Is Exelon Corp (NYSE:EXC) Still Struggling to Survive?
Exelon Corp (NYSE:EXC)(TREND ANALYSIS) has teamed up with Renewable Energy Systems (“RES”), a leading project developer & constructer, for the construction of a 10-megawatt (“MW”) battery storage facility in Clinton County, OH.
Advantage of a Battery Storage Facility
A battery storage facility is an innovative technology aimed at providing fast-response frequency regulation service to help electric grid operators manage the temporary mismatch between load and generation across the grid. In other words, it will help to protect the grid and ensure proper distribution of electricity from the grid even during load variations.
Details of the Project
The Clinton battery storage project will be powered by Samsung SDI’s battery energy storage system, which uses more than 16,000 high-power lithium-ion batteries to ensure performance of the highest quality. The facility will also utilize five Parker Hannifin 2-MW power conversion systems to enhance efficiency and provide longer life.
Stock Performance: Click here for a free comprehensive Trend Analysis Report
Exelon Corp (NYSE:EXC) stock is currently trading 5.9% below its 52-week-high, 34.83% above its 52-week-low. The 1-year stock price history is in the range of $25.09 – $35.95. Exelon Corp (EXC) has a price to earnings ratio of 13.32 versus Utilities sector average of 15.93. EXC stock price has outperformed the S&P 500 by 19.4%. The Electric-Integrated company is currently valued at $31.12 billion, and its share price closed the last trading session at $33.83. The stock has a 50-day moving average of $34.63 and a 200-day moving average of $30.37.
Exelon Corp (EXC) current short interest stands at 21.67 million shares. It has decreased by 11% from the same period of last month. Around 21% of the company’s shares, which are float, are short sold. With a 10-days average volume of 5.48 million shares, the number of days required to cover the short positions stand at 4 days.
EXC is forecasted to report earnings per share of $0.65 and a revenue of $8.04 billion for the 1st Quarter of the fiscal year 2016. Exelon Corp (EXC) expects to post results on April 27. The Electric-Integrated company announced last quarter earnings per share of $0.38 against a consensus Street estimate of $0.39, missing estimate by $0.01. The company posted a revenue of $6.7 billion compared to an estimation of $5.76 billion.
There are currently twenty-three analysts that cover Exelon Corp stock. Of those twenty-three, twelve have a Buy rating, ten have a Hold rating and one has a Sell rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $35.92.
A recent analyst activity consisted of Goldman Sachs who resumed their coverage on the stock with Neutral rating on April 11. Goldman Sachs fixed their price target at $37. This corresponds to a 9.37% upside from the last closing price. On the date of report, the stock closed at $34.54.
Morgan Stanley resumed their coverage on the stock with Equal-weight rating on April 6, and decreased their price target from $38 to $38. This corresponds to a 12.33% upside from the last closing price. On the date of report, the stock closed at $34.31.