American Electric Power (NASDAQ:AEP) Issues FY24 Earnings Guidance

American Electric Power (NASDAQ:AEP - Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $5.53 to $5.73 for the period, compared to the consensus EPS estimate of $5.60. American Electric Power also updated its FY 2024 guidance to 5.530-5.730 EPS.

American Electric Power Trading Down 0.7 %

Shares of American Electric Power stock traded down $0.64 during midday trading on Tuesday, reaching $86.03. 5,738,277 shares of the company's stock traded hands, compared to its average volume of 3,771,013. 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 company has a market cap of $45.30 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 3.01 and a beta of 0.51. The stock has a 50 day moving average of $83.63 and a 200-day moving average of $80.59. American Electric Power has a 12 month low of $69.38 and a 12 month high of $93.56.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its earnings results on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.36 by ($0.09). The business had revenue of $5 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.11 EPS. As a group, equities analysts expect that American Electric Power will post 5.54 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.09%. American Electric Power's dividend payout ratio is currently 82.82%.

Analyst Ratings Changes

AEP has been the topic of a number of recent research reports. UBS Group cut American Electric Power from a neutral rating to a sell rating and cut their target price for the stock from $86.00 to $83.00 in a research note on Monday, March 11th. Guggenheim cut American Electric Power from a buy rating to a neutral rating and set a $81.00 price objective on the stock. in a research report on Monday, January 22nd. BMO Capital Markets increased their price objective on American Electric Power from $87.00 to $88.00 and gave the company an outperform rating in a research report on Tuesday, February 27th. Cfra reaffirmed a buy rating and set a $92.00 price objective (up from $90.00) on shares of American Electric Power in a research report on Tuesday, February 27th. Finally, Barclays increased their price objective on American Electric Power from $83.00 to $84.00 and gave the company an equal weight rating in a research report on Monday, April 15th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average 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.