Zacks: Brokerages Expect American Electric Power Company, Inc. (NASDAQ:AEP) Will Post Quarterly Sales of $4.14 Billion


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Equities research analysts expect American Electric Power Company, Inc. (NASDAQ:AEP) to announce $4.14 billion in sales for the current quarter, according to Zacks. Two analysts have made estimates for American Electric Power’s earnings. The lowest sales estimate is $3.94 billion and the highest is $4.34 billion. American Electric Power posted sales of $3.75 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 10.4%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, April 22nd.

On average, analysts expect that American Electric Power will report full year sales of $16.12 billion for the current fiscal year, with estimates ranging from $15.52 billion to $17.03 billion. For the next financial year, analysts forecast that the business will post sales of $16.70 billion, with estimates ranging from $16.24 billion to $17.53 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover American Electric Power.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Wednesday, February 24th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.79 by $0.08. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.97 billion. American Electric Power had a return on equity of 10.19% and a net margin of 12.82%. The business’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 EPS.

AEP has been the subject of a number of analyst reports. Morgan Stanley boosted their price objective on American Electric Power from $98.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, March 25th. The Goldman Sachs Group downgraded American Electric Power from a “neutral” rating to a “sell” rating and lowered their price target for the company from $90.00 to $83.00 in a report on Thursday, January 14th. Wells Fargo & Company downgraded American Electric Power from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $101.00 to $88.00 in a research note on Wednesday, January 6th. Edward Jones initiated coverage on American Electric Power in a research report on Tuesday, March 16th. They set a “buy” rating for the company. Finally, Mizuho boosted their price objective on American Electric Power from $83.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. American Electric Power has a consensus rating of “Buy” and a consensus target price of $92.92.

NASDAQ:AEP opened at $88.55 on Wednesday. American Electric Power has a 12-month low of $74.80 and a 12-month high of $94.21. The firm has a market capitalization of $43.98 billion, a P/E ratio of 22.88, a P/E/G ratio of 3.00 and a beta of 0.22. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.48 and a quick ratio of 0.34. The business has a 50 day simple moving average of $82.65 and a 200 day simple moving average of $82.28.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Investors of record on Wednesday, February 10th were issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Tuesday, February 9th. American Electric Power’s payout ratio is currently 69.81%.

In other American Electric Power news, CEO Nicholas K. Akins sold 2,100 shares of the business’s stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $84.90, for a total transaction of $178,290.00. Following the sale, the chief executive officer now owns 136,264 shares of the company’s stock, valued at $11,568,813.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Charles R. Patton sold 14,791 shares of the business’s stock in a transaction on Tuesday, March 23rd. The stock was sold at an average price of $85.00, for a total transaction of $1,257,235.00. Following the completion of the sale, the executive vice president now directly owns 29,367 shares in the company, valued at approximately $2,496,195. The disclosure for this sale can be found here. Insiders have sold 118,935 shares of company stock valued at $9,204,606 in the last quarter. 0.16% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Carnegie Capital Asset Management LLC boosted its holdings in American Electric Power by 2.6% in the 1st quarter. Carnegie Capital Asset Management LLC now owns 5,034 shares of the company’s stock worth $426,000 after buying an additional 126 shares during the period. Stock Yards Bank & Trust Co. lifted its stake in American Electric Power by 4.9% in the 1st quarter. Stock Yards Bank & Trust Co. now owns 2,831 shares of the company’s stock worth $240,000 after purchasing an additional 133 shares in the last quarter. 4J Wealth Management LLC raised its position in shares of American Electric Power by 5.3% during the 1st quarter. 4J Wealth Management LLC now owns 2,677 shares of the company’s stock valued at $227,000 after buying an additional 134 shares in the last quarter. Richard P Slaughter Associates Inc raised its position in shares of American Electric Power by 1.1% during the 4th quarter. Richard P Slaughter Associates Inc now owns 11,935 shares of the company’s stock valued at $993,000 after buying an additional 135 shares in the last quarter. Finally, Asset Dedication LLC raised its position in shares of American Electric Power by 34.2% during the 4th quarter. Asset Dedication LLC now owns 534 shares of the company’s stock valued at $43,000 after buying an additional 136 shares in the last quarter. 75.01% of the stock is owned by institutional investors.

About American Electric Power

American Electric Power Co, Inc engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing. The Vertically Integrated Utilities segment engages in the generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by its subsidiaries.

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