Exelon (NASDAQ:EXC) Updates FY24 Earnings Guidance

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

Exelon Trading Down 2.9 %

Shares of NASDAQ:EXC traded down $1.15 during mid-day trading on Friday, hitting $38.15. The stock had a trading volume of 7,671,481 shares, compared to its average volume of 6,760,974. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.93 and a current ratio of 1.09. The company has a market cap of $38.17 billion, a PE ratio of 15.70, a P/E/G ratio of 2.88 and a beta of 0.53. Exelon has a 12-month low of $33.35 and a 12-month high of $41.48. The company’s 50 day moving average is $39.66 and its 200-day moving average is $37.71.

Exelon (NASDAQ:EXC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.67 by $0.04. The business had revenue of $6.15 billion during the quarter, compared to the consensus estimate of $5.85 billion. Exelon had a net margin of 10.60% and a return on equity of 9.47%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.67 EPS. On average, sell-side analysts predict that Exelon will post 2.44 EPS for the current year.

Exelon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 11th will be given a $0.38 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.52 annualized dividend and a dividend yield of 3.98%. Exelon’s dividend payout ratio (DPR) is presently 62.55%.

Analyst Upgrades and Downgrades

EXC has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of Exelon in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price for the company. Scotiabank increased their target price on shares of Exelon from $37.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Morgan Stanley increased their target price 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. UBS Group increased their target price on shares of Exelon from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Finally, Barclays increased their target price on shares of Exelon from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.33.

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.