PPL (NYSE:PPL) Updates FY 2024 Earnings Guidance

PPL (NYSE:PPL) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 1.630-1.750 for the period, compared to the consensus EPS estimate of 1.710. The company issued revenue guidance of -. PPL also updated its FY24 guidance to $1.63-1.75 EPS.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of PPL from $30.00 to $32.00 and gave the company an overweight rating in a research note on Thursday, May 2nd. Bank of America lifted their price objective on shares of PPL from $29.00 to $30.00 and gave the company a buy rating in a research note on Thursday, April 11th. Morgan Stanley decreased their price objective on shares of PPL from $32.00 to $31.00 and set an overweight rating for the company in a research note on Monday, June 24th. Royal Bank of Canada lifted their target price on shares of PPL from $30.00 to $31.00 and gave the company an outperform rating in a report on Thursday, April 11th. Finally, Mizuho lifted their target price on shares of PPL from $27.00 to $28.00 and gave the company a neutral rating in a report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $32.36.

PPL Price Performance

NYSE PPL traded up $0.33 on Friday, hitting $30.64. The company had a trading volume of 11,185,676 shares, compared to its average volume of 4,702,332. The company has a market capitalization of $22.60 billion, a PE ratio of 29.75, a PEG ratio of 2.59 and a beta of 0.81. The company’s fifty day moving average price is $28.45 and its 200-day moving average price is $27.56. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.28 and a quick ratio of 1.08. PPL has a 12-month low of $22.20 and a 12-month high of $31.45.

PPL (NYSE:PPL) last announced its earnings results on Friday, August 2nd. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.05. PPL had a net margin of 9.29% and a return on equity of 8.80%. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the company posted $0.29 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, analysts predict that PPL will post 1.72 earnings per share for the current year.

PPL Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 10th were paid a dividend of $0.2575 per share. The ex-dividend date was Monday, June 10th. This represents a $1.03 dividend on an annualized basis and a yield of 3.36%. PPL’s dividend payout ratio (DPR) is presently 100.00%.

About PPL

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.