During the last session, PNM Resources Inc. (NYSE:PNM)’s traded shares were 0.39 million, with the beta value of the company hitting 0.52. At the end of the trading day, the stock’s price was $49.64, reflecting an intraday gain of 0.10% or $0.05. The 52-week high for the PNM share is $50.25, that puts it down -1.23 from that peak though still a striking 21.43% gain since the share price plummeted to a 52-week low of $39.00. The company’s market capitalization is $4.26B, and the average intraday trading volume over the past 10 days was 1.0 million shares, and the average trade volume was 615.46K shares over the past three months.
PNM Resources Inc. (PNM) received a consensus recommendation of an Underweight from analysts. That translates to a mean rating of 3.00. PNM has a Sell rating from 2 analyst(s) out of 7 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 0 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.22.
PNM Resources Inc. (NYSE:PNM) trade information
PNM Resources Inc. (PNM) registered a 0.10% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 0.10% in intraday trading to $49.64 this Friday, 09/03/21, hitting a weekly high. The stock’s 5-day price performance is -0.04%, and it has moved by 3.55% in 30 days. Based on these gigs, the overall price performance for the year is 14.43%. The short interest in PNM Resources Inc. (NYSE:PNM) is 2.44 million shares and it means that shorts have 5.01 day(s) to cover.
The consensus price target of analysts on Wall Street is $50.40, which implies an increase of 1.51% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $50.00 and $51.50 respectively. As a result, PNM is trading at a discount of -3.75% off the target high and -0.73% off the low.
PNM Resources Inc. (PNM) estimates and forecasts
Statistics show that PNM Resources Inc. has underperformed its competitors in share price, compared to the industry in which it operates. PNM Resources Inc. (PNM) shares have gone up 3.44% during the last six months, with a year-to-date growth rate less than the industry average at 0.00% against 5.20. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to shrink -60.00% this quarter and then drop -21.40% in the quarter after that. In the rating firms’ projections, revenue will increase 8.30% compared to the previous financial year.
Revenue for the current quarter is expected to be $345.07 million as predicted by 2 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $581.11 million by the end of Sep 2021.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 61.60%. While earnings are projected to return 122.50% in 2021, the next five years will return 4.90% per annum.
PNM Resources Inc. is due to release its next quarterly earnings between October 28 and November 01. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for PNM Resources Inc. is 1.31, with the dividend yield indicating at 2.64 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 2.53%.
PNM Resources Inc. (NYSE:PNM)’s Major holders
PNM Resources Inc. insiders own 1.23% of total outstanding shares while institutional holders control 85.11%, with the float percentage being 86.17%. Blackrock Inc. is the largest shareholder of the company, while 345 institutions own stock in it. As of Jun 29, 2021, the company held over 10.25 million shares (or 11.94% of all shares), a total value of $499.95 million in shares.
The next largest institutional holding, with 8.69 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 10.13% of outstanding shares. At the market price on Jun 29, 2021, these shares were valued at $424.03 million.
Also, the Mutual Funds coming in first place with the largest holdings of PNM Resources Inc. (PNM) shares are Vanguard Total Stock Market Index Fund and iShares Core S&P Midcap ETF. Data provided on Mar 30, 2021 indicates that Vanguard Total Stock Market Index Fund owns about 2.4 million shares. This amounts to just over 2.80 percent of the company’s overall shares, with a $117.95 million market value. The same data shows that the other fund manager holds slightly less at 2.31 million, or about 2.69% of the stock, which is worth about $112.49 million.