CMS Energy (NYSE:CMS) Issues 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

NYSE CMS traded down $1.31 on Friday, reaching $68.30. The company’s stock had a trading volume of 2,807,363 shares, compared to its average volume of 2,256,258. CMS Energy has a twelve month low of $54.13 and a twelve month high of $72.40. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18. The firm’s 50 day moving average is $69.80 and its two-hundred day moving average is $64.62. The stock has a market cap of $20.40 billion, a PE ratio of 20.95, a PEG ratio of 2.79 and a beta of 0.41.

CMS Energy (NYSE:CMS) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.06. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the business posted $0.61 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts predict 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. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 3.02%. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Wednesday, November 13th. CMS Energy’s dividend payout ratio is currently 63.19%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CMS. Scotiabank lifted their target price on shares of CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. StockNews.com upgraded shares of CMS Energy from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. Guggenheim increased their target price on CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, July 26th. BMO Capital Markets lowered their price target on CMS Energy from $77.00 to $76.00 and set an “outperform” rating on the stock in a report on Friday. Finally, KeyCorp raised their price objective on CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, CMS Energy has a consensus rating of “Moderate Buy” and a consensus 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.