Chesapeake Utilities (NYSE:CPK) Updates FY 2024 Earnings Guidance

Chesapeake Utilities (NYSE:CPK) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 5.330-5.450 for the period, compared to the consensus estimate of 5.390. The company issued revenue guidance of -. Chesapeake Utilities also updated its FY 2025 guidance to 6.150-6.350 EPS.

Chesapeake Utilities Stock Performance

CPK stock opened at $113.90 on Friday. The firm has a 50 day moving average of $111.05 and a two-hundred day moving average of $107.26. Chesapeake Utilities has a 12 month low of $83.79 and a 12 month high of $120.84. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 23.93 and a beta of 0.60. The company has a quick ratio of 0.38, a current ratio of 0.46 and a debt-to-equity ratio of 0.93.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.02). The business had revenue of $166.30 million during the quarter, compared to analyst estimates of $194.70 million. Chesapeake Utilities had a net margin of 13.90% and a return on equity of 10.17%. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 EPS. As a group, equities analysts anticipate that Chesapeake Utilities will post 5.41 EPS for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Monday, September 16th. Chesapeake Utilities’s dividend payout ratio is 53.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wells Fargo & Company upped their target price on Chesapeake Utilities from $105.00 to $115.00 and gave the stock an equal weight rating in a research report on Friday, May 10th. Barclays started coverage on shares of Chesapeake Utilities in a research note on Thursday, May 30th. They issued an equal weight rating and a $111.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $109.80.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula, Ohio, and Florida; and regulated electric distribution in northeast and northwest Florida.