Scotiabank Predicts Exelon’s FY2024 Earnings (NASDAQ:EXC)

Exelon Co. (NASDAQ:EXC) – Research analysts at Scotiabank boosted their FY2024 earnings per share estimates for shares of Exelon in a report released on Wednesday, January 8th. Scotiabank analyst A. Weisel now anticipates that the company will post earnings of $2.47 per share for the year, up from their previous forecast of $2.44. Scotiabank currently has a “Sector Perform” rating and a $42.00 target price on the stock. The consensus estimate for Exelon’s current full-year earnings is $2.45 per share. Scotiabank also issued estimates for Exelon’s FY2026 earnings at $2.75 EPS.

Several other analysts have also recently weighed in on EXC. UBS Group increased their price target 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. Barclays upped their price target on Exelon from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Jefferies Financial Group started coverage on Exelon in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective for the company. Finally, Morgan Stanley reduced their price objective on shares of Exelon from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Exelon currently has a consensus rating of “Hold” and an average target price of $42.38.

Exelon Price Performance

Exelon stock opened at $37.30 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.66. The company has a 50-day moving average price of $37.98 and a 200 day moving average price of $38.06. Exelon has a 12-month low of $33.35 and a 12-month high of $41.19. The stock has a market cap of $37.48 billion, a P/E ratio of 15.35, a PEG ratio of 2.63 and a beta of 0.55.

Exelon (NASDAQ:EXC) last issued its earnings results on Wednesday, October 30th. The company reported $0.71 earnings per share (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 company had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same period in the prior year, the business earned $0.67 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis.

Exelon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 11th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.52 dividend on an annualized basis and a yield of 4.08%. Exelon’s dividend payout ratio (DPR) is presently 62.55%.

Institutional Investors Weigh In On Exelon

A number of hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. increased its position in shares of Exelon by 3.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 29,362 shares of the company’s stock worth $1,105,000 after acquiring an additional 970 shares during the period. ST Germain D J Co. Inc. grew its stake in Exelon by 48.1% during the 4th quarter. ST Germain D J Co. Inc. now owns 2,440 shares of the company’s stock worth $92,000 after purchasing an additional 793 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Exelon by 0.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 115,509 shares of the company’s stock worth $4,684,000 after purchasing an additional 437 shares during the period. Pensionfund Sabic raised its position in Exelon by 27.7% in the 4th quarter. Pensionfund Sabic now owns 41,500 shares of the company’s stock valued at $1,562,000 after purchasing an additional 9,000 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Exelon by 418.1% in the 4th quarter. Nordea Investment Management AB now owns 2,501,392 shares of the company’s stock valued at $94,152,000 after buying an additional 2,018,604 shares during the period. 80.92% of the stock is currently owned by institutional investors and hedge funds.

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.