CMS Energy (NYSE:CMS) Updates FY 2024 Earnings Guidance

CMS Energy (NYSE:CMS) updated its FY 2024 earnings guidance on Thursday. 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 FY 2025 guidance to 3.520-3.580 EPS.

CMS Energy Price Performance

Shares of CMS stock traded down $1.31 during trading hours on Friday, hitting $68.30. 2,807,363 shares of the company’s stock were exchanged, compared to its average volume of 2,256,258. The stock’s 50-day moving average is $69.80 and its 200-day moving average is $64.62. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.18 and a quick ratio of 0.87. CMS Energy has a 52 week low of $54.13 and a 52 week high of $72.40. The stock has a market cap of $20.40 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 2.79 and a beta of 0.41.

CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm posted $0.61 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. As a group, research analysts forecast that CMS Energy will post 3.33 EPS for the current year.

CMS Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s dividend payout ratio is 63.19%.

Analyst Upgrades and Downgrades

CMS has been the topic of a number of research reports. Bank of America upped their target price on shares of CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Mizuho lowered shares of CMS Energy from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $76.00 to $72.00 in a report on Tuesday, October 15th. Barclays increased their price target on CMS Energy from $65.00 to $68.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Wells Fargo & Company increased their price target on shares of CMS Energy from $70.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, KeyCorp increased their target price on shares of CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, CMS Energy has a consensus rating of “Moderate Buy” and an average target price of $69.85.

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.