Ameren (NYSE:AEE) Issues Earnings Results, Beats Estimates By $0.04 EPS

Ameren (NYSE:AEE) released its earnings results on Thursday. The utilities provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04, Briefing.com reports. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.87 billion. Ameren had a net margin of 15.84% and a return on equity of 10.20%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 earnings per share. Ameren updated its FY24 guidance to $4.52-4.72 EPS and its FY 2024 guidance to 4.520-4.720 EPS.

Ameren Stock Performance

Shares of Ameren stock traded up $0.28 during midday trading on Friday, hitting $81.54. The company had a trading volume of 1,017,161 shares, compared to its average volume of 1,686,516. Ameren has a 1-year low of $67.03 and a 1-year high of $85.74. The business’s 50 day simple moving average is $72.78 and its two-hundred day simple moving average is $72.24. The stock has a market cap of $21.74 billion, a PE ratio of 18.68, a P/E/G ratio of 2.75 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Wednesday, June 12th were issued a dividend of $0.67 per share. The ex-dividend date was Wednesday, June 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.29%. Ameren’s dividend payout ratio (DPR) is presently 61.61%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Bank of America raised their price objective on Ameren from $77.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Morgan Stanley dropped their price target on Ameren from $76.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. UBS Group began coverage on shares of Ameren in a research note on Friday, July 19th. They set a “buy” rating and a $87.00 price objective for the company. BMO Capital Markets dropped their target price on shares of Ameren from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, June 24th. Finally, StockNews.com upgraded shares of Ameren from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $79.91.

Insider Activity at Ameren

In related news, EVP Mark C. Lindgren sold 4,000 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $75.53, for a total value of $302,120.00. Following the completion of the sale, the executive vice president now owns 43,935 shares in the company, valued at $3,318,410.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Rafael Flores sold 1,500 shares of the company’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 transaction, the director now owns 13,768 shares in the company, valued at approximately $981,520.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark C. Lindgren sold 4,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $75.53, for a total transaction of $302,120.00. Following the completion of the transaction, the executive vice president now directly owns 43,935 shares of the company’s stock, valued at $3,318,410.55. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

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.