PNM Resources Inc (PNM) Is Now En Route to Higher Prices

PNM Resources Inc (NYSE: PNM) is -13.81% lower on its value in year-to-date trading and has touched a low of $41.44 and a high of $49.60 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The PNM stock was last observed hovering at around $42.67 in the last trading session, with the day’s loss setting it -0.62% off its average median price target of $50.15 for the next 12 months. It is also 23.55% off the consensus price target high of $55.00 offered by analysts, but current levels are -2.56% lower than the price target low of $41.00 for the same period.

Currently trading at $42.05, the stock is -0.63% and -1.77% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.77 million and changing -1.45% at the moment leaves the stock -7.08% off its SMA200. PNM registered -13.87% loss for a year compared to 6-month loss of -6.39%. The firm has a 50-day simple moving average (SMA 50) of $4.09 and a 200-day simple moving average (SMA200) of $12.00.

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The stock witnessed a -0.14% gain in the last 1 month and extending the period to 3 months gives it a -6.08%, and is -2.14% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.42% over the week and 1.46% over the month.

PNM Resources Inc (PNM) has around 1537 employees, a market worth around $3.61B and $2.10B in sales. Current P/E ratio is 23.54 and Fwd P/E is 15.07. Profit margin for the company is 7.31%. Distance from 52-week low is 1.47% and -15.21% from its 52-week high. The company has generated returns on investments over the last 12 months (2.43%).

PNM Resources Inc is expected to release its quarterly report on 02/23/2024.The EPS is expected to grow by 3.17% this year.

PNM Resources Inc (PNM) Top Institutional Holders

The shares outstanding are 85.83M, and float is at 84.76M with Short Float at 2.28%.

PNM Resources Inc (PNM) Insider Activity

A total of 0 insider transactions have happened at PNM Resources Inc (PNM) in the last six months, with sales accounting for 0 and purchases happening 0 times.

PNM Resources Inc (PNM): Who are the competitors?

The company’s main competitors (and peers) include NextEra Energy Inc. (NEE) that is trading -29.01% down over the past 12 months. Xcel Energy Inc. (XEL) that is -12.51% lower over the same period.