American Electric Power (NASDAQ:AEP) Issues FY 2024 Earnings Guidance

American Electric Power (NASDAQ:AEP) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 5.530-5.730 for the period, compared to the consensus EPS estimate of 5.590. The company issued revenue guidance of -. American Electric Power also updated its FY24 guidance to $5.53 to $5.73 EPS.

American Electric Power Trading Up 0.9 %

AEP stock traded up $0.74 during midday trading on Tuesday, hitting $87.41. 2,520,376 shares of the company’s stock were exchanged, compared to its average volume of 3,730,855. The stock’s fifty day moving average price is $83.63 and its 200-day moving average price is $80.59. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.53. The company has a market cap of $46.03 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 3.01 and a beta of 0.51. American Electric Power has a one year low of $69.38 and a one year high of $93.56.

American Electric Power (NASDAQ:AEP) last released its earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.09). The company had revenue of $5 billion during the quarter, compared to analyst estimates of $5.02 billion. American Electric Power had a net margin of 11.64% and a return on equity of 11.04%. American Electric Power’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.11 EPS. Research analysts predict that American Electric Power will post 5.54 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $3.52 annualized dividend and a dividend yield of 4.03%. American Electric Power’s dividend payout ratio (DPR) is presently 82.82%.

Wall Street Analyst Weigh In

A number of analysts have commented on AEP shares. BMO Capital Markets upped their price target on shares of American Electric Power from $87.00 to $88.00 and gave the company an outperform rating in a research report on Tuesday, February 27th. Guggenheim lowered shares of American Electric Power from a buy rating to a neutral rating and set a $81.00 price objective for the company. in a research note on Monday, January 22nd. Cfra reiterated a buy rating and issued a $92.00 price objective (up previously from $90.00) on shares of American Electric Power in a research note on Tuesday, February 27th. UBS Group lowered shares of American Electric Power from a neutral rating to a sell rating and decreased their price objective for the company from $86.00 to $83.00 in a research note on Monday, March 11th. Finally, LADENBURG THALM/SH SH lowered shares of American Electric Power from a neutral rating to a sell rating and decreased their price objective for the company from $75.50 to $73.00 in a research note on Friday, March 8th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $86.08.

About American Electric Power

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.