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 FY24 guidance to $3.29 to $3.35 EPS.

Wall Street Analyst Weigh In

A number of brokerages have commented on CMS. Royal Bank of Canada reduced their target price on shares of CMS Energy from $65.00 to $63.00 and set an outperform rating for the company in a report on Monday, March 4th. Wolfe Research upgraded shares of CMS Energy from a peer perform rating to an outperform rating and set a $62.00 target price for the company in a research note on Tuesday, January 16th. UBS Group downgraded CMS Energy from a buy rating to a neutral rating and set a $65.00 price target on the stock. in a research report on Thursday, April 4th. Barclays lowered their price objective on CMS Energy from $58.00 to $57.00 and set an equal weight rating for the company in a research report on Monday, April 15th. Finally, BMO Capital Markets upped their target price on CMS Energy from $67.00 to $68.00 and gave the company an outperform rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $63.33.

CMS Energy Stock Performance

Shares of CMS Energy stock traded down $1.13 on Friday, reaching $59.35. 2,386,366 shares of the stock were exchanged, compared to its average volume of 2,514,217. The business has a 50 day moving average price of $58.72 and a two-hundred day moving average price of $57.38. The firm has a market capitalization of $17.72 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 2.34 and a beta of 0.38. CMS Energy has a twelve month low of $49.87 and a twelve month high of $63.76. The company has a quick ratio of 0.66, a current ratio of 0.98 and a debt-to-equity ratio of 1.84.

CMS Energy (NYSE:CMS) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.32 billion. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.70 EPS. Analysts anticipate that CMS Energy will post 3.33 earnings per share for the current fiscal year.

CMS Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 3.47%. The ex-dividend date is Tuesday, May 14th. CMS Energy’s dividend payout ratio is currently 68.44%.

Insider Transactions at CMS Energy

In other CMS Energy news, SVP Brandon J. Hofmeister sold 3,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.78, for a total value of $202,230.00. Following the completion of the transaction, the senior vice president now owns 68,971 shares in the company, valued at $3,985,144.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.40% of the company’s stock.

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.