PG&E (NYSE:PCG) Issues FY 2024 Earnings Guidance

PG&E (NYSE:PCG) 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.

PG&E Stock Down 0.2 %

PG&E stock traded down $0.04 during mid-day trading on Friday, hitting $17.03. The company’s stock had a trading volume of 13,459,165 shares, compared to its average volume of 15,607,474. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.83 and a quick ratio of 0.78. PG&E has a 52-week low of $14.71 and a 52-week high of $18.32. The firm’s 50 day moving average is $16.57 and its 200 day moving average is $16.88. The company has a market cap of $36.39 billion, a PE ratio of 16.29 and a beta of 1.32.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $6.60 billion. PG&E had a return on equity of 10.84% and a net margin of 9.24%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 earnings per share. On average, analysts anticipate that PG&E will post 1.35 earnings per share for the current year.

PG&E Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a yield of 0.23%. PG&E’s payout ratio is currently 3.81%.

Analyst Ratings Changes

Several brokerages recently weighed in on PCG. Barclays increased 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 initiated coverage on shares of PG&E in a research report on Wednesday, April 10th. They set a buy rating and a $21.00 target price on the stock. StockNews.com raised shares of PG&E from a sell rating to a hold rating in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of PG&E from $18.00 to $19.00 and gave the stock a neutral rating in a report on Tuesday. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $19.11.

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.