American Electric Power (NASDAQ:AEP) Issues FY24 Earnings Guidance

American Electric Power (NASDAQ:AEP) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $5.53 to $5.73 for the period, compared to the consensus estimate of $5.60. American Electric Power also updated its FY 2024 guidance to 5.530-5.730 EPS.

American Electric Power Price Performance

AEP traded up $0.35 during midday trading on Friday, reaching $88.60. 3,332,409 shares of the company’s stock were exchanged, compared to its average volume of 3,771,451. American Electric Power has a one year low of $69.38 and a one year high of $92.88. The firm has a market capitalization of $46.70 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 3.09 and a beta of 0.50. The business has a 50-day simple moving average of $83.97 and a two-hundred day simple moving average of $80.77. The company has a quick ratio of 0.36, a current ratio of 0.54 and a debt-to-equity ratio of 1.50.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.25 by $0.02. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter last year, the company earned $1.11 EPS. American Electric Power’s revenue was up 6.4% on a year-over-year basis. As a group, research analysts predict that American Electric Power will post 5.58 EPS for the current year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Thursday, May 9th. American Electric Power’s dividend payout ratio (DPR) is currently 65.31%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AEP shares. LADENBURG THALM/SH SH cut shares of American Electric Power from a neutral rating to a sell rating and cut their target price for the company from $75.50 to $73.00 in a research note on Friday, March 8th. Wells Fargo & Company raised their target price on American Electric Power from $84.00 to $89.00 and gave the company an equal weight rating in a research note on Wednesday. Mizuho downgraded shares of American Electric Power from a buy rating to a neutral rating and set a $83.00 price target on the stock. in a research report on Thursday, January 11th. Royal Bank of Canada raised their price objective on shares of American Electric Power from $90.00 to $100.00 and gave the company an outperform rating in a research report on Friday. Finally, Scotiabank upped their target price on shares of American Electric Power from $86.00 to $90.00 and gave the stock a sector outperform rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $88.14.

American Electric Power Company Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.