American Electric Power (NASDAQ:AEP) Posts Earnings Results, Beats Expectations By $0.02 EPS

American Electric Power (NASDAQ:AEP) announced its earnings results on Tuesday. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.02, Yahoo Finance reports. American Electric Power had a return on equity of 11.04% and a net margin of 11.64%. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the prior year, the company posted $1.11 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. American Electric Power updated its FY 2024 guidance to 5.530-5.730 EPS and its FY24 guidance to $5.53 to $5.73 EPS.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $86.03 on Wednesday. The business’s fifty day simple moving average is $83.74 and its 200-day simple moving average is $80.67. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 1.49. The firm has a market cap of $45.30 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 3.01 and a beta of 0.51. American Electric Power has a 52 week low of $69.38 and a 52 week high of $93.56.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a $0.88 dividend. The ex-dividend date is Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a yield of 4.09%. American Electric Power’s dividend payout ratio is currently 82.82%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AEP shares. Cfra reaffirmed a “buy” rating and issued a $92.00 price target (up from $90.00) on shares of American Electric Power in a research note on Tuesday, February 27th. LADENBURG THALM/SH SH downgraded American Electric Power from a “neutral” rating to a “sell” rating and decreased their target price for the company from $75.50 to $73.00 in a research report on Friday, March 8th. UBS Group cut American Electric Power from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $86.00 to $83.00 in a research report on Monday, March 11th. StockNews.com lowered American Electric Power from a “hold” rating to a “sell” rating in a report on Friday, March 15th. Finally, Mizuho lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Thursday, January 11th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $86.08.

About American Electric Power

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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.