Evergy (NYSE:EVRG) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Evergy (NYSE:EVRG) posted its quarterly earnings data on Friday. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01, RTT News reports. Evergy had a return on equity of 8.32% and a net margin of 12.84%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company posted $0.81 EPS. Evergy updated its FY 2024 guidance to 3.730-3.930 EPS and its FY24 guidance to $3.73-3.93 EPS.

Evergy Price Performance

EVRG stock opened at $58.69 on Monday. Evergy has a 52-week low of $46.92 and a 52-week high of $61.14. The business has a 50-day simple moving average of $54.75 and a two-hundred day simple moving average of $52.91. The company has a market capitalization of $13.49 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 3.11 and a beta of 0.60. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.32 and a current ratio of 0.57.

Evergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, August 20th will be paid a dividend of $0.6425 per share. This represents a $2.57 dividend on an annualized basis and a yield of 4.38%. Evergy’s dividend payout ratio (DPR) is currently 83.17%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EVRG. Wells Fargo & Company boosted their target price on Evergy from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. Barclays boosted their target price on Evergy from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.83.

Evergy Company Profile

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in the United States. The company generates electricity through coal, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources. It serves residences, commercial firms, industrials, municipalities, and other electric utilities.