Earnings estimates for PNM Resources, Inc. PNM for 2019 and 2020 rose 8% and 3.24% on a year-over-year basis to $2.16 and $2.23 per share, respectively. Revenue estimates for 2019 and 2020 increased 5.07% and 2.98% on a year-over-year basis to $1.51 billion and $1.55 billion, respectively.
Let’s focus on the factors that make PNM Resources an appropriate investment option at the moment.
Earnings Surprise History & Dividend Yield
The company’s average four-quarter positive earnings surprise is 15.75%.
Currently, the company has a dividend yield of 2.35% compared with the Zacks S&P 500 composite’s 1.99%.
Zacks Rank & Price Movement
PNM Resources currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 12 months, PNM Resources’ shares have rallied 39.7% compared with the industry’s rise of 21.2%.
The company’s long-term (three to five years) earnings growth is pegged at 5.23%.
PNM Resources plans to invest $2.6 billion over 2019 to 2022 period. These investments will enable the company to achieve its targeted 5-6% earnings growth in the said period.
Other Key Picks
Some other top-ranked stocks from the same industry are IDACORP, Inc IDA, FirstEnergy Corporation FE and Black Hills Corporation BKH, each holding a Zacks Rank of 2.
IDACORP pulled off an average positive earnings surprise of 13.83% in the last four quarters. The company’s long-term earnings growth is pegged at 3.80%
FirstEnergy pulled off an average positive earnings surprise of 5.09% in the last four quarters. The company’s long-term earnings growth is pegged at 6%.
Black Hills delivered an average positive earnings surprise of 5.69% in the last four quarters. The company’s long-term earnings growth is pegged at 4.80%
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