CMS Energy (NYSE:CMS) Updates FY24 Earnings Guidance

CMS Energy (NYSE:CMS) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.29 to $3.35 for the period, compared to the consensus earnings per share estimate of $3.33. CMS Energy also updated its FY 2024 guidance to 3.290-3.350 EPS.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com raised CMS Energy from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. Mizuho cut CMS Energy from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $76.00 to $72.00 in a report on Tuesday, October 15th. Guggenheim lifted their price objective on shares of CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 26th. KeyCorp upped their target price on shares of CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Scotiabank lifted their price target on shares of CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.85.

CMS Energy Price Performance

Shares of NYSE:CMS opened at $68.30 on Friday. The company has a market cap of $20.40 billion, a PE ratio of 20.95, a P/E/G ratio of 2.79 and a beta of 0.41. CMS Energy has a fifty-two week low of $54.13 and a fifty-two week high of $72.40. The firm has a 50-day simple moving average of $69.80 and a 200 day simple moving average of $64.67. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 1.80.

CMS Energy (NYSE:CMS) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.78 by $0.06. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.88 billion. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 earnings per share. On average, sell-side analysts anticipate that CMS Energy will post 3.33 EPS for the current year.

CMS Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.02%. This is a boost from CMS Energy’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, November 13th. CMS Energy’s dividend payout ratio (DPR) is presently 63.19%.

About CMS Energy

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.