PG&E Corporation (NYSE:PCG) grew as high as $17.96 on Friday before closing at $17.59. The -0.96 percent plunge dragged its market cap to $9.21B. The shares went down as low as $16.72 before recovering. Trading activity significantly improved as the volume at ready counter increased to 19,725,851 shares versus 14,177,040 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 20,218,113 shares. The stock is now 11.47% above against its bear-market low of $15.78 on January 08, 2019. It has retreated -180.96% since it’s 52-week high of $49.42 reached in November. Now the market price is down -60.52% on the year and down -25.94% YTD.
PCG’s 50 day simple moving average (SMA 50) price is $28.34 and its 200-day simple moving average (SMA 200) price is $40.42. The company’s stock currently has a total float of 517.55M shares. Its weekly volatility is hovering around 10.77% and felt 6.7% volatility in price over a month. On the upside, the share price will test short term resistance at around $18.13. On a downside, the stock is likely to find some support, which begins at $16.89. The failure to get near-term support could push it to $16.18.
Separately, it has been reported that multiple insider activity took place at PG&E Corporation (PCG). President & COO, PG&E Company Stavropoulos Nickolas sold 1,161 shares for $113,664 in transaction occurred on 2018/08/22. After making this transaction, the President & COO, PG&E Company owns a direct stake of 52,001 shares, worth $1,999,350, as per the last closing price. On 2018/06/01 Kane Julie, SVP, Chief Compliance Officer at PCG, dumped 489 shares at an average price of $43.33 per share. The selling total is valued at $308,617.
SVP, Chief Compliance Officer, Kane Julie had divested 936 shares for $18,424 through a trade on 2018/03/06. Following this activity, the insider holds 39,246 shares worth $324,078 as of recent close. Wall Street’s most bullish PG&E Corporation (NYSE:PCG) analysts are predicting the share price to blow past $46 per share during the next 12 months. The current median share price forecast by them is $31, suggesting that the stock could increase 76.24% in that time frame. The average price target of $32.73 calls for a nearly 86.07% increase in the stock price.
It had seen a change in price target from analysts at BofA/Merrill, who reiterated the stock at Buy on January 09 but moved PT from $44 to $22. Analysts at Citigroup, shed their negative views on November 16 by lifting it fromNeutral to Buy. The stock lost favor of Morgan Stanley analysts who expressed their lack of confidence in it using a downgrade from Overweight to Equal-Weight on November 15.
When looking at valuations, PG&E Corporation (PCG) has a pricey P/E of 32.16x as compared to industry average of 16.94x. Moreover, it trades for 4.38 times the next 12 months of expected earnings. Also, it is trading at rather inexpensive levels at just over 0.47x price/book and 0.55x price/sales. Compared to others, PG&E Corporation is in a different league with regards to profitability, having net margins of 0.8%. To put some perspective around this, the industry’s average net margin is 19.7%. PCG’s ROE is 0.7%, which is also considerably worse than the industry’s ROE of 9.87%. It’s also not liquid in the near term, with a current ratio of 0.7. The stock has a debt/capital of 1.
Shares of PG&E Corporation (PCG) have dropped -62.9% since the company’s Mar-19 earnings report. Over the past 12 fiscal quarters, PG&E Corporation (NYSE:PCG) has topped consensus earnings estimates in 8 quarters (66%), missed earnings in 4 quarters (33%), whereas at 0 occasion EPS met analyst expectations. PCG last reported earnings on November 05, 2018 when it released Sep-18 results that receded expectations. The company raked in $1.13 per share, 253.13% change on the same period last year. That was worse than consensus for $1.13. Revenue for the recent quarter stood at $4.38 billion, down -3% on last year and below the $4.73 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $4.28 billion to $4.37 billion, which should be compared with $3.92 billion generated last year. EPS is seen in a range of $0.94 to $2.03, against the $0.94 reported a year ago.