CMS Energy (CMS) Scheduled to Post Quarterly Earnings on Thursday

CMS Energy (NYSE:CMS) is set to release its earnings data before the market opens on Thursday, July 25th. Analysts expect CMS Energy to post earnings of $0.64 per share for the quarter. CMS Energy has set its FY 2024 guidance at 3.290-3.350 EPS and its FY24 guidance at $3.29 to $3.35 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. CMS Energy had a return on equity of 12.83% and a net margin of 13.19%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the company posted $0.70 EPS. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, analysts expect CMS Energy to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

CMS Energy Stock Down 0.0 %

Shares of NYSE CMS opened at $61.42 on Wednesday. The business has a 50-day simple moving average of $60.67 and a two-hundred day simple moving average of $59.37. CMS Energy has a 52 week low of $49.87 and a 52 week high of $63.76. The company has a market cap of $18.34 billion, a P/E ratio of 18.73, a P/E/G ratio of 2.44 and a beta of 0.38. The company has a quick ratio of 1.05, a current ratio of 1.35 and a debt-to-equity ratio of 1.82.

CMS Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 2nd will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.32%. CMS Energy’s dividend payout ratio (DPR) is currently 62.80%.

Analysts Set New Price Targets

Several analysts have issued reports on CMS shares. BMO Capital Markets increased their target price on shares of CMS Energy from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 14th. Scotiabank dropped their price objective on CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. Morgan Stanley reduced their target price on CMS Energy from $61.00 to $58.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. UBS Group cut CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a report on Thursday, April 4th. Finally, Barclays boosted their price objective on CMS Energy from $57.00 to $59.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, CMS Energy has an average rating of “Moderate Buy” and an average price target of $64.20.

Insider Buying and Selling at CMS Energy

In other news, SVP Brian F. Rich sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $61.10, for a total value of $122,200.00. Following the completion of the sale, the senior vice president now directly owns 97,682 shares in the company, valued at approximately $5,968,370.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other CMS Energy news, Director Jon E. Barfield sold 2,360 shares of CMS Energy stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $60.79, for a total value of $143,464.40. Following the transaction, the director now directly owns 14,556 shares of the company’s stock, valued at approximately $884,859.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brian F. Rich sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $61.10, for a total value of $122,200.00. Following the sale, the senior vice president now directly owns 97,682 shares of the company’s stock, valued at approximately $5,968,370.20. The disclosure for this sale can be found here. Insiders have sold 6,027 shares of company stock worth $365,651 over the last ninety days. 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.