CenterPoint Energy (NYSE:CNP – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.610-1.630 for the period, compared to the consensus estimate of 1.620. The company issued revenue guidance of -. CenterPoint Energy also updated its FY24 guidance to $1.62 EPS.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. Morgan Stanley cut shares of CenterPoint Energy from an overweight rating to an equal weight rating and decreased their price target for the stock from $30.00 to $29.00 in a research report on Wednesday, July 17th. KeyCorp cut their price target on CenterPoint Energy from $33.00 to $31.00 and set an overweight rating on the stock in a research note on Monday, July 22nd. Scotiabank cut their price target on CenterPoint Energy from $31.00 to $29.00 and set a sector perform rating on the stock in a research note on Monday, April 22nd. BMO Capital Markets cut their price target on CenterPoint Energy from $32.00 to $31.00 and set an outperform rating on the stock in a research note on Wednesday. Finally, StockNews.com upgraded CenterPoint Energy from a sell rating to a hold rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $30.50.
Check Out Our Latest Analysis on CenterPoint Energy
CenterPoint Energy Stock Performance
CenterPoint Energy (NYSE:CNP – Get Free Report) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. CenterPoint Energy had a net margin of 12.28% and a return on equity of 10.81%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the company posted $0.28 earnings per share. As a group, sell-side analysts forecast that CenterPoint Energy will post 1.62 earnings per share for the current year.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.
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