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 Energy stock traded down $1.14 during trading hours on Friday, reaching $59.34. 2,386,366 shares of the company’s stock were exchanged, compared to its average volume of 2,522,026. CMS Energy has a 1 year low of $49.87 and a 1 year high of $63.76. The company has a market capitalization of $17.72 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 2.35 and a beta of 0.38. The business has a fifty day moving average of $58.76 and a two-hundred day moving average of $57.42. The company has a quick ratio of 0.66, a current ratio of 2.03 and a debt-to-equity ratio of 1.91.

CMS Energy (NYSE:CMS) last released its earnings results on Thursday, April 25th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. CMS Energy had a net margin of 13.19% and a return on equity of 12.83%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, research analysts predict that CMS Energy will post 3.32 earnings per share for the current fiscal year.

CMS Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CMS shares. JPMorgan Chase & Co. upped their price objective on shares of CMS Energy from $65.00 to $66.00 and gave the company an overweight rating in a report on Wednesday, March 13th. Barclays lowered their target price on shares of CMS Energy from $58.00 to $57.00 and set an equal weight rating for the company in a research note on Monday, April 15th. Royal Bank of Canada lowered their target price on shares of CMS Energy from $65.00 to $63.00 and set an outperform rating for the company in a research note on Monday, March 4th. Seaport Res Ptn lowered shares of CMS Energy from a buy rating to a neutral rating in a research note on Monday, January 8th. Finally, Scotiabank lowered their target price on shares of CMS Energy from $67.00 to $66.00 and set a sector outperform rating for the company in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, CMS Energy currently has an average rating of Moderate Buy and a consensus target price of $63.33.

Insider Transactions at CMS Energy

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $57.78, for a total value of $202,230.00. Following the sale, the senior vice president now owns 68,971 shares of the company’s stock, valued at $3,985,144.38. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.40% of the company’s stock.

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.