33.

Exelon Stock Performance

Shares of NASDAQ:EXC traded down $1.15 during midday trading on Friday, reaching $38.15. 7,671,481 shares of the company’s stock traded hands, compared to its average volume of 6,760,974. The company has a market cap of $38.17 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 2.88 and a beta of 0.53. 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 has a one year low of $33.35 and a one year high of $41.48. The stock has a 50 day moving average of $39.66 and a 200 day moving average of $37.71.

Exelon (NASDAQ:EXC) last posted its earnings results on Wednesday, October 30th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. The company had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $5.85 billion. Exelon had a return on equity of 9.47% and a net margin of 10.60%. Exelon’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 earnings per share. As a group, equities research analysts anticipate that Exelon will post 2.44 EPS for the current fiscal year.

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 dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.98%. The ex-dividend date is Friday, November 8th. Exelon’s dividend payout ratio is presently 62.55%.

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.