KeyCorp Has Pessimistic Outlook of Exelon FY2024 Earnings

Exelon Co. (NASDAQ:EXC) – Equities research analysts at KeyCorp reduced their FY2024 earnings per share estimates for shares of Exelon in a report issued on Tuesday, December 3rd. KeyCorp analyst S. Karp now expects that the company will post earnings of $2.41 per share for the year, down from their prior estimate of $2.42. The consensus estimate for Exelon’s current full-year earnings is $2.45 per share. KeyCorp also issued estimates for Exelon’s Q4 2024 earnings at $0.55 EPS and FY2026 earnings at $2.73 EPS.

A number of other equities analysts have also recently issued reports on EXC. Morgan Stanley dropped their price objective on Exelon from $46.00 to $44.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Jefferies Financial Group started coverage on shares of Exelon in a research note on Thursday, September 19th. They set a “buy” rating and a $46.00 target price for the company. Barclays raised their price target on shares of Exelon from $41.00 to $44.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. UBS Group boosted their price objective 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, Scotiabank raised their target price on shares of Exelon from $37.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Exelon currently has an average rating of “Hold” and an average price target of $41.25.

Exelon Stock Down 0.3 %

Shares of NASDAQ EXC opened at $37.85 on Friday. The company has a market cap of $38.03 billion, a P/E ratio of 15.56, a PEG ratio of 2.72 and a beta of 0.54. The firm has a 50-day simple moving average of $39.43 and a two-hundred day simple moving average of $37.87. Exelon has a 1 year low of $33.35 and a 1 year high of $41.42. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.97.

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

Institutional Trading of Exelon

Hedge funds have recently modified their holdings of the company. J.Safra Asset Management Corp acquired a new stake in shares of Exelon in the 2nd quarter worth $28,000. American National Bank & Trust grew its stake in shares of Exelon by 178.8% during the third quarter. American National Bank & Trust now owns 697 shares of the company’s stock worth $28,000 after acquiring an additional 447 shares during the last quarter. Abound Wealth Management increased its holdings in shares of Exelon by 502.7% during the second quarter. Abound Wealth Management now owns 892 shares of the company’s stock valued at $31,000 after acquiring an additional 744 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Exelon in the 3rd quarter valued at approximately $32,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Exelon in the 2nd quarter worth approximately $41,000. 80.92% of the stock is owned by hedge funds and other institutional investors.

Exelon Dividend Announcement

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 issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.52 dividend on an annualized basis and a yield of 4.02%. Exelon’s dividend payout ratio is presently 62.55%.

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.