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 guidance of 3.290-3.350 for the period, compared to the consensus earnings per share 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

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

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

CMS Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

CMS has been the topic of several recent analyst reports. Scotiabank decreased their price target on CMS Energy from $67.00 to $66.00 and set a sector outperform rating on the stock in a research note on Monday, April 22nd. Wolfe Research raised CMS Energy from a peer perform rating to an outperform rating and set a $62.00 price objective on the stock in a report on Tuesday, January 16th. UBS Group downgraded CMS Energy from a buy rating to a neutral rating and set a $65.00 price objective on the stock. in a report on Thursday, April 4th. Guggenheim raised CMS Energy from a neutral rating to a buy rating and raised their price objective for the company from $60.00 to $64.00 in a report on Friday, February 2nd. Finally, Barclays cut their price objective on CMS Energy from $58.00 to $57.00 and set an equal weight rating on the stock in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, CMS Energy has an average rating of Moderate Buy and an average target price of $63.33.

Insider Buying and Selling

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.78, for a total transaction of $202,230.00. Following the transaction, the senior vice president now directly owns 68,971 shares of the company’s stock, valued at approximately $3,985,144.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.40% of the stock is owned by company 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.