CMS Energy (NYSE:CMS) Updates FY24 Earnings Guidance

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. BMO Capital Markets lifted their price objective on CMS Energy from $63.00 to $64.00 and gave the stock an outperform rating in a report on Wednesday, April 17th. Guggenheim upgraded CMS Energy from a neutral rating to a buy rating and lifted their price objective for the company from $60.00 to $64.00 in a research report on Friday, February 2nd. UBS Group downgraded CMS Energy from a buy rating to a neutral rating and set a $65.00 price objective for the company. in a research report on Thursday, April 4th. Barclays lowered their target price on CMS Energy from $58.00 to $57.00 and set an equal weight rating for the company in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. lifted their target price on CMS Energy from $65.00 to $66.00 and gave the company an overweight rating in a research note on Wednesday, March 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $63.00.

CMS Energy Stock Performance

CMS opened at $60.28 on Thursday. CMS Energy has a 52-week low of $49.87 and a 52-week high of $63.76. The firm 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. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 0.98. The business’s 50-day simple moving average is $58.65 and its 200 day simple moving average is $57.36.

CMS Energy (NYSE:CMS) last released its 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). CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the company posted $0.70 EPS. The business’s revenue was down 4.7% on a year-over-year basis. As a group, sell-side analysts expect that CMS Energy will post 3.33 earnings per share for the current fiscal year.

CMS Energy Dividend Announcement

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

Insider Buying and Selling at CMS Energy

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