Ameren (NYSE:AEE) Updates FY24 Earnings Guidance

Ameren (NYSE:AEE) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $4.52-4.72 for the period, compared to the consensus earnings per share estimate of $4.62. Ameren also updated its FY 2024 guidance to 4.520-4.720 EPS.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. UBS Group assumed coverage on Ameren in a research report on Friday, July 19th. They issued a buy rating and a $87.00 price objective for the company. The Goldman Sachs Group initiated coverage on Ameren in a report on Wednesday, April 10th. They set a sell rating and a $73.00 target price on the stock. Barclays upgraded Ameren from an equal weight rating to an overweight rating and raised their target price for the stock from $73.00 to $77.00 in a report on Thursday, May 30th. StockNews.com upgraded Ameren from a sell rating to a hold rating in a report on Wednesday, May 8th. Finally, Bank of America lifted their price objective on Ameren from $77.00 to $78.00 and gave the company a neutral rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $79.91.

Ameren Stock Up 1.6 %

Ameren stock traded up $1.27 during midday trading on Friday, reaching $82.53. The stock had a trading volume of 2,132,414 shares, compared to its average volume of 1,307,366. The firm’s fifty day simple moving average is $73.00 and its 200-day simple moving average is $72.33. Ameren has a 1-year low of $67.03 and a 1-year high of $85.74. The stock has a market capitalization of $22.01 billion, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 2.82 and a beta of 0.44. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.40 and a current ratio of 0.59.

Ameren (NYSE:AEE) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.87 billion. Ameren had a return on equity of 10.26% and a net margin of 16.28%. Ameren’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 EPS. As a group, analysts expect that Ameren will post 4.61 EPS for the current fiscal year.

Ameren Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Wednesday, June 12th were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.25%. The ex-dividend date was Wednesday, June 12th. Ameren’s dividend payout ratio (DPR) is 61.61%.

Insiders Place Their Bets

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