$4.80 Billion in Sales Expected for American Electric Power Company Inc (NYSE:AEP) This Quarter

Equities research analysts predict that American Electric Power Company Inc (NYSE:AEP) will announce sales of $4.80 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for American Electric Power’s earnings. The lowest sales estimate is $4.78 billion and the highest is $4.81 billion. American Electric Power posted sales of $4.30 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 11.6%. The company is scheduled to report its next quarterly earnings report on Thursday, October 24th.

On average, analysts expect that American Electric Power will report full-year sales of $16.21 billion for the current fiscal year, with estimates ranging from $15.85 billion to $16.61 billion. For the next financial year, analysts forecast that the business will post sales of $16.98 billion, with estimates ranging from $16.38 billion to $17.83 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for American Electric Power.

American Electric Power (NYSE:AEP) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $4.13 billion. American Electric Power had a net margin of 12.53% and a return on equity of 10.69%. American Electric Power’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same period last year, the company posted $1.01 EPS.

A number of analysts recently issued reports on AEP shares. UBS Group increased their target price on American Electric Power from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Wolfe Research set a $89.00 target price on American Electric Power and gave the stock a “buy” rating in a research note on Friday, April 26th. Zacks Investment Research raised American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 target price for the company in a research note on Thursday, July 11th. Morgan Stanley lowered their target price on American Electric Power from $93.00 to $91.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. Finally, KeyCorp started coverage on American Electric Power in a research note on Tuesday, June 4th. They set a “sector weight” rating for the company. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $88.33.

Shares of NYSE:AEP traded down $1.39 during mid-day trading on Friday, reaching $89.58. The stock had a trading volume of 1,579,957 shares, compared to its average volume of 2,297,904. The firm has a market cap of $45.11 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 3.91 and a beta of 0.13. The firm has a 50 day simple moving average of $89.88 and a two-hundred day simple moving average of $86.00. The company has a current ratio of 0.49, a quick ratio of 0.36 and a debt-to-equity ratio of 1.29. American Electric Power has a twelve month low of $68.92 and a twelve month high of $91.99.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be paid a dividend of $0.67 per share. The ex-dividend date is Thursday, August 8th. This represents a $2.68 dividend on an annualized basis and a yield of 2.99%. American Electric Power’s payout ratio is 67.85%.

In other news, insider Lisa M. Barton sold 1,752 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $89.41, for a total transaction of $156,646.32. Following the completion of the transaction, the insider now directly owns 34,460 shares of the company’s stock, valued at approximately $3,081,068.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian X. Tierney sold 4,458 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $89.73, for a total transaction of $400,016.34. Following the transaction, the vice president now directly owns 39,745 shares of the company’s stock, valued at $3,566,318.85. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. IMA Wealth Inc. bought a new position in shares of American Electric Power during the 2nd quarter worth approximately $30,000. JJJ Advisors Inc. bought a new position in shares of American Electric Power during the 2nd quarter worth approximately $31,000. Weaver Consulting Group bought a new position in shares of American Electric Power during the 1st quarter worth approximately $32,000. Glassman Wealth Services grew its stake in shares of American Electric Power by 138.0% during the 1st quarter. Glassman Wealth Services now owns 388 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 225 shares in the last quarter. Finally, Tarbox Family Office Inc. grew its stake in shares of American Electric Power by 38.9% during the 2nd quarter. Tarbox Family Office Inc. now owns 436 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 122 shares in the last quarter. 74.54% of the stock is owned by institutional investors.

American Electric Power Company Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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Earnings History and Estimates for American Electric Power (NYSE:AEP)

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