KeyCorp Issues Pessimistic Forecast for Exelon Earnings

Exelon Co. (NASDAQ:EXC) – Equities researchers at KeyCorp dropped their FY2024 EPS estimates for Exelon in a research note issued on Tuesday, December 3rd. KeyCorp analyst S. Karp now forecasts that the company will earn $2.41 per share for the year, down from their previous estimate of $2.42. The consensus estimate for Exelon’s current full-year earnings is $2.45 per share. KeyCorp also issued estimates for Exelon’s Q4 2024 earnings at $0.55 EPS and FY2026 earnings at $2.73 EPS.

Other analysts have also issued reports about the stock. UBS Group lifted their price target on shares of Exelon from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Morgan Stanley decreased 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 note on Friday, November 22nd. 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 price objective on Exelon from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Scotiabank raised 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. Eleven 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, Exelon currently has a consensus rating of “Hold” and a consensus target price of $41.25.

Exelon Price Performance

NASDAQ EXC opened at $37.85 on Friday. Exelon has a one year low of $33.35 and a one year high of $41.42. The stock has a 50-day moving average of $39.43 and a 200 day moving average of $37.87. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.97 and a current ratio of 1.09. The company has a market capitalization of $38.03 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 2.72 and a beta of 0.54.

Exelon (NASDAQ:EXC) last issued 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. Exelon had a return on equity of 9.47% and a net margin of 10.60%. The business had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same period last year, the business posted $0.67 EPS. The company’s revenue was up 2.9% compared to the same quarter last year.

Hedge Funds Weigh In On Exelon

A number of hedge funds have recently made changes to their positions in the business. State Street Corp boosted its holdings in shares of Exelon by 3.7% during the 3rd quarter. State Street Corp now owns 60,169,219 shares of the company’s stock valued at $2,439,862,000 after purchasing an additional 2,156,259 shares during the last quarter. Geode Capital Management LLC boosted its stake in Exelon by 1.6% during the third quarter. Geode Capital Management LLC now owns 25,945,791 shares of the company’s stock valued at $1,048,823,000 after buying an additional 403,542 shares during the last quarter. FMR LLC grew its holdings in Exelon by 18.7% during the 3rd quarter. FMR LLC now owns 11,782,549 shares of the company’s stock valued at $477,782,000 after buying an additional 1,858,502 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Exelon by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,967,343 shares of the company’s stock worth $363,626,000 after acquiring an additional 160,313 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Exelon by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,446,408 shares of the company’s stock worth $261,402,000 after acquiring an additional 123,466 shares in the last quarter. Institutional investors own 80.92% of the company’s stock.

Exelon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 11th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, November 8th. This represents a $1.52 annualized dividend and a dividend yield of 4.02%. Exelon’s payout ratio is 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.