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

CMS Energy (NYSE:CMS) issued an update on its FY 2024 earnings guidance on Thursday morning. 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.

CMS Energy Price Performance

Shares of CMS opened at $59.34 on Friday. The firm has a market capitalization of $17.72 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 2.31 and a beta of 0.38. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.66 and a current ratio of 2.03. CMS Energy has a one year low of $49.87 and a one year high of $63.76. The stock’s fifty day moving average is $58.76 and its 200-day moving average is $57.45.

CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.32 billion. CMS Energy had a return on equity of 12.83% and a net margin of 13.19%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the company earned $0.70 earnings per share. Equities analysts anticipate that CMS Energy will post 3.32 EPS for the current year.

CMS Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Tuesday, May 14th. CMS Energy’s payout ratio is currently 62.80%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wolfe Research raised CMS Energy from a peer perform rating to an outperform rating and set a $62.00 target price on the stock in a report on Tuesday, January 16th. BMO Capital Markets lifted their price target on CMS Energy from $67.00 to $68.00 and gave the stock an outperform rating in a research note on Friday. KeyCorp lifted their price target on CMS Energy from $65.00 to $66.00 and gave the stock an overweight rating in a research note on Friday, April 19th. Royal Bank of Canada dropped their price target on CMS Energy from $65.00 to $63.00 and set an outperform rating on the stock in a research note on Monday, March 4th. Finally, Guggenheim raised CMS Energy from a neutral rating to a buy rating and lifted their price target for the stock from $60.00 to $64.00 in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, CMS Energy presently has an average rating of Moderate Buy and an average target price of $63.33.

Insider Activity

In other news, SVP Brandon J. Hofmeister sold 3,500 shares of CMS Energy stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $57.78, for a total transaction of $202,230.00. Following the completion of the sale, the senior vice president now directly owns 68,971 shares in the company, valued at approximately $3,985,144.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.40% of the stock is owned by corporate insiders.

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.