Evergy (NYSE:EVRG) Issues FY24 Earnings Guidance

Evergy (NYSE:EVRG) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.73-3.93 for the period, compared to the consensus earnings per share estimate of $3.83.

Evergy Stock Performance

Shares of NYSE EVRG opened at $54.57 on Thursday. Evergy has a one year low of $46.92 and a one year high of $63.39. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.51 and a quick ratio of 0.29. The firm has a market cap of $12.54 billion, a price-to-earnings ratio of 17.16, a P/E/G ratio of 2.82 and a beta of 0.57. The stock’s fifty day moving average price is $51.95 and its two-hundred day moving average price is $51.24.

Evergy (NYSE:EVRG) last announced its earnings results on Thursday, May 9th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.37). The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.35 billion. Evergy had a return on equity of 8.47% and a net margin of 13.28%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 EPS. On average, equities analysts forecast that Evergy will post 3.84 EPS for the current year.

Evergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, May 20th will be given a $0.6425 dividend. This represents a $2.57 dividend on an annualized basis and a dividend yield of 4.71%. Evergy’s payout ratio is currently 80.82%.

Analyst Ratings Changes

Several research firms have commented on EVRG. Wells Fargo & Company decreased their target price on shares of Evergy from $60.00 to $57.00 and set an overweight rating on the stock in a report on Friday, March 1st. Barclays boosted their price objective on shares of Evergy from $54.00 to $55.00 and gave the company an overweight rating in a research report on Thursday, March 14th. LADENBURG THALM/SH SH initiated coverage on Evergy in a research note on Thursday, April 4th. They issued a neutral rating and a $51.00 price target on the stock. Bank of America upgraded Evergy from a neutral rating to a buy rating and lifted their target price for the company from $51.00 to $57.00 in a research report on Wednesday, March 13th. Finally, Guggenheim cut shares of Evergy from a buy rating to a neutral rating and set a $52.00 price objective for the company. in a research report on Monday, January 22nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $56.00.

Evergy Company Profile

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in the United States. The company generates electricity through coal, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources. It serves residences, commercial firms, industrials, municipalities, and other electric utilities.