Exelon (NASDAQ:EXC) Updates FY24 Earnings Guidance

Exelon (NASDAQ:EXC) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.40-2.50 for the period, compared to the consensus earnings per share estimate of $2.45. Exelon also updated its FY 2024 guidance to 2.400-2.500 EPS.

Analyst Ratings Changes

A number of research firms have commented on EXC. Jefferies Financial Group began coverage on shares of Exelon in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Exelon from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Morgan Stanley boosted their price target on shares of Exelon from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Barclays boosted their target price on shares of Exelon from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, Scotiabank boosted their target price on shares of Exelon from $37.00 to $40.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $41.33.

Exelon Trading Down 2.9 %

Shares of EXC stock traded down $1.15 during trading hours on Friday, reaching $38.15. 7,671,481 shares of the stock traded hands, compared to its average volume of 6,760,974. Exelon has a 1-year low of $33.35 and a 1-year high of $41.48. The business has a fifty day moving average price of $39.66 and a 200 day moving average price of $37.71. 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 firm has a market capitalization of $38.17 billion, a PE ratio of 15.70, a PEG ratio of 2.88 and a beta of 0.53.

Exelon (NASDAQ:EXC) last posted its earnings results on Wednesday, October 30th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.67 by $0.04. Exelon had a net margin of 10.60% and a return on equity of 9.47%. The company had revenue of $6.15 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the previous year, the firm posted $0.67 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities research analysts forecast that Exelon will post 2.44 EPS for the current year.

Exelon Announces Dividend

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

About Exelon

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.