American Electric Power (NASDAQ:AEP) Issues FY24 Earnings Guidance

American Electric Power (NASDAQ:AEP) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $5.53 to $5.73 for the period, compared to the consensus EPS estimate of $5.60. American Electric Power also updated its FY 2024 guidance to 5.530-5.730 EPS.

American Electric Power Stock Performance

Shares of NASDAQ AEP opened at $86.67 on Tuesday. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. American Electric Power has a 12 month low of $69.38 and a 12 month high of $93.56. The stock has a 50 day moving average of $83.63 and a 200-day moving average of $80.59. The company has a market capitalization of $45.64 billion, a P/E ratio of 20.39, a P/E/G ratio of 3.01 and a beta of 0.51.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.09). The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $5.02 billion. American Electric Power had a return on equity of 11.04% and a net margin of 11.64%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.11 earnings per share. As a group, equities research analysts predict that American Electric Power will post 5.54 EPS for the current year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a dividend of $0.88 per share. The ex-dividend date is Thursday, May 9th. This represents a $3.52 annualized dividend and a yield of 4.06%. American Electric Power’s payout ratio is currently 82.82%.

Wall Street Analyst Weigh In

AEP has been the subject of several research reports. UBS Group cut American Electric Power from a neutral rating to a sell rating and dropped their price target for the stock from $86.00 to $83.00 in a report on Monday, March 11th. Scotiabank dropped their price target on American Electric Power from $92.00 to $86.00 and set a sector outperform rating for the company in a report on Monday, April 22nd. Barclays lifted their price objective on American Electric Power from $83.00 to $84.00 and gave the company an equal weight rating in a report on Monday, April 15th. StockNews.com cut American Electric Power from a hold rating to a sell rating in a report on Friday, March 15th. Finally, LADENBURG THALM/SH SH cut American Electric Power from a neutral rating to a sell rating and dropped their price objective for the company from $75.50 to $73.00 in a report on Friday, March 8th. Three analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power currently has an average rating of Hold and an average price target of $86.08.

American Electric Power Company Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.