Equities Analysts Issue Forecasts for Exelon FY2024 Earnings

Exelon Co. (NASDAQ:EXC) – Investment analysts at Seaport Res Ptn increased their FY2024 earnings estimates for Exelon in a research note issued to investors on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now expects that the company will post earnings of $2.47 per share for the year, up from their prior forecast of $2.43. The consensus estimate for Exelon’s current full-year earnings is $2.44 per share.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group started coverage on shares of Exelon in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price on the stock. Wells Fargo & Company boosted their price objective on shares of Exelon from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Barclays raised their target price on Exelon from $41.00 to $44.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. 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. Finally, UBS Group upped their price objective on Exelon from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Exelon currently has an average rating of “Hold” and an average price target of $41.33.

Exelon Trading Down 2.9 %

Shares of EXC stock opened at $38.15 on Friday. The stock has a market cap of $38.17 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 2.88 and a beta of 0.53. Exelon has a 1 year low of $33.35 and a 1 year high of $41.48. The company has a current ratio of 1.09, a quick ratio of 0.93 and a debt-to-equity ratio of 1.66. The stock has a 50 day simple moving average of $39.66 and a 200 day simple moving average of $37.71.

Exelon (NASDAQ:EXC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.04. The firm had revenue of $6.15 billion for the quarter, compared to analysts’ expectations of $5.85 billion. Exelon had a return on equity of 9.47% and a net margin of 10.60%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.67 EPS.

Exelon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 11th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Friday, November 8th. Exelon’s dividend payout ratio is presently 62.55%.

Hedge Funds Weigh In On Exelon

Hedge funds have recently bought and sold shares of the company. Crewe Advisors LLC bought a new stake in Exelon in the first quarter worth approximately $26,000. American National Bank & Trust lifted its position in shares of Exelon by 178.8% during the 3rd quarter. American National Bank & Trust now owns 697 shares of the company’s stock valued at $28,000 after acquiring an additional 447 shares during the period. Versant Capital Management Inc lifted its position in shares of Exelon by 646.2% during the 2nd quarter. Versant Capital Management Inc now owns 776 shares of the company’s stock valued at $27,000 after acquiring an additional 672 shares during the period. J.Safra Asset Management Corp bought a new position in Exelon during the second quarter worth $28,000. Finally, Abound Wealth Management grew its holdings in Exelon by 502.7% in the second quarter. Abound Wealth Management now owns 892 shares of the company’s stock worth $31,000 after purchasing an additional 744 shares during the period. Institutional investors own 80.92% of the company’s stock.

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.