Market Update: Exelon Corporation (NYSE:EXC) – Washington’s mayor, counsel, reject revision of Exelon deal for Pepco

[Reuters] – Washington Mayor Muriel Bowser and the city’s Office of the People’s Counsel both said that they would oppose changes that the city’s Public Service Commission made to a pact that would allow Exelon Corp’s deal to buy Pepco Holdings Inc, dealing a tough blow to the gigantic deal. Exelon and Pepco have won agreement from Delaware, Maryland, New Jersey, Virginia and the U.S. Federal Energy Regulatory Commission but Washington DC has thus far declined to approve it. The D.C. Public Service Commission had rejected the deal in August 2015 but agreed to reconsider it after Bowser and others negotiated $78 million payment for Washington, including ratepayer assistance and other guarantees. Read more on this. Exelon Corporation (EXC) , currently valued at $29.23B, opened at $31.77. Today, shares have traded between $31.21 and $31.96 per share with a trailing 52-week range being $25.09 to $34.98. Exelon (EXC) shares are currently priced at 12.54x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 15.19x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $1.24 per share annually in dividends, yielding 3.91%. Consensus earnings for the current quarter by the 6 sell-side analysts covering the stock is an estimate of $0.74 per share, which would be $0.03 better than the year-ago quarter and a $0.03 sequential decrease. The full-year EPS estimate is $2.53 which would be a $0.04 improvement than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $6.00 Billion. If reported, that would be a 30.56% decrease over the year-ago quarter. In terms of ratings, Citigroup downgraded EXC from Neutral to Sell (Feb 23, 2016). Previously, Citigroup upgraded EXC from Sell to Neutral. The average price target for EXC shares is $34.24, which is 7.77% above where the stock opened this morning. See more in (NYSE:EXC) Similar Articles: Market Update: Exelon Corporation (NYSE:EXC) – DC public service commission rejects Exelon deal for Pepco, offers revised settlement Market Update: Exelon Corporation (NYSE:EXC) – More Than 40,000 District Residents Sign Petition in Support of the Pepco Holdings-Exelon Merger Market Update: Exelon Corporation (NYSE:EXC) – Exelon and Pepco Holdings File for Reconsideration of Their Merger