The stock of PPL Corporation (NYSE:PPL) is now priced at $28.65 and the shares are 1.51 points up or 5.56% higher compared to its previous closing price of $27.14. PPL shares have a float of 768 million and although its performance was 8.03% over the week, it’s one to watch. Analysts have given the PPL stock a yearly average price target of $28.88 per share. It means the stock’s upside potential is 0.8% with the PPL share price recently placing at $27.5 to $29.03. However, some brokerage firms have priced the stock below the average, including one that has called $23.
The shorts are running away from the PPL Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the PPL shares have declined. Short interest in the stock represents just 1.74% of its float, but the volume has dropped by 0.
In the last trading session, PPL Corporation (NYSE:PPL) raised by $2.13 over the week and gained $3.4 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $36.83. The stock recorded its established 52-week high on 01/29/20.
Since 03/23/20, the stock has traded to a low of $18.12 at 58.11%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.77. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, PPL Corporation’s two-week RSI is 70.92. This suggests that the stock is oversold at the moment and that PPL shares’ price movement remains not stable. The stochastic readings are equally revealing at 85.71% meaning the PPL share price is currently in oversold territory.
The technical chart shows that the PPL stock will likely settle at between $29.29 and $29.92 per share. However, if the stock dips below $27.76, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $26.86.
Currently, the stock is trading in the green of MACD, with a reading of 0.59. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Seaport Global Securities cut their recommendation for PPL from Neutral to Sell in June 09 review while maintai their target price of $26.5. Mizuho analysts upgraded their recommendation of the stock from Neutral to Buy while keeping its target price at $30 in a flash note released to investors on May 29. Seaport Global Securities analysts see the stock as Neutral when the analysts initiated the share price coverage on May 20.
The average rating for the PPL equity is 2.46 and is currently gathering a bullish momentum. Of 13 analysts tracking PPL Corporation polled by Reuters, 7 rated PPL as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (5) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the PPL stock price is 11.67X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 11.7 below the group’s average of 27.8. PPL Corporation has its P/E ratio at 1.7, which means that the stock is currently trading at a discount relative to the 1.7 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for PPL Corporation (NYSE:PPL) will decrease by about -7.98%, which will see them reach $1890 million. The company’s full-year revenues are, however, expected to increase by about 2.96%, up from $7770 million to $8000 million. PPL’s expected adjusted earnings should drop almost -6.9% to end up at $0.54 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -1.63% to record $2.41/share.