PPL (NYSE:PPL) Releases FY 2024 Earnings Guidance

PPL (NYSE:PPL) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 1.670-1.730 for the period, compared to the consensus earnings per share estimate of 1.710. The company issued revenue guidance of -. PPL also updated its FY24 guidance to $1.67-1.73 EPS.

PPL Stock Up 2.0 %

Shares of NYSE PPL traded up $0.62 during midday trading on Monday, hitting $32.18. 9,336,552 shares of the company’s stock were exchanged, compared to its average volume of 4,826,629. The company has a market cap of $23.74 billion, a PE ratio of 27.68, a P/E/G ratio of 2.78 and a beta of 0.81. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.11 and a quick ratio of 0.91. PPL has a twelve month low of $24.93 and a twelve month high of $33.38. The firm’s fifty day simple moving average is $32.33 and its 200-day simple moving average is $30.06.

PPL (NYSE:PPL) last posted its earnings results on Friday, November 1st. The utilities provider reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. PPL had a net margin of 10.17% and a return on equity of 9.26%. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period last year, the firm posted $0.43 EPS. The company’s revenue was up 1.1% on a year-over-year basis. Research analysts predict that PPL will post 1.72 EPS for the current fiscal year.

PPL Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were paid a dividend of $0.2575 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.03 dividend on an annualized basis and a yield of 3.20%. PPL’s dividend payout ratio is presently 90.35%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PPL. JPMorgan Chase & Co. started coverage on shares of PPL in a research report on Friday, October 25th. They set an “overweight” rating and a $37.00 target price on the stock. Wells Fargo & Company increased their price objective on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Morgan Stanley increased their price target on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Jefferies Financial Group assumed coverage on shares of PPL in a research note on Thursday, September 19th. They issued a “buy” rating and a $38.00 target price for the company. Finally, Barclays boosted their price target on shares of PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $35.50.

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.