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 |
|---|---|---|---|---|---|
| OGE | OGE Energy | $39.84 | $44.50 | 11.70% | Buy |
| DTE | DTE Energy Company | $121.63 | $135.00 | 10.99% | Buy |
| LNT | Alliant Energy | $57.51 | $63.38 | 10.21% | Buy |
| POR | Portland General Electric Company | $46.14 | $50.33 | 9.08% | Buy |
| EVRG | Evergy | $59.79 | $64.25 | 7.46% | Buy |
| CNP | CenterPoint Energy | $29.02 | $31.00 | 6.82% | Hold |
| PNM | PNM Resources | $41.77 | $44.50 | 6.54% | Buy |
| AEE | Ameren | $86.02 | $90.08 | 4.72% | Buy |
| IDA | IDACORP | $106.94 | $105.75 | -1.11% | Hold |
| CMS | CMS Energy | $68.39 | $66.85 | -2.25% | Buy |
| ETR | Entergy | $142.43 | $127.67 | -10.36% | Buy |
| PNW | Pinnacle West Capital | $85.71 | $75.89 | -11.46% | Buy |
| MGEE | MGE Energy | $89.10 | $71.00 | -20.31% | Sell |
PNM Forecast FAQ
Is PNM Resources a good buy?
Yes, according to 5 Wall Street analysts, PNM Resources (PNM) is considered a 'Buy'. The rating consensus is based on 0 'Strong Buy' and 4 'Buy' recommendations, accounting for 80.00% of PNM's total ratings.
What is PNM's price target?
PNM Resources (PNM) average price target is $44.5 with a range of $38 to $51, implying a 9.34% from its last price of $40.7. The data is based on 5 Wall Street analysts who provided a twelve-month price target estimate in the last three months.
Will PNM Resources stock go up soon?
According to Wall Street analysts' prediction for PNM stock, the company can go up by 9.34% (from the last price of $40.7 to the average price target of $44.5), up by 25.31% based on the highest stock price target, and down by -6.63% based on the lowest stock price target.
Can PNM Resources stock reach $60?
PNM's average twelve months analyst stock price target of $44.5 does not support the claim that PNM Resources can reach $60 in the near future.
What are PNM Resources's analysts' financial forecasts?
PNM Resources's analysts financial forecasts for the fiscal year (Dec 2024) are as follows: average revenue is $2.06B (high $2.06B, low $2.06B), average EBITDA is $666.13M (high $691.99M, low $640.26M), average net income is $222.3M (high $225.53M, low $219.07M), average SG&A $320.23M (high $335.08M, low $305.38M), and average EPS is $2.67 (high $2.67, low $2.67). PNM's analysts financial forecasts for the fiscal year (Dec 2025) are as follows: average revenue is $2.05B (high $2.05B, low $2.05B), average EBITDA is $723.42M (high $723.42M, low $723.42M), average net income is $266.61M (high $266.61M, low $266.61M), average SG&A $331.49M (high $331.49M, low $331.49M), and average EPS is $2.94 (high $2.94, low $2.94).
Did the PNM's actual financial results beat the analysts' financial forecasts?
Based on PNM Resources's last annual report (Dec 2023), the company's revenue was $1.94B, which missed the average analysts forecast of $2.1B by -7.67%. Apple's EBITDA was $622.77M, missing the average prediction of $679.7M by -8.38%. The company's net income was $88.35M, missing the average estimation of $200.53M by -55.94%. Apple's SG&A was $227.9M, missing the average forecast of $323.31M by -29.51%. Lastly, the company's EPS was $1.02, missing the average prediction of $2.48 by -58.91%. In terms of the last quarterly report (Dec 2023), PNM Resources's revenue was $412.11M, missing the average analysts' forecast of $541.51M by -23.90%. The company's EBITDA was $101.24M, missing the average prediction of $190.65M by -46.90%. PNM Resources's net income was $-50.095M, missing the average estimation of $12.63M by -496.66%. The company's SG&A was $60.27M, missing the average forecast of $87.36M by -31.01%. Lastly, the company's EPS was $-0.58, missing the average prediction of $0.139 by -515.86%