PG&E (NYSE:PCG) Releases FY 2021 Pre-Market Earnings Guidance

PG&E (NYSE:PCG) issued an update on its FY 2021
Pre-Market earnings guidance on Thursday morning. The company provided EPS guidance of 0.95-1.05 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.66. PG&E also updated its FY 2020
Pre-Market guidance to 1.60-1.63 EPS.

PCG has been the topic of a number of research analyst reports. UBS Group upgraded PG&E from a neutral rating to a buy rating and increased their price target for the stock from $14.00 to $15.00 in a report on Monday, May 4th. Zacks Investment Research lowered shares of PG&E from a hold rating to a strong sell rating and set a $8.00 target price on the stock. in a research note on Tuesday, July 21st. Bank of America started coverage on shares of PG&E in a research note on Friday, June 5th. They issued a buy rating and a $14.00 price target for the company. Wells Fargo & Co reissued a hold rating on shares of PG&E in a research report on Tuesday, June 30th. Finally, Barclays raised their target price on PG&E from $15.00 to $16.00 in a research note on Wednesday, June 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $14.38.

Shares of PG&E stock opened at $9.35 on Friday. The company has a market cap of $18.15 billion, a PE ratio of -0.72, a price-to-earnings-growth ratio of 2.31 and a beta of 1.10. The company has a quick ratio of 1.20, a current ratio of 1.28 and a debt-to-equity ratio of 0.29. PG&E has a 52 week low of $3.55 and a 52 week high of $19.18. The business has a 50 day moving average price of $9.58 and a 200-day moving average price of $11.75.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, July 30th. The utilities provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.35. The business had revenue of $4.53 billion for the quarter. PG&E had a negative net margin of 37.92% and a positive return on equity of 30.85%. As a group, research analysts anticipate that PG&E will post 1.61 EPS for the current year.

About PG&E

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,000 circuit miles of distribution lines, 50 transmission switching substations, and 769 distribution substations; and electricity transmission network comprises approximately 18,000 circuit miles of interconnected transmission lines and 84 electric transmission substations.

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Earnings History and Estimates for PG&E (NYSE:PCG)

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