PPL (NYSE:PPL) Updates FY24 Earnings Guidance

PPL (NYSE:PPL) issued an update on its FY24 earnings guidance on Friday morning. 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 Price Performance

Shares of PPL stock opened at $31.56 on Monday. 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 one year low of $24.78 and a one year high of $33.38. The business’s 50 day simple moving average is $32.33 and its two-hundred day simple moving average is $30.06. The stock has a market capitalization of $23.28 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 2.78 and a beta of 0.81.

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

PPL Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were paid a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Tuesday, September 10th. PPL’s dividend payout ratio (DPR) is 90.35%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PPL shares. Jefferies Financial Group assumed coverage on PPL in a report on Thursday, September 19th. They set a “buy” rating and a $38.00 price target on the stock. JPMorgan Chase & Co. began coverage on PPL in a research note on Friday, October 25th. They set an “overweight” rating and a $37.00 target price on the stock. Barclays raised their price target on PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Wells Fargo & Company boosted their price objective on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Bank of America raised their target price on shares of PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

PPL Company Profile

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.