Barclays Remains a Hold on Pnm Resources (PNM)

By Jason Carr

In a report released yesterday, Eric Beaumont from Barclays maintained a Hold rating on Pnm Resources (PNMResearch Report), with a price target of $47.00. The company’s shares closed last Tuesday at $39.70.

According to TipRanks.com, Beaumont is a 3-star analyst with an average return of 2.9% and a 57.8% success rate. Beaumont covers the Utilities sector, focusing on stocks such as Brookfield Infrastructure, Public Service Enterprise, and American Electric Power.

The word on The Street in general, suggests a Hold analyst consensus rating for Pnm Resources with a $47.17 average price target, representing a 18.8% upside. In a report issued on April 7, RBC Capital also maintained a Hold rating on the stock with a $46.00 price target.

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Based on Pnm Resources’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $334 million and GAAP net loss of $15.13 million. In comparison, last year the company earned revenue of $350 million and had a net profit of $18.83 million.

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Public Service Co. of New Mexico provides electricity and electric services. It offers payment options, billing, save money and energy and business energy analyzer. The company was founded in 1917 and is headquartered in Albuquerque, NM.