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

American Electric Power (NASDAQ:AEP) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 5.530-5.730 for the period, compared to the consensus earnings per share 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 Stock Up 0.9 %

AEP traded up $0.74 during trading on Tuesday, hitting $87.41. The stock had a trading volume of 2,520,376 shares, compared to its average volume of 3,730,855. The company has a market capitalization of $46.03 billion, a PE ratio of 20.39, a PEG ratio of 3.01 and a beta of 0.51. American Electric Power has a twelve month low of $69.38 and a twelve month high of $93.56. 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 stock has a 50 day simple moving average of $83.63 and a two-hundred day simple moving average of $80.59.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.09). The firm 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% on a year-over-year basis. During the same quarter last year, the business earned $1.11 earnings per share. On average, research analysts predict that American Electric Power will post 5.54 earnings per share for the current year.

American Electric Power Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Guggenheim downgraded 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. Mizuho downgraded shares of American Electric Power from a buy rating to a neutral rating and set a $83.00 price objective for the company. in a research note on Thursday, January 11th. Cfra reiterated a buy rating and set a $92.00 price objective (up from $90.00) on shares of American Electric Power in a research note on Tuesday, February 27th. Barclays lifted their price objective on shares of American Electric Power from $83.00 to $84.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. Finally, StockNews.com downgraded shares of American Electric Power from a hold rating to a sell rating in a research note on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $86.08.

American Electric Power Company Profile

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.