American Electric Power (NASDAQ:AEP) Updates FY 2024 Earnings Guidance

American Electric Power (NASDAQ:AEP) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 5.530-5.730 for the period, compared to the consensus earnings per share estimate of 5.590. The company issued revenue guidance of -. American Electric Power also updated its FY24 guidance to $5.53 to $5.73 EPS.

American Electric Power Trading Down 0.7 %

NASDAQ AEP traded down $0.60 during trading hours on Thursday, reaching $87.55. The company’s stock had a trading volume of 643,663 shares, compared to its average volume of 3,752,222. The firm has a fifty day simple moving average of $83.85 and a 200-day simple moving average of $80.72. The stock has a market cap of $46.10 billion, a P/E ratio of 16.38, a P/E/G ratio of 3.02 and a beta of 0.50. American Electric Power has a 52 week low of $69.38 and a 52 week high of $92.88. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.54 and a quick ratio of 0.36.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.02. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. 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 firm posted $1.11 EPS. American Electric Power’s revenue was up 6.4% compared to the same quarter last year. Equities analysts forecast that American Electric Power will post 5.58 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Thursday, May 9th. American Electric Power’s dividend payout ratio is currently 65.31%.

Analyst Ratings Changes

AEP has been the subject of several recent analyst reports. Scotiabank boosted their price objective on American Electric Power from $86.00 to $90.00 and gave the stock a sector outperform rating in a report on Wednesday. LADENBURG THALM/SH SH cut American Electric Power from a neutral rating to a sell rating and reduced their price target for the stock from $75.50 to $73.00 in a research note on Friday, March 8th. Mizuho cut American Electric Power from a buy rating to a neutral rating and set a $83.00 price target on the stock. in a research note on Thursday, January 11th. BMO Capital Markets increased their target price on American Electric Power from $93.00 to $95.00 and gave the stock an outperform rating in a research note on Wednesday. Finally, Guggenheim cut American Electric Power from a buy rating to a neutral rating and set a $81.00 price objective on the stock. in a research report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, American Electric Power currently has an average rating of Hold and an average target price of $87.36.

About American Electric Power

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.