Ameren (NYSE:AEE) Issues FY 2024 Earnings Guidance

Ameren (NYSE:AEE) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 4.520-4.720 for the period, compared to the consensus estimate of 4.610. The company issued revenue guidance of -. Ameren also updated its FY24 guidance to $4.52-4.72 EPS.

Ameren Trading Up 1.6 %

AEE stock traded up $1.27 during midday trading on Friday, reaching $82.53. 2,132,414 shares of the company’s stock traded hands, compared to its average volume of 1,307,366. Ameren has a fifty-two week low of $67.03 and a fifty-two week high of $85.74. The business has a 50-day moving average price of $73.00 and a two-hundred day moving average price of $72.33. The company has a market capitalization of $22.01 billion, a P/E ratio of 18.97, a PEG ratio of 2.87 and a beta of 0.44. 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 (NYSE:AEE) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. Ameren had a net margin of 16.28% and a return on equity of 10.26%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the business posted $0.90 EPS. The business’s quarterly revenue was down 3.8% on a year-over-year basis. Equities research analysts forecast that Ameren will post 4.61 EPS for the current fiscal year.

Ameren Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. The Goldman Sachs Group started coverage on Ameren in a report on Wednesday, April 10th. They issued a sell rating and a $73.00 price target for the company. BMO Capital Markets lowered their price target on shares of Ameren from $81.00 to $80.00 and set an outperform rating for the company in a report on Monday, June 24th. Barclays upgraded shares of Ameren from an equal weight rating to an overweight rating and boosted their price objective for the stock from $73.00 to $77.00 in a report on Thursday, May 30th. UBS Group initiated coverage on Ameren in a research note on Friday, July 19th. They set a buy rating and a $87.00 price objective for the company. Finally, StockNews.com upgraded Ameren from a sell rating to a hold rating in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $79.91.

Insider Buying and Selling

In related news, Director Rafael Flores sold 1,500 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $71.29, for a total transaction of $106,935.00. Following the completion of the sale, the director now owns 13,768 shares of the company’s stock, valued at approximately $981,520.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Rafael Flores sold 1,500 shares of the stock in a transaction dated Friday, June 7th. The shares were 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 of the company’s stock, valued at approximately $981,520.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark C. Lindgren sold 4,000 shares of Ameren stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $75.53, for a total value of $302,120.00. Following the sale, the executive vice president now directly 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 company 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.