Ameren (NYSE:AEE) Updates FY24 Earnings Guidance

Ameren (NYSE:AEE) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.52-4.72 for the period, compared to the consensus estimate of $4.62. Ameren also updated its FY 2024 guidance to 4.520-4.720 EPS.

Ameren Stock Performance

Shares of Ameren stock traded up $1.27 during trading on Friday, hitting $82.53. 2,132,414 shares of the company’s stock traded hands, compared to its average volume of 1,307,366. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.59 and a quick ratio of 0.40. Ameren has a 1 year low of $67.03 and a 1 year high of $85.74. The stock has a market capitalization of $22.01 billion, a P/E ratio of 18.97, a PEG ratio of 2.82 and a beta of 0.44. The business has a 50-day simple moving average of $73.00 and a 200-day simple moving average of $72.33.

Ameren (NYSE:AEE) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Ameren had a return on equity of 10.26% and a net margin of 16.28%. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period last year, the firm posted $0.90 earnings per share. As a group, analysts forecast that Ameren will post 4.61 EPS for the current year.

Ameren Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Wednesday, June 12th were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.25%. The ex-dividend date was Wednesday, June 12th. Ameren’s dividend payout ratio (DPR) is presently 61.61%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AEE shares. UBS Group started coverage on Ameren in a research note on Friday, July 19th. They set a buy rating and a $87.00 target price on the stock. The Goldman Sachs Group started coverage on Ameren in a research note on Wednesday, April 10th. They issued a sell rating and a $73.00 price objective on the stock. Morgan Stanley reduced their price objective on Ameren from $76.00 to $72.00 and set an equal weight rating on the stock in a research note on Monday, June 24th. Barclays raised Ameren from an equal weight rating to an overweight rating and lifted their price objective for the stock from $73.00 to $77.00 in a research note on Thursday, May 30th. Finally, StockNews.com raised Ameren from a sell rating to a hold rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $79.91.

Insider Activity at Ameren

In other Ameren news, Director Rafael Flores sold 1,500 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $71.29, for a total transaction of $106,935.00. Following the sale, the director now owns 13,768 shares in the company, valued at approximately $981,520.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Rafael Flores sold 1,500 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $71.29, for a total value of $106,935.00. Following the sale, the director now owns 13,768 shares in the company, valued at $981,520.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark C. Lindgren sold 4,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $75.53, for a total value of $302,120.00. Following the transaction, the executive vice president now owns 43,935 shares in the company, valued at approximately $3,318,410.55. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.

About Ameren

Ameren Corporation, together with its subsidiaries, operates as a public utility holding company in the United States. The company operates through four segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. It engages in the rate-regulated electric generation, transmission, and distribution activities; and rate-regulated natural gas distribution business.