Scotiabank Has Positive Estimate for Exelon FY2024 Earnings

Exelon Co. (NASDAQ:EXC) – Scotiabank increased their FY2024 earnings per share (EPS) estimates for Exelon in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst A. Weisel now expects that the company will earn $2.47 per share for the year, up from their prior estimate of $2.44. Scotiabank has a “Sector Perform” rating and a $42.00 price objective on the stock. The consensus estimate for Exelon’s current full-year earnings is $2.45 per share. Scotiabank also issued estimates for Exelon’s FY2026 earnings at $2.75 EPS.

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

Other research analysts also recently issued research reports about the company. UBS Group raised their price objective on Exelon from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Jefferies Financial Group initiated coverage on Exelon in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price for the company. Morgan Stanley cut their target price on Exelon from $46.00 to $44.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Finally, Barclays increased their target price on Exelon from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Exelon has an average rating of “Hold” and an average target price of $42.38.

Exelon Stock Down 2.3 %

NASDAQ EXC opened at $37.30 on Friday. The stock’s 50-day moving average price is $37.98 and its 200-day moving average price is $38.08. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. Exelon has a 52 week low of $33.35 and a 52 week high of $41.19. The company has a market capitalization of $37.48 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 2.63 and a beta of 0.55.

Hedge Funds Weigh In On Exelon

Several institutional investors have recently added to or reduced their stakes in the company. American National Bank & Trust lifted its stake in shares of Exelon by 178.8% in the 3rd quarter. American National Bank & Trust now owns 697 shares of the company’s stock valued at $28,000 after purchasing an additional 447 shares during the last quarter. Abound Wealth Management lifted its stake in shares of Exelon by 502.7% during the 2nd quarter. Abound Wealth Management now owns 892 shares of the company’s stock worth $31,000 after acquiring an additional 744 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Exelon during the 3rd quarter worth approximately $32,000. Versant Capital Management Inc lifted its stake in shares of Exelon by 56.7% during the 4th quarter. Versant Capital Management Inc now owns 1,047 shares of the company’s stock worth $39,000 after acquiring an additional 379 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Exelon during the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Exelon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 11th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Friday, November 8th. Exelon’s dividend payout ratio is presently 62.55%.

Exelon Company Profile

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.