CMS Energy (NYSE:CMS) Issues FY24 Earnings Guidance

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

Analyst Upgrades and Downgrades

CMS has been the topic of several research analyst reports. Seaport Res Ptn lowered CMS Energy from a buy rating to a neutral rating in a research note on Monday, January 8th. Guggenheim raised shares of CMS Energy from a neutral rating to a buy rating and increased their price objective for the stock from $60.00 to $64.00 in a research report on Friday, February 2nd. Royal Bank of Canada cut their target price on shares of CMS Energy from $65.00 to $63.00 and set an outperform rating on the stock in a research note on Monday, March 4th. Scotiabank decreased their price target on shares of CMS Energy from $67.00 to $66.00 and set a sector outperform rating for the company in a research report on Monday, April 22nd. Finally, Wolfe Research raised CMS Energy from a peer perform rating to an outperform rating and set a $62.00 price objective on the stock in a research report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $63.33.

CMS Energy Stock Down 1.9 %

Shares of NYSE CMS traded down $1.14 during midday trading on Friday, reaching $59.34. 2,386,366 shares of the company’s stock were exchanged, compared to its average volume of 2,522,026. The stock has a market capitalization of $17.72 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 2.31 and a beta of 0.38. CMS Energy has a 52-week low of $49.87 and a 52-week high of $63.76. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.66 and a current ratio of 2.03. The business’s fifty day moving average price is $58.76 and its two-hundred day moving average price is $57.45.

CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, April 25th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. CMS Energy had a return on equity of 12.83% and a net margin of 13.19%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period in the prior year, the company posted $0.70 EPS. CMS Energy’s quarterly revenue was down 4.7% on a year-over-year basis. Analysts forecast that CMS Energy will post 3.32 EPS for the current year.

CMS Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.515 per share. The ex-dividend date is Tuesday, May 14th. This represents a $2.06 annualized dividend and a dividend yield of 3.47%. CMS Energy’s payout ratio is 62.80%.

Insider Buying and Selling

In other CMS Energy news, SVP Brandon J. Hofmeister sold 3,500 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.78, for a total transaction of $202,230.00. Following the transaction, the senior vice president now owns 68,971 shares of the company’s stock, valued at approximately $3,985,144.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.40% of the company’s stock.

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.