Equities Analysts Issue Forecasts for Exelon FY2024 Earnings

Exelon Co. (NASDAQ:EXC - Free Report) - Seaport Res Ptn increased their FY2024 earnings per share (EPS) estimates for Exelon in a research report issued to clients and investors on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now expects that the company will earn $2.47 per share for the year, up from their previous forecast of $2.43. The consensus estimate for Exelon's current full-year earnings is $2.44 per share.

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

Exelon Stock Performance

EXC stock traded down $1.15 during trading on Friday, reaching $38.15. The stock had a trading volume of 7,671,481 shares, compared to its average volume of 6,760,974. Exelon has a 52 week low of $33.35 and a 52 week high of $41.48. The stock's 50 day moving average is $39.65 and its two-hundred day moving average is $37.70. The company has a current ratio of 1.09, a quick ratio of 0.93 and a debt-to-equity ratio of 1.66. The firm has a market cap of $38.17 billion, a PE ratio of 16.06, a PEG ratio of 2.88 and a beta of 0.53.

Exelon (NASDAQ:EXC - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.71 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $5.85 billion. During the same period in the prior year, the firm posted $0.67 earnings per share. The company's quarterly revenue was up 2.9% on a year-over-year basis.

Exelon Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.52 annualized dividend and a yield of 3.98%. Exelon's payout ratio is presently 62.55%.

Institutional Trading of Exelon

Large investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in shares of Exelon in the first quarter worth about $26,000. Versant Capital Management Inc boosted its stake in shares of Exelon by 646.2% in the second quarter. Versant Capital Management Inc now owns 776 shares of the company's stock worth $27,000 after buying an additional 672 shares during the last quarter. J.Safra Asset Management Corp purchased a new stake in shares of Exelon in the second quarter worth about $28,000. American National Bank & Trust boosted its stake in shares of Exelon by 178.8% in the third quarter. American National Bank & Trust now owns 697 shares of the company's stock worth $28,000 after buying an additional 447 shares during the last quarter. Finally, Abound Wealth Management boosted its stake in shares of Exelon by 502.7% in the second quarter. Abound Wealth Management now owns 892 shares of the company's stock worth $31,000 after buying an additional 744 shares during the last quarter. Hedge funds and other institutional investors own 80.92% of the company's stock.

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.