CMS Energy (NYSE:CMS) Releases FY24 Earnings Guidance

CMS Energy (NYSE:CMS) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $3.29 to $3.35 for the period, compared to the consensus EPS estimate of $3.33. CMS Energy also updated its FY 2024 guidance to 3.290-3.350 EPS.

CMS Energy Trading Up 0.6 %

Shares of NYSE CMS opened at $60.28 on Thursday. The stock has a fifty day simple moving average of $58.65 and a 200-day simple moving average of $57.36. CMS Energy has a twelve month low of $49.87 and a twelve month high of $63.76. The company has a current ratio of 0.98, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $18.00 billion, a PE ratio of 20.03, a PEG ratio of 2.32 and a beta of 0.38.

CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.10). The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.32 billion. CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 EPS. On average, equities analysts forecast that CMS Energy will post 3.33 earnings per share for the current year.

CMS Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Tuesday, May 14th. CMS Energy’s dividend payout ratio is currently 68.44%.

Analyst Ratings Changes

Several brokerages have weighed in on CMS. Wolfe Research upgraded CMS Energy from a peer perform rating to an outperform rating and set a $62.00 price target on the stock in a report on Tuesday, January 16th. Barclays lowered their target price on shares of CMS Energy from $58.00 to $57.00 and set an equal weight rating on the stock in a research report on Monday, April 15th. Scotiabank reduced their price target on shares of CMS Energy from $67.00 to $66.00 and set a sector outperform rating for the company in a research report on Monday. Royal Bank of Canada lowered their price objective on shares of CMS Energy from $65.00 to $63.00 and set an outperform rating on the stock in a research report on Monday, March 4th. Finally, BMO Capital Markets upped their target price on shares of CMS Energy from $63.00 to $64.00 and gave the company an outperform rating in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $63.00.

Insider Activity

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $57.78, for a total transaction of $202,230.00. Following the transaction, the senior vice president now owns 68,971 shares of the company’s stock, valued at $3,985,144.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.40% of the company’s stock.

About CMS Energy

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources.