CMS Energy (NYSE:CMS) Issues FY 2024 Earnings Guidance

CMS Energy (NYSE:CMS) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.290-3.350 for the period, compared to the consensus EPS estimate of 3.330. The company issued revenue guidance of -. CMS Energy also updated its FY 2025 guidance to 3.520-3.580 EPS.

CMS Energy Price Performance

CMS traded down $1.31 during trading on Friday, reaching $68.30. The company’s stock had a trading volume of 2,807,363 shares, compared to its average volume of 2,256,258. The company has a market cap of $20.40 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 2.79 and a beta of 0.41. The firm has a fifty day simple moving average of $69.80 and a two-hundred day simple moving average of $64.62. CMS Energy has a 1 year low of $54.13 and a 1 year high of $72.40. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 1.80.

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

CMS Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.515 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.02%. This is a positive change from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s dividend payout ratio is currently 63.19%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CMS. Evercore ISI upgraded shares of CMS Energy to a “hold” rating in a report on Friday, July 26th. Mizuho cut CMS Energy from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $76.00 to $72.00 in a report on Tuesday, October 15th. Bank of America increased their price objective on CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Barclays lifted their target price on CMS Energy from $65.00 to $68.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, BMO Capital Markets lowered 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 stock. According to MarketBeat, CMS Energy currently 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.