Evergy (NYSE:EVRG) Releases FY 2024 Earnings Guidance

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

Evergy Stock Performance

Shares of NYSE:EVRG traded up $0.13 during midday trading on Thursday, hitting $54.70. The company had a trading volume of 356,767 shares, compared to its average volume of 2,470,585. The company has a market cap of $12.57 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 2.82 and a beta of 0.57. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.51 and a quick ratio of 0.29. The company has a fifty day moving average of $51.95 and a two-hundred day moving average of $51.24. Evergy has a 12-month low of $46.92 and a 12-month high of $63.39.

Evergy (NYSE:EVRG) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.37). The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.35 billion. Evergy had a return on equity of 8.47% and a net margin of 13.28%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $0.59 EPS. On average, equities research analysts expect that Evergy will post 3.84 EPS for the current fiscal year.

Evergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, May 20th will be paid a $0.6425 dividend. This represents a $2.57 dividend on an annualized basis and a dividend yield of 4.70%. Evergy’s dividend payout ratio (DPR) is presently 80.82%.

Wall Street Analyst Weigh In

EVRG has been the subject of a number of analyst reports. LADENBURG THALM/SH SH began coverage on Evergy in a research note on Thursday, April 4th. They issued a neutral rating and a $51.00 price target for the company. Bank of America raised Evergy from a neutral rating to a buy rating and boosted their price target for the stock from $51.00 to $57.00 in a report on Wednesday, March 13th. Guggenheim cut shares of Evergy from a buy rating to a neutral rating and set a $52.00 target price for the company. in a research note on Monday, January 22nd. Barclays increased their price objective on shares of Evergy from $54.00 to $55.00 and gave the company an overweight rating in a report on Thursday, March 14th. Finally, Citigroup started coverage on Evergy in a research note 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. Based on data from MarketBeat.com, Evergy currently 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.