Seaport Res Ptn Has Positive View of Exelon FY2024 Earnings

Exelon Co. (NASDAQ:EXC) – Investment analysts at Seaport Res Ptn raised their FY2024 earnings per share (EPS) estimates for shares of Exelon in a research note issued on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now forecasts that the company will earn $2.47 per share for the year, up from their prior forecast of $2.43. The consensus estimate for Exelon’s current full-year earnings is $2.44 per share.

Other analysts also recently issued reports about the company. Wells Fargo & Company raised their target price on Exelon from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Scotiabank boosted their price objective on Exelon from $37.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group initiated coverage on shares of Exelon in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price for the company. UBS Group boosted their price target on shares of Exelon from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Finally, Morgan Stanley raised their price objective on shares of Exelon from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Exelon presently has an average rating of “Hold” and a consensus price target of $41.33.

Exelon Trading Down 2.9 %

Shares of EXC stock opened at $38.15 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. The firm has a market cap of $38.17 billion, a P/E ratio of 15.70, a PEG ratio of 2.88 and a beta of 0.53. The company has a 50 day moving average of $39.66 and a 200-day moving average of $37.71. Exelon has a 12-month low of $33.35 and a 12-month high of $41.48.

Exelon (NASDAQ:EXC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04. The company had revenue of $6.15 billion during the quarter, compared to analyst estimates of $5.85 billion. Exelon had a net margin of 10.60% and a return on equity of 9.47%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 earnings per share.

Exelon Announces Dividend

The firm 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 $0.38 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.52 dividend on an annualized basis and a yield of 3.98%. Exelon’s dividend payout ratio is currently 62.55%.

Institutional Investors Weigh In On Exelon

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Exelon by 16.3% during the first quarter. Vanguard Group Inc. now owns 105,310,761 shares of the company’s stock worth $3,956,525,000 after acquiring an additional 14,749,899 shares in the last quarter. Clearbridge Investments LLC raised its position in Exelon by 10.5% in the 1st quarter. Clearbridge Investments LLC now owns 1,645,737 shares of the company’s stock worth $61,830,000 after purchasing an additional 156,201 shares during the period. Czech National Bank lifted its stake in Exelon by 8.8% in the second quarter. Czech National Bank now owns 190,537 shares of the company’s stock worth $6,594,000 after purchasing an additional 15,389 shares during the last quarter. Sciencast Management LP purchased a new stake in Exelon during the first quarter valued at about $1,461,000. Finally, Acadian Asset Management LLC bought a new position in shares of Exelon during the first quarter valued at about $681,000. 80.92% of the stock is owned by hedge funds and other institutional investors.

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.