PPL (NYSE:PPL) Releases FY 2024 Earnings Guidance

PPL (NYSE:PPL) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 1.670-1.730 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 $1.67-1.73 EPS.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. started coverage on PPL in a research note on Friday, October 25th. They set an “overweight” rating and a $37.00 price objective on the stock. Bank of America increased their target price on PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Monday. Morgan Stanley boosted their price target on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Jefferies Financial Group assumed coverage on shares of PPL in a research report on Thursday, September 19th. They issued a “buy” rating and a $38.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.50.

PPL Stock Performance

Shares of PPL traded up $0.62 during mid-day trading on Monday, reaching $32.18. 9,336,552 shares of the company’s stock traded hands, compared to its average volume of 4,826,629. PPL has a 12 month low of $24.93 and a 12 month high of $33.38. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.91 and a current ratio of 1.11. The stock has a market capitalization of $23.74 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 2.78 and a beta of 0.81. The business’s 50-day moving average price is $32.33 and its 200-day moving average price is $30.06.

PPL (NYSE:PPL) last released its earnings results on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. PPL had a return on equity of 9.26% and a net margin of 10.17%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the company earned $0.43 earnings per share. PPL’s revenue was up 1.1% compared to the same quarter last year. Equities analysts predict that PPL will post 1.72 earnings per share for the current year.

PPL Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were issued a $0.2575 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.03 annualized dividend and a dividend yield of 3.20%. PPL’s dividend payout ratio is currently 90.35%.

PPL Company Profile

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.