Ameren (NYSE:AEE) Issues FY 2024 Earnings Guidance

Ameren (NYSE:AEE) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 4.520-4.720 for the period, compared to the consensus EPS estimate of 4.610. The company issued revenue guidance of -. Ameren also updated its FY24 guidance to $4.52-4.72 EPS.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AEE. Barclays upgraded shares of Ameren from an equal weight rating to an overweight rating and raised their target price for the company from $73.00 to $77.00 in a research note on Thursday, May 30th. StockNews.com upgraded shares of Ameren from a sell rating to a hold rating in a research report on Wednesday, May 8th. Morgan Stanley decreased their price target on shares of Ameren from $76.00 to $72.00 and set an equal weight rating on the stock in a research report on Monday, June 24th. BMO Capital Markets decreased their price target on shares of Ameren from $81.00 to $80.00 and set an outperform rating on the stock in a research report on Monday, June 24th. Finally, Bank of America raised their price target on shares of Ameren from $77.00 to $78.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $79.91.

Ameren Price Performance

Shares of AEE stock traded up $1.99 during trading hours on Thursday, reaching $81.26. 1,528,681 shares of the company were exchanged, compared to its average volume of 1,691,321. Ameren has a fifty-two week low of $67.03 and a fifty-two week high of $85.74. The stock’s fifty day moving average is $72.58 and its two-hundred day moving average is $72.18. The company has a market cap of $21.67 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 2.76 and a beta of 0.44. 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 (NYSE:AEE) last posted its quarterly earnings results on Thursday, May 9th. The utilities provider reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.08). The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.19 billion. Ameren had a return on equity of 10.20% and a net margin of 15.84%. The company’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period last year, the firm earned $1.00 earnings per share. Sell-side analysts forecast that Ameren will post 4.61 earnings per share for the current fiscal year.

Ameren Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Wednesday, June 12th were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Wednesday, June 12th. Ameren’s dividend payout ratio (DPR) is 61.61%.

Insider Buying and Selling

In other Ameren news, Director Rafael Flores sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $71.29, for a total value of $106,935.00. Following the completion of the sale, the director now owns 13,768 shares of the company’s stock, valued at $981,520.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ameren news, Director Rafael Flores sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $71.29, for a total value of $106,935.00. Following the completion of the sale, the director now owns 13,768 shares of the company’s stock, valued at $981,520.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark C. Lindgren sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $75.53, for a total transaction of $302,120.00. Following the completion of the sale, the executive vice president now directly owns 43,935 shares of the company’s stock, valued at approximately $3,318,410.55. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

About Ameren

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.