Ameren (NYSE:AEE) Updates FY 2024 Earnings Guidance

Ameren (NYSE:AEE) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 4.520-4.720 for the period, compared to the consensus estimate of 4.610. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several research firms have recently commented on AEE. BMO Capital Markets upped their price target on Ameren from $76.00 to $81.00 and gave the stock an outperform rating in a research note on Monday. Barclays reduced their price target on shares of Ameren from $74.00 to $73.00 and set an equal weight rating on the stock in a report on Monday, April 15th. The Goldman Sachs Group initiated coverage on Ameren in a research report on Wednesday, April 10th. They issued a sell rating and a $73.00 price objective for the company. StockNews.com lowered shares of Ameren from a hold rating to a sell rating in a report on Friday, April 12th. Finally, Bank of America increased their price target on Ameren from $77.00 to $78.00 and gave the company a neutral rating in a report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Ameren has an average rating of Hold and an average target price of $79.90.

Ameren Price Performance

Shares of Ameren stock traded down $0.08 during midday trading on Monday, hitting $74.01. 894,223 shares of the company were exchanged, compared to its average volume of 1,720,894. The firm has a 50 day simple moving average of $72.75 and a 200-day simple moving average of $73.36. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.59 and a quick ratio of 0.40. Ameren has a 52 week low of $67.03 and a 52 week high of $90.72. The firm has a market cap of $19.72 billion, a P/E ratio of 16.99, a PEG ratio of 2.49 and a beta of 0.44.

Ameren (NYSE:AEE) last posted its quarterly earnings data on Friday, May 3rd. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.08). Ameren had a return on equity of 10.20% and a net margin of 15.84%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period in the prior year, the company posted $1.00 EPS. The firm’s quarterly revenue was down 11.9% compared to the same quarter last year. Research analysts forecast that Ameren will post 4.59 earnings per share for the current year.

Ameren Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Wednesday, March 13th were issued a dividend of $0.67 per share. This is an increase from Ameren’s previous quarterly dividend of $0.63. This represents a $2.68 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend was Tuesday, March 12th. Ameren’s dividend payout ratio (DPR) is 61.61%.

Insider Buying and Selling at Ameren

In related news, CEO Martin J. Lyons sold 7,270 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $70.70, for a total transaction of $513,989.00. Following the transaction, the chief executive officer now directly owns 246,434 shares in the company, valued at $17,422,883.80. The sale was disclosed in a filing with the SEC, which is available through this link. In other Ameren news, EVP Mark C. Lindgren sold 1,630 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $70.70, for a total transaction of $115,241.00. Following the completion of the transaction, the executive vice president now directly owns 47,883 shares in the company, valued at $3,385,328.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Martin J. Lyons sold 7,270 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $70.70, for a total transaction of $513,989.00. Following the transaction, the chief executive officer now owns 246,434 shares of the company’s stock, valued at $17,422,883.80. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

Ameren Company Profile

Ameren Corporation, together with its subsidiaries, operates as a public utility holding company in the United States. The company operates through four segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. It engages in the rate-regulated electric generation, transmission, and distribution activities; and rate-regulated natural gas distribution business.