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PPL Corporation (NYSE: PPL) Stock Forecast: Bullish Signals Pointing To $34.00 In 2023

In the last trading session, 4.54 million shares of the PPL Corporation (NYSE:PPL) were traded, and its beta was 0.81. Most recently the company’s share price was $26.78, and it changed around -$0.25 or -0.92% from the last close, which brings the market valuation of the company to $19.86B. PPL currently trades at a discount to its 52-week high of $31.74, offering almost -18.52% off that amount. The share price’s 52-week low was $23.47, which indicates that the current value has risen by an impressive 12.36% since then. We note from PPL Corporation’s average daily trading volume that its 10-day average is 5.01 million shares, with the 3-month average coming to 5.32 million.

PPL Corporation stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.10. If we narrow it down even further, the data shows that 0 out of 14 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 5 recommended PPL as a Hold, whereas 9 deemed it a Buy, and 0 rated it as Underweight. PPL Corporation is expected to report earnings per share of $0.34 for the current quarter.

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PPL Corporation (NYSE:PPL) trade information

Instantly PPL has showed a red trend with a performance of -0.92% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 27.71 on Tuesday, 05/23/23 increased the stock’s daily price by 3.36%. The company’s shares are currently down -8.35% year-to-date, but still down -2.87% over the last five days. On the other hand, PPL Corporation (NYSE:PPL) is -6.59% down in the 30-day period. We can see from the shorts that 13.17 million shares have been sold at a short interest cover period of 2.9 day(s).

The consensus price target as assigned by Wall Street analysts is $31.64, which translates to bulls needing to increase their stock price by 15.36% from its current value. Analyst projections state that PPL is forecast to be at a low of $28.00 and a high of $34.00. In order for the stock price to hit the forecast high, the stock would need to plunge -26.96% from its current level, while the stock would need to crash -4.56% from its current level to reach the projected low.

PPL Corporation (PPL) estimates and forecasts

PPL Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -4.66 percent over the past six months and at a 12.06% annual growth rate that is well above the industry average of 1.90%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 13.30% in revenue this quarter, and will report an increase of 12.20% in the next quarter. The year-over-year growth rate is expected to be -0.20%, down from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $1.34 billion in revenue for the current quarter. 2 analysts expect PPL Corporation to make $1.66 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $1.7 billion and $1.93 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -21.10%. Forecasts for the next quarter put sales growth at -13.80%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -14.40%. PPL Corporation earnings are expected to increase by 12.80% in 2023, but the outlook is positive 17.21% per year for the next five years.

PPL Dividends

PPL Corporation’s next quarterly earnings report is expected to be released around August 01 and August 07. The annual dividend yield of the stock is 3.58 percent and its annual dividend per share was 0.96. It is important to note, however, that the 3.58% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

PPL Corporation (NYSE:PPL)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.05% of PPL Corporation shares, and 73.43% of them are in the hands of institutional investors. The stock currently has a share float of 73.47%. PPL Corporation stock is held by 1,068 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 12.97% of the shares, which is about 95.61 million shares worth $2.66 billion.

Blackrock Inc., with 8.16% or 60.17 million shares worth $1.67 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 21.23 million shares worth $620.46 million, making up 2.88% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 17.02 million shares worth around $497.37 million, which represents about 2.31% of the total shares outstanding.

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