Evergy (NYSE:EVRG) Issues FY 2024 Earnings Guidance

Evergy (NYSE:EVRG - Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 3.730-3.930 for the period, compared to the consensus EPS estimate of 3.830. The company issued revenue guidance of -. Evergy also updated its FY24 guidance to $3.73-3.93 EPS.

Evergy Price Performance

Shares of NYSE EVRG traded up $1.15 during mid-day trading on Thursday, hitting $55.72. 4,723,723 shares of the stock were exchanged, compared to its average volume of 2,521,101. The stock's fifty day simple moving average is $51.95 and its two-hundred day simple moving average is $51.24. 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 has a twelve month low of $46.92 and a twelve month high of $63.39. The company has a market cap of $12.80 billion, a P/E ratio of 17.52, a PEG ratio of 2.82 and a beta of 0.57.

Evergy (NYSE:EVRG - Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.37). The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.35 billion. Evergy had a net margin of 13.28% and a return on equity of 8.47%. The business's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. As a group, analysts forecast that Evergy will post 3.84 EPS for the current fiscal year.

Evergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, May 20th will be given a $0.6425 dividend. This represents a $2.57 annualized dividend and a yield of 4.61%. Evergy's dividend payout ratio (DPR) is presently 80.82%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company decreased their price objective on Evergy from $60.00 to $57.00 and set an overweight rating for the company in a research note on Friday, March 1st. LADENBURG THALM/SH SH initiated coverage on shares of Evergy in a report on Thursday, April 4th. They set a neutral rating and a $51.00 price objective for the company. Citigroup initiated coverage on shares of Evergy in a research report on Tuesday, March 26th. They set a buy rating and a $64.00 price target on the stock. Bank of America upgraded shares of Evergy from a neutral rating to a buy rating and upped their price objective for the company from $51.00 to $57.00 in a research report on Wednesday, March 13th. Finally, Guggenheim lowered Evergy from a buy rating to a neutral rating and set a $52.00 target price on the stock. in a report on Monday, January 22nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price 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.