Ameren (NYSE:AEE) Issues FY24 Earnings Guidance

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AEE. UBS Group began coverage on Ameren in a report on Friday, July 19th. They set a buy rating and a $87.00 target price for the company. StockNews.com raised Ameren from a sell rating to a hold rating in a research report on Wednesday, May 8th. Bank of America increased their target price on Ameren from $77.00 to $78.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. The Goldman Sachs Group began coverage on Ameren in a research report on Wednesday, April 10th. They issued a sell rating and a $73.00 target price for the company. Finally, Barclays upgraded Ameren from an equal weight rating to an overweight rating and upped their price target for the stock from $73.00 to $77.00 in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $79.91.

Ameren Stock Up 1.6 %

AEE 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’s 50 day simple moving average is $73.00 and its two-hundred day simple moving average is $72.33. The company has a current ratio of 0.59, a quick ratio of 0.40 and a debt-to-equity ratio of 1.31. Ameren has a 12-month low of $67.03 and a 12-month high of $85.74. The stock has a market capitalization of $22.01 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 2.82 and a beta of 0.44.

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

Ameren Dividend Announcement

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

Insider Buying and Selling at Ameren

In other news, EVP Mark C. Lindgren sold 4,000 shares of the firm’s stock in a transaction 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 directly owns 43,935 shares in the company, valued at approximately $3,318,410.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Mark C. Lindgren sold 4,000 shares of the firm’s stock in a transaction 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 directly owns 43,935 shares in the company, valued at approximately $3,318,410.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Rafael Flores sold 1,500 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $71.29, for a total value of $106,935.00. Following the completion of the transaction, the director now owns 13,768 shares in the company, valued at $981,520.72. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Ameren Company Profile

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.