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

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Mizuho lowered shares of CMS Energy from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $76.00 to $72.00 in a research note on Tuesday, October 15th. Scotiabank boosted their price target on CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. KeyCorp lifted their target price on CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Bank of America boosted their target price on CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, StockNews.com raised CMS Energy from a “sell” rating to a “hold” rating in a report on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, CMS Energy has a consensus rating of “Moderate Buy” and a consensus target price of $69.85.

CMS Energy Stock Performance

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

CMS Energy (NYSE:CMS) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.88 billion. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.61 earnings per share. Analysts anticipate that CMS Energy will post 3.33 earnings per share for the current fiscal year.

CMS Energy Increases Dividend

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

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.