PG&E (NYSE:PCG – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.330-1.370 for the period, compared to the consensus EPS estimate of 1.350. The company issued revenue guidance of -. PG&E also updated its FY24 guidance to $1.33-1.37 EPS.
Analysts Set New Price Targets
Several research firms have recently commented on PCG. StockNews.com raised shares of PG&E from a sell rating to a hold rating in a research report on Thursday, February 1st. Barclays raised their target price on PG&E from $20.00 to $21.00 and gave the company an overweight rating in a research note on Friday. The Goldman Sachs Group started coverage on PG&E in a research note on Wednesday, April 10th. They issued a buy rating and a $21.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price objective on PG&E from $18.00 to $19.00 and gave the company a neutral rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, PG&E has a consensus rating of Moderate Buy and an average price target of $19.11.
Check Out Our Latest Stock Analysis on PG&E
PG&E Stock Down 0.2 %
PG&E (NYSE:PCG – Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. PG&E had a net margin of 9.24% and a return on equity of 10.84%. The firm had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $6.60 billion. During the same quarter in the prior year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, analysts expect that PG&E will post 1.35 EPS for the current fiscal year.
PG&E Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 27th. PG&E’s payout ratio is currently 3.81%.
PG&E Company Profile
PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.
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