CMS Energy (NYSE:CMS) Updates FY24 Earnings Guidance

CMS Energy (NYSE:CMS) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.29 to $3.35 for the period, compared to the consensus earnings per share estimate of $3.33. CMS Energy also updated its FY 2024 guidance to 3.290-3.350 EPS.

CMS Energy Stock Down 1.9 %

CMS opened at $68.30 on Friday. CMS Energy has a fifty-two week low of $54.13 and a fifty-two week high of $72.40. The company has a market capitalization of $20.40 billion, a P/E ratio of 20.95, a P/E/G ratio of 2.79 and a beta of 0.41. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.18 and a quick ratio of 0.87. The firm’s fifty day moving average price is $69.80 and its two-hundred day moving average price is $64.67.

CMS Energy (NYSE:CMS) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.88 billion. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 earnings per share. On average, analysts anticipate that CMS Energy will post 3.33 EPS for the current year.

CMS Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Wednesday, November 13th. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s dividend payout ratio (DPR) is 63.19%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on CMS Energy from $70.00 to $77.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Morgan Stanley boosted their price target on shares of CMS Energy from $63.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Evercore ISI raised shares of CMS Energy to a “hold” rating in a report on Friday, July 26th. Bank of America boosted their target price on CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, BMO Capital Markets dropped their price target on CMS Energy from $77.00 to $76.00 and set an “outperform” rating for the company in a report on Friday. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $69.85.

CMS Energy Company Profile

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources.