Ameren (NYSE:AEE) Issues FY24 Earnings Guidance

Ameren (NYSE:AEE) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $4.55-4.69 for the period, compared to the consensus earnings per share estimate of $4.62. Ameren also updated its FY 2024 guidance to 4.550-4.690 EPS.

Ameren Stock Performance

AEE traded up $0.12 on Wednesday, reaching $87.78. The stock had a trading volume of 1,799,691 shares, compared to its average volume of 1,581,836. The business’s 50-day moving average price is $86.00 and its two-hundred day moving average price is $78.79. The company has a current ratio of 0.67, a quick ratio of 0.45 and a debt-to-equity ratio of 1.40. Ameren has a 12-month low of $67.03 and a 12-month high of $89.54. The company has a market cap of $23.41 billion, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 2.83 and a beta of 0.45.

Ameren Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 11th will be issued a $0.67 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $2.68 dividend on an annualized basis and a yield of 3.05%. Ameren’s payout ratio is 60.63%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AEE shares. Mizuho upgraded Ameren from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $82.00 to $89.00 in a research report on Monday, September 16th. Wells Fargo & Company boosted their price target on shares of Ameren from $91.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Argus raised shares of Ameren to a “strong-buy” rating in a report on Thursday, September 19th. Jefferies Financial Group began coverage on shares of Ameren in a research note on Thursday, September 19th. They set a “buy” rating and a $97.00 target price for the company. Finally, Bank of America raised their price target on shares of Ameren from $86.00 to $87.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.80.

Insider Activity

In related news, EVP Chonda J. Nwamu sold 1,610 shares of Ameren stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $81.94, for a total transaction of $131,923.40. Following the transaction, the executive vice president now owns 44,432 shares in the company, valued at approximately $3,640,758.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.42% of the company’s stock.

Ameren Company Profile

Ameren Corporation, together with its subsidiaries, operates as a public utility holding company in the United States. The company operates through four segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission. It engages in the rate-regulated electric generation, transmission, and distribution activities; and rate-regulated natural gas distribution business.