PNM Resources (PNM) Stock Forecast, Price Target & Predictions
PNM Stock Forecast
PNM Resources stock forecast is as follows: an average price target of $44.50 (represents a 9.34% upside from PNM’s last price of $40.70) and a rating consensus of 'Buy', based on 5 wall street analysts offering a 1-year stock forecast.
PNM Price Target
The average price target for PNM Resources (PNM) is $44.50 based on 1-year price targets from 5 Wall Street analysts in the past 3 months, with a price target range of $51.00 to $38.00. This represents a potential 9.34% upside from PNM's last price of $40.70.
PNM Analyst Ratings
According to 5 Wall Street analysts, PNM Resources's rating consensus is 'Buy'. The analyst rating breakdown for PNM stock is 0 'Strong Buy' (0.00%), 4 'Buy' (80.00%), 1 'Hold' (20.00%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).
PNM Resources Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Aug 01, 2024 | Jonathan Reeder | Wells Fargo | $46.00 | $41.58 | 10.63% | 13.02% |
| May 30, 2024 | Michael Lonegon | Evercore ISI | $38.00 | $36.60 | 3.83% | -6.63% |
| Apr 15, 2024 | Nicholas Campanella | Barclays | $43.00 | $36.23 | 18.69% | 5.65% |
| Sep 07, 2022 | - | Mizuho Securities | $51.00 | $47.44 | 7.50% | 25.31% |
| Apr 29, 2022 | - | Wells Fargo | $53.00 | $47.75 | 10.99% | 30.22% |
| Apr 27, 2022 | - | Wells Fargo | $54.00 | $47.85 | 12.85% | 32.68% |
The latest PNM Resources stock forecast, released on Aug 01, 2024 by Jonathan Reeder from Wells Fargo, set a price target of $46.00, which represents a 10.63% increase from the stock price at the time of the forecast ($41.58), and a 13.02% increase from PNM last price ($40.70).
PNM Resources Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | - | - | 3 |
| Avg Price Target | - | - | $42.33 |
| Last Closing Price | $40.70 | $40.70 | $40.70 |
| Upside/Downside | -100.00% | -100.00% | 4.00% |
In the current month, the average price target of PNM Resources stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to PNM Resources's last price of $40.70. This month's average price target is down NaN% compared to last quarter, and down -100.00% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Aug 01, 2024 | Wells Fargo | Overweight | Overweight | Hold |
| Jul 22, 2024 | Barclays | Overweight | Overweight | Hold |
| Apr 16, 2024 | Bank of America Securities | Buy | Buy | Hold |
| Apr 15, 2024 | Barclays | Overweight | Overweight | Hold |
| Sep 05, 2023 | Citigroup | Neutral | Neutral | Hold |
| Apr 03, 2023 | Wells Fargo | Overweight | Equal-Weight | Downgrade |
| Jun 22, 2022 | Mizuho Securities | - | Buy | Upgrade |
| Apr 27, 2022 | Wells Fargo | Overweight | Overweight | Hold |
PNM Resources's last stock rating was published by Wells Fargo on Aug 01, 2024. The company gave PNM a "Overweight" rating, the same as its previous rate.
PNM Resources Financial Forecast
PNM Resources Revenue Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | Jun 19 | Mar 19 | Mar 18 | Mar 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | $412.11M | $505.85M | $477.16M | $544.08M | $575.82M | $729.89M | $499.73M | $444.12M | $434.07M | $554.55M | $426.54M | $364.71M | $359.28M | $472.46M | $357.65M | $333.62M | $344.14M | $433.59M | $330.23M | $349.64M | $317.88M | $330.18M |
| Avg Forecast | $551.53M | $540.42M | $504.81M | $457.98M | $488.53M | $555.13M | $481.02M | $531.00M | $541.51M | $651.91M | $446.75M | $460.14M | $244.99M | $542.39M | $445.36M | $382.37M | $294.83M | $754.53M | $329.82M | $269.08M | $357.86M | $529.43M | $345.13M | $193.55M | $471.49M | $521.00M | $347.75M | $290.75M | $317.90M | $282.94M |
| High Forecast | $551.53M | $540.42M | $504.81M | $457.98M | $488.53M | $555.13M | $481.02M | $531.00M | $541.51M | $651.91M | $446.75M | $460.14M | $244.99M | $542.39M | $445.36M | $382.37M | $294.83M | $754.53M | $329.82M | $269.08M | $357.86M | $529.43M | $345.13M | $193.55M | $471.49M | $521.00M | $347.75M | $290.75M | $381.48M | $339.53M |
| Low Forecast | $551.53M | $540.42M | $504.81M | $457.98M | $488.53M | $555.13M | $481.02M | $531.00M | $541.51M | $651.91M | $446.75M | $460.14M | $244.99M | $542.39M | $445.36M | $382.37M | $294.83M | $754.53M | $329.82M | $269.08M | $357.86M | $529.43M | $345.13M | $193.55M | $471.49M | $521.00M | $347.75M | $290.75M | $254.32M | $226.35M |
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 6 | 4 | 4 | 7 | 4 | 3 | 7 | 9 | 20 |
| Surprise % | - | - | - | - | - | - | - | - | 0.76% | 0.78% | 1.07% | 1.18% | 2.35% | 1.35% | 1.12% | 1.16% | 1.47% | 0.73% | 1.29% | 1.36% | 1.00% | 0.89% | 1.04% | 1.72% | 0.73% | 0.83% | 0.95% | 1.20% | 1.00% | 1.17% |
PNM Resources's average Quarter revenue forecast for Mar 24 based on 1 analysts is $531.00M, with a low forecast of $531.00M, and a high forecast of $531.00M. PNM's average Quarter revenue forecast represents a 28.85% increase compared to the company's last Quarter revenue of $412.11M (Dec 23).
PNM Resources EBITDA Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | Jun 19 | Mar 19 | Mar 18 | Mar 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 6 | 4 | 4 | 7 | 4 | 3 | 7 | 9 | 20 |
| EBITDA | - | - | - | - | - | - | - | - | $101.24M | $167.68M | $182.69M | $182.61M | $137.20M | $275.75M | $177.90M | $159.12M | $122.28M | $234.12M | $165.61M | $124.02M | $121.56M | $239.23M | $171.25M | $90.96M | $144.19M | $219.54M | $-14.68M | $125.64M | $116.71M | $131.36M |
| Avg Forecast | $194.18M | $190.27M | $177.73M | $161.24M | $172.00M | $195.45M | $169.35M | $129.33M | $190.65M | $229.52M | $157.29M | $102.23M | $92.81M | $190.96M | $156.80M | $92.94M | $103.80M | $265.65M | $116.12M | $54.57M | $125.99M | $186.40M | $121.51M | $85.61M | $166.00M | $183.43M | $122.44M | $102.79M | $116.71M | $109.46M |
| High Forecast | $194.18M | $190.27M | $177.73M | $161.24M | $172.00M | $195.45M | $169.35M | $155.19M | $190.65M | $229.52M | $157.29M | $122.68M | $111.37M | $190.96M | $156.80M | $111.53M | $103.80M | $265.65M | $116.12M | $65.48M | $125.99M | $186.40M | $121.51M | $102.73M | $166.00M | $183.43M | $122.44M | $123.35M | $140.05M | $131.36M |
| Low Forecast | $194.18M | $190.27M | $177.73M | $161.24M | $172.00M | $195.45M | $169.35M | $103.46M | $190.65M | $229.52M | $157.29M | $81.79M | $74.25M | $190.96M | $156.80M | $74.35M | $103.80M | $265.65M | $116.12M | $43.65M | $125.99M | $186.40M | $121.51M | $68.49M | $166.00M | $183.43M | $122.44M | $82.23M | $93.37M | $87.57M |
| Surprise % | - | - | - | - | - | - | - | - | 0.53% | 0.73% | 1.16% | 1.79% | 1.48% | 1.44% | 1.13% | 1.71% | 1.18% | 0.88% | 1.43% | 2.27% | 0.96% | 1.28% | 1.41% | 1.06% | 0.87% | 1.20% | -0.12% | 1.22% | 1.00% | 1.20% |
1 analysts predict PNM's average Quarter EBITDA for Mar 24 to be $129.33M, with a high of $155.19M and a low of $103.46M. This is 27.74% upper than PNM Resources's previous annual EBITDA (Dec 23) of $101.24M.
PNM Resources Net Income Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | Jun 19 | Mar 19 | Mar 18 | Mar 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 6 | 4 | 4 | 7 | 4 | 3 | 7 | 9 | 20 |
| Net Income | - | - | - | - | - | - | - | - | $-50.09M | $37.73M | $45.30M | $55.15M | $15.88M | $122.56M | $15.49M | $16.12M | $15.20M | $113.45M | $53.84M | $17.71M | $8.91M | $121.90M | $57.62M | $-15.13M | $31.94M | $102.90M | $-75.78M | $18.83M | $15.12M | $22.99M |
| Avg Forecast | $22.37M | $134.83M | $58.04M | $51.38M | $25.61M | $130.48M | $50.10M | $16.11M | $12.63M | $124.80M | $50.37M | $12.73M | $8.62M | $120.43M | $48.36M | $11.58M | $14.04M | $108.47M | $40.80M | $7.79M | $13.79M | $114.12M | $45.02M | $-14.24M | $29.67M | $115.69M | $33.40M | $15.41M | $15.12M | $19.16M |
| High Forecast | $22.37M | $134.83M | $58.04M | $51.38M | $25.61M | $130.48M | $50.11M | $19.33M | $13.47M | $128.52M | $50.37M | $15.28M | $10.34M | $123.08M | $48.36M | $13.89M | $14.04M | $110.62M | $40.80M | $9.35M | $13.79M | $114.12M | $45.02M | $-11.39M | $29.67M | $115.69M | $33.40M | $18.49M | $18.15M | $22.99M |
| Low Forecast | $22.37M | $134.83M | $58.04M | $51.38M | $25.61M | $130.48M | $50.09M | $12.89M | $11.79M | $117.35M | $50.37M | $10.19M | $6.89M | $117.79M | $48.36M | $9.26M | $14.04M | $106.32M | $40.80M | $6.23M | $13.79M | $114.12M | $45.02M | $-17.09M | $29.67M | $115.69M | $33.40M | $12.33M | $12.10M | $15.33M |
| Surprise % | - | - | - | - | - | - | - | - | -3.97% | 0.30% | 0.90% | 4.33% | 1.84% | 1.02% | 0.32% | 1.39% | 1.08% | 1.05% | 1.32% | 2.27% | 0.65% | 1.07% | 1.28% | 1.06% | 1.08% | 0.89% | -2.27% | 1.22% | 1.00% | 1.20% |
PNM Resources's average Quarter net income forecast for Dec 23 is $12.63M, with a range of $11.79M to $13.47M. PNM's average Quarter net income forecast represents a -66.52% decrease compared to the company's last Quarter net income of $37.73M (Sep 23).
PNM Resources SG&A Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | Jun 19 | Mar 19 | Mar 18 | Mar 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 6 | 4 | 4 | 7 | 4 | 3 | 7 | 9 | 20 |
| SG&A | - | - | - | - | - | - | - | - | $60.27M | $58.48M | $54.04M | $77.31M | $95.34M | $79.66M | $72.50M | $74.33M | $87.00M | $76.52M | $71.33M | $76.78M | $92.12M | $70.35M | $68.49M | $63.32M | $63.97M | $64.07M | $62.03M | $69.01M | $65.24M | $64.01M |
| Avg Forecast | $88.98M | $87.18M | $81.44M | $73.89M | $78.81M | $89.56M | $77.60M | $74.25M | $87.36M | $105.17M | $72.07M | $58.70M | $66.04M | $87.50M | $71.85M | $53.36M | $47.56M | $121.73M | $53.21M | $33.78M | $57.73M | $85.41M | $55.68M | $59.59M | $76.07M | $84.05M | $56.10M | $56.47M | $65.24M | $53.34M |
| High Forecast | $88.98M | $87.18M | $81.44M | $73.89M | $78.81M | $89.56M | $77.60M | $89.11M | $87.36M | $105.17M | $72.07M | $70.44M | $79.24M | $87.50M | $71.85M | $64.04M | $47.56M | $121.73M | $53.21M | $40.54M | $57.73M | $85.41M | $55.68M | $71.51M | $76.07M | $84.05M | $56.10M | $67.76M | $78.29M | $64.01M |
| Low Forecast | $88.98M | $87.18M | $81.44M | $73.89M | $78.81M | $89.56M | $77.60M | $59.40M | $87.36M | $105.17M | $72.07M | $46.96M | $52.83M | $87.50M | $71.85M | $42.69M | $47.56M | $121.73M | $53.21M | $27.03M | $57.73M | $85.41M | $55.68M | $47.67M | $76.07M | $84.05M | $56.10M | $45.17M | $52.19M | $42.67M |
| Surprise % | - | - | - | - | - | - | - | - | 0.69% | 0.56% | 0.75% | 1.32% | 1.44% | 0.91% | 1.01% | 1.39% | 1.83% | 0.63% | 1.34% | 2.27% | 1.60% | 0.82% | 1.23% | 1.06% | 0.84% | 0.76% | 1.11% | 1.22% | 1.00% | 1.20% |
PNM Resources's average Quarter SG&A projection for Mar 24 is $74.25M, based on 1 Wall Street analysts, with a range of $59.40M to $89.11M. The forecast indicates a 23.20% rise compared to PNM last annual SG&A of $60.27M (Dec 23).
PNM Resources EPS Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | Jun 19 | Mar 19 | Mar 18 | Mar 17 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 6 | 4 | 4 | 7 | 4 | 3 | 7 | 9 | 20 |
| EPS | - | - | - | - | - | - | - | - | $-0.58 | $0.44 | $0.53 | $0.64 | $0.18 | $1.42 | $0.18 | $0.19 | $0.18 | $1.32 | $0.62 | $0.20 | $0.11 | $1.52 | $0.72 | $-0.19 | $0.40 | $1.29 | $-0.95 | $0.23 | $0.19 | $0.29 |
| Avg Forecast | $0.25 | $1.49 | $0.64 | $0.57 | $0.28 | $1.44 | $0.55 | $0.40 | $0.14 | $1.38 | $0.56 | $0.41 | $0.13 | $1.33 | $0.53 | $0.39 | $0.16 | $1.20 | $0.45 | $0.19 | $0.15 | $1.26 | $0.50 | $0.17 | $0.33 | $1.28 | $0.37 | $0.11 | $0.21 | $0.20 |
| High Forecast | $0.25 | $1.49 | $0.64 | $0.57 | $0.28 | $1.44 | $0.55 | $0.40 | $0.15 | $1.42 | $0.56 | $0.41 | $0.13 | $1.36 | $0.53 | $0.39 | $0.16 | $1.22 | $0.45 | $0.19 | $0.15 | $1.26 | $0.50 | $0.17 | $0.33 | $1.28 | $0.37 | $0.11 | $0.25 | $0.24 |
| Low Forecast | $0.25 | $1.49 | $0.64 | $0.57 | $0.28 | $1.44 | $0.55 | $0.40 | $0.13 | $1.30 | $0.56 | $0.41 | $0.13 | $1.30 | $0.53 | $0.39 | $0.16 | $1.17 | $0.45 | $0.19 | $0.15 | $1.26 | $0.50 | $0.17 | $0.33 | $1.28 | $0.37 | $0.11 | $0.17 | $0.16 |
| Surprise % | - | - | - | - | - | - | - | - | -4.16% | 0.32% | 0.95% | 1.57% | 1.35% | 1.07% | 0.34% | 0.49% | 1.16% | 1.10% | 1.38% | 1.05% | 0.73% | 1.21% | 1.45% | -1.12% | 1.21% | 1.01% | -2.58% | 2.06% | 0.90% | 1.45% |
According to 1 Wall Street analysts, PNM Resources's projected average Quarter EPS for Dec 23 is $0.14, with a low estimate of $0.13 and a high estimate of $0.15. This represents a -68.30% decrease compared to PNM previous annual EPS of $0.44 (Sep 23).
PNM Resources Peer Comparison by Price Target
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| DTE | DTE Energy Company | $122.18 | $135.00 | 10.49% | Buy |
| POR | Portland General Electric Company | $46.88 | $50.33 | 7.36% | Buy |
| PNM | PNM Resources | $41.77 | $44.50 | 6.54% | Buy |
| OGE | OGE Energy | $43.11 | $44.50 | 3.22% | Buy |
| LNT | Alliant Energy | $62.23 | $63.38 | 1.85% | Buy |
| EVRG | Evergy | $64.37 | $64.25 | -0.19% | Buy |
| CMS | CMS Energy | $68.52 | $67.50 | -1.49% | Buy |
| CNP | CenterPoint Energy | $31.57 | $31.00 | -1.81% | Hold |
| AEE | Ameren | $92.24 | $90.08 | -2.34% | Buy |
| IDA | IDACORP | $117.96 | $110.50 | -6.32% | Hold |
| PNW | Pinnacle West Capital | $91.79 | $78.44 | -14.54% | Buy |
| ETR | Entergy | $150.71 | $127.67 | -15.29% | Buy |
| MGEE | MGE Energy | $103.89 | $71.00 | -31.66% | Sell |