Evergy (NYSE:EVRG) Announces Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Evergy (NYSE:EVRG) released its quarterly earnings data on Thursday. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.07), RTT News reports. Evergy had a return on equity of 8.47% and a net margin of 13.28%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the company earned $0.59 earnings per share. Evergy’s revenue for the quarter was up 2.6% compared to the same quarter last year. Evergy updated its FY24 guidance to $3.73-3.93 EPS and its FY 2024 guidance to 3.730-3.930 EPS.

Evergy Trading Down 0.2 %

Shares of NYSE EVRG traded down $0.12 during trading hours on Friday, hitting $55.60. The company’s stock had a trading volume of 480,162 shares, compared to its average volume of 2,497,651. The stock has a market cap of $12.77 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 2.82 and a beta of 0.57. Evergy has a 12 month low of $46.92 and a 12 month high of $63.39. The business has a 50-day simple moving average of $52.07 and a 200-day simple moving average of $51.27. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.29 and a current ratio of 0.51.

Evergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, May 20th will be issued a dividend of $0.6425 per share. This represents a $2.57 annualized dividend and a yield of 4.62%. Evergy’s dividend payout ratio is presently 80.82%.

Analyst Ratings Changes

Several equities analysts have issued reports on EVRG shares. Wells Fargo & Company dropped their price target on Evergy from $60.00 to $57.00 and set an “overweight” rating on the stock in a research note on Friday, March 1st. Guggenheim cut shares of Evergy from a “buy” rating to a “neutral” rating and set a $52.00 price target on the stock. in a report on Monday, January 22nd. LADENBURG THALM/SH SH started coverage on shares of Evergy in a research report on Thursday, April 4th. They set a “neutral” rating and a $51.00 target price on the stock. Bank of America raised Evergy from a “neutral” rating to a “buy” rating and upped their target price for the company from $51.00 to $57.00 in a report on Wednesday, March 13th. Finally, Citigroup began coverage on Evergy in a research report on Tuesday, March 26th. They issued a “buy” rating and a $64.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Evergy presently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

Evergy Company Profile

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in the United States. The company generates electricity through coal, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources. It serves residences, commercial firms, industrials, municipalities, and other electric utilities.