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

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

American Electric Power Stock Performance

Shares of NASDAQ AEP traded up $1.00 during trading on Tuesday, hitting $87.67. The company had a trading volume of 2,847,231 shares, compared to its average volume of 3,734,848. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.53. American Electric Power has a 12 month low of $69.38 and a 12 month high of $93.56. The firm has a market capitalization of $46.17 billion, a P/E 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 simple moving average of $83.63 and a 200 day simple moving average of $80.59.

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

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.02%. American Electric Power’s dividend payout ratio is presently 82.82%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. LADENBURG THALM/SH SH lowered American Electric Power from a neutral rating to a sell rating and reduced their target price for the company from $75.50 to $73.00 in a research report on Friday, March 8th. StockNews.com lowered shares of American Electric Power from a hold rating to a sell rating in a report on Friday, March 15th. Cfra restated a buy rating and set a $92.00 price target (up previously from $90.00) on shares of American Electric Power in a research report on Tuesday, February 27th. Barclays raised their target price 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. Finally, Scotiabank cut their price objective on American Electric Power from $92.00 to $86.00 and set a sector outperform rating for the company in a research report on Monday, April 22nd. 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 MarketBeat.com, the stock has a consensus rating of Hold and a consensus 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.