PPL (NYSE:PPL) Releases FY24 Earnings Guidance

PPL (NYSE:PPL) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share guidance of $1.67-1.73 for the period, compared to the consensus earnings per share estimate of $1.71. PPL also updated its FY 2024 guidance to 1.670-1.730 EPS.

PPL Stock Performance

Shares of PPL stock opened at $31.56 on Monday. The company has a market capitalization of $23.28 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 2.78 and a beta of 0.81. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.91 and a current ratio of 1.11. PPL has a one year low of $24.78 and a one year high of $33.38. The company’s 50-day moving average is $32.33 and its 200 day moving average is $30.06.

PPL (NYSE:PPL) last announced its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.10 billion. PPL had a net margin of 10.17% and a return on equity of 9.26%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 earnings per share. Sell-side analysts expect that PPL will post 1.72 EPS for the current fiscal year.

PPL Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were given a dividend of $0.2575 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.03 annualized dividend and a dividend yield of 3.26%. PPL’s dividend payout ratio (DPR) is presently 90.35%.

Wall Street Analysts Forecast Growth

PPL has been the subject of a number of recent analyst reports. Bank of America upped their target price on shares of PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company boosted their price objective on shares of PPL from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Barclays raised their target price on shares of PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Jefferies Financial Group initiated coverage on shares of PPL in a research note on Thursday, September 19th. They set a “buy” rating and a $38.00 target price for the company. Finally, Morgan Stanley raised their price target on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PPL has an average rating of “Moderate Buy” and a consensus target price of $35.50.

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.