Exelon (NASDAQ:EXC) Posts Earnings Results

Exelon (NASDAQ:EXC) released its earnings results on Wednesday. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.67 by $0.04, Briefing.com reports. The company had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Exelon had a return on equity of 9.40% and a net margin of 10.65%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 EPS. Exelon updated its FY 2024 guidance to 2.400-2.500 EPS and its FY24 guidance to $2.40-2.50 EPS.

Exelon Stock Performance

NASDAQ EXC traded down $0.26 on Thursday, hitting $39.44. The stock had a trading volume of 2,293,157 shares, compared to its average volume of 6,732,650. The company’s 50-day moving average is $39.62 and its two-hundred day moving average is $37.69. Exelon has a one year low of $33.35 and a one year high of $41.48. The stock has a market cap of $39.46 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 2.90 and a beta of 0.53. The company has a quick ratio of 0.93, a current ratio of 1.03 and a debt-to-equity ratio of 1.66.

Exelon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 11th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Monday, November 11th. Exelon’s payout ratio is 62.55%.

Analysts Set New Price Targets

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