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

American Electric Power (NASDAQ:AEP) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 5.530-5.730 for the period, compared to the consensus EPS 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 Trading Up 1.7 %

Shares of NASDAQ:AEP opened at $86.67 on Tuesday. The business’s 50 day simple moving average is $83.63 and its 200 day simple moving average is $80.59. American Electric Power has a 1 year low of $69.38 and a 1 year high of $93.56. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.53 and a quick ratio of 0.36. The company has a market capitalization of $45.64 billion, a P/E ratio of 20.39, a P/E/G ratio of 3.01 and a beta of 0.51.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.09). The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $5.02 billion. American Electric Power had a return on equity of 11.04% and a net margin of 11.64%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.11 earnings per share. On average, research analysts anticipate that American Electric Power will post 5.54 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The firm 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 dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Thursday, May 9th. American Electric Power’s payout ratio is 82.82%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AEP shares. Barclays raised their price objective on American Electric Power from $83.00 to $84.00 and gave the company an equal weight rating in a report on Monday, April 15th. Scotiabank reduced their price target on American Electric Power from $92.00 to $86.00 and set a sector outperform rating on the stock in a report on Monday, April 22nd. Guggenheim lowered 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 report on Monday, January 22nd. BMO Capital Markets boosted their target price on shares of American Electric Power from $87.00 to $88.00 and gave the stock an outperform rating in a report on Tuesday, February 27th. Finally, Cfra reaffirmed a buy rating and set a $92.00 price target (up previously from $90.00) on shares of American Electric Power in a research note on Tuesday, February 27th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, American Electric Power currently 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.