Scotiabank Has Positive Estimate for Exelon FY2024 Earnings

Exelon Co. (NASDAQ:EXC) – Research analysts at Scotiabank raised their FY2024 earnings per share (EPS) estimates for shares of Exelon in a report released on Wednesday, January 8th. Scotiabank analyst A. Weisel now forecasts that the company will post earnings per share of $2.47 for the year, up from their prior estimate of $2.44. Scotiabank currently has a “Sector Perform” rating and a $42.00 target price 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 announced its earnings results on Wednesday, October 30th. The company reported $0.71 earnings per share 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 period in the previous year, the business earned $0.67 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis.

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

Exelon Stock Down 2.3 %

Shares of EXC stock opened at $37.30 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.97. The stock’s fifty day moving average price is $37.98 and its 200 day moving average price is $38.08. The company has a market cap of $37.48 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 2.63 and a beta of 0.55. Exelon has a 1-year low of $33.35 and a 1-year high of $41.19.

Exelon Dividend Announcement

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

Institutional Investors Weigh In On Exelon

Several large investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. increased its holdings in shares of Exelon by 3.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 29,362 shares of the company’s stock valued at $1,105,000 after purchasing an additional 970 shares during the last quarter. ST Germain D J Co. Inc. increased its holdings in shares of Exelon by 48.1% in the fourth quarter. ST Germain D J Co. Inc. now owns 2,440 shares of the company’s stock valued at $92,000 after purchasing an additional 793 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Exelon by 0.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 115,509 shares of the company’s stock valued at $4,684,000 after purchasing an additional 437 shares during the last quarter. Pensionfund Sabic increased its holdings in shares of Exelon by 27.7% in the fourth quarter. Pensionfund Sabic now owns 41,500 shares of the company’s stock valued at $1,562,000 after purchasing an additional 9,000 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Exelon by 418.1% in the fourth quarter. Nordea Investment Management AB now owns 2,501,392 shares of the company’s stock valued at $94,152,000 after purchasing an additional 2,018,604 shares during the last quarter. 80.92% of the stock is currently owned by hedge funds and other institutional investors.

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.