Exelon (NASDAQ:EXC) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Exelon (NASDAQ:EXC) posted its quarterly earnings results on Wednesday. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04, Briefing.com reports. The firm had revenue of $6.15 billion for the quarter, compared to analyst estimates of $5.85 billion. Exelon had a return on equity of 9.47% and a net margin of 10.60%. Exelon’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 earnings per share. Exelon updated its FY 2024 guidance to 2.400-2.500 EPS and its FY24 guidance to $2.40-2.50 EPS.

Exelon Trading Down 1.2 %

NASDAQ:EXC traded down $0.47 during trading hours on Friday, hitting $38.83. 1,154,940 shares of the stock were exchanged, compared to its average volume of 6,739,112. The company’s 50 day moving average is $39.65 and its two-hundred day moving average is $37.70. Exelon has a twelve month low of $33.35 and a twelve month high of $41.48. The company has a quick ratio of 0.93, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $38.85 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 2.88 and a beta of 0.53.

Exelon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 11th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.91%. The ex-dividend date is Friday, November 8th. Exelon’s dividend payout ratio is 62.55%.

Analyst Upgrades and Downgrades

EXC has been the subject of several recent analyst reports. Wells Fargo & Company upped their price target on Exelon from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Jefferies Financial Group initiated coverage on Exelon in a research note on Thursday, September 19th. They set a “buy” rating and a $46.00 price target for the company. Morgan Stanley upped their price target on Exelon from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Barclays upped their price target on Exelon from $41.00 to $44.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Finally, UBS Group increased their target price on Exelon from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $41.33.

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.