PPL (NYSE:PPL) Issues FY24 Earnings Guidance

PPL (NYSE:PPL) updated its FY24 earnings guidance on Friday. The company provided EPS guidance of $1.67-1.73 for the period, compared to the consensus EPS estimate of $1.71. PPL also updated its FY 2024 guidance to 1.670-1.730 EPS.

PPL Stock Performance

NYSE PPL opened at $32.56 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.91 and a current ratio of 1.11. The business’s 50 day moving average price is $32.33 and its 200-day moving average price is $29.97. The company has a market cap of $24.02 billion, a P/E ratio of 28.56, a P/E/G ratio of 2.75 and a beta of 0.82. PPL has a fifty-two week low of $24.24 and a fifty-two week high of $33.38.

PPL (NYSE:PPL) last released its earnings results on Friday, August 2nd. The utilities provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. PPL had a return on equity of 9.26% and a net margin of 10.17%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the prior year, the firm posted $0.29 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Sell-side analysts predict that PPL will post 1.72 earnings per share for the current year.

PPL Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were issued a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Tuesday, September 10th. PPL’s payout ratio is 90.35%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. started coverage on PPL in a research note on Friday, October 25th. They issued an “overweight” rating and a $37.00 price objective for the company. Barclays raised their price objective on PPL from $30.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Jefferies Financial Group began coverage on shares of PPL in a research report on Thursday, September 19th. They set a “buy” rating and a $38.00 price target for the company. Bank of America raised their price objective on PPL from $33.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Morgan Stanley boosted their target price on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.40.

About PPL

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.