American Electric Power (NASDAQ:AEP) Issues 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 Stock Performance

Shares of AEP stock traded up $0.35 on Friday, reaching $88.60. The stock had a trading volume of 3,332,409 shares, compared to its average volume of 3,771,451. The company has a quick ratio of 0.36, a current ratio of 0.54 and a debt-to-equity ratio of 1.50. The firm’s 50-day moving average is $83.97 and its two-hundred day moving average is $80.77. The firm has a market capitalization of $46.70 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 3.09 and a beta of 0.50. American Electric Power has a 12 month low of $69.38 and a 12 month high of $92.88.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. The company had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.02 billion. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. American Electric Power’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.11 EPS. On average, research analysts expect that American Electric Power will post 5.58 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a $0.88 dividend. The ex-dividend date is Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.97%. American Electric Power’s payout ratio is 65.31%.

Wall Street Analyst Weigh In

AEP has been the topic of a number of research analyst reports. Wells Fargo & Company upped their target price on shares of American Electric Power from $84.00 to $89.00 and gave the company an equal weight rating in a report on Wednesday. StockNews.com raised shares of American Electric Power from a sell rating to a hold rating in a report on Wednesday. Barclays increased their price target on shares of American Electric Power from $84.00 to $88.00 and gave the company an equal weight rating in a report on Thursday. LADENBURG THALM/SH SH cut shares of American Electric Power from a neutral rating to a sell rating and lowered their price target for the company from $75.50 to $73.00 in a report on Friday, March 8th. Finally, BMO Capital Markets increased their price target on shares of American Electric Power from $93.00 to $95.00 and gave the company an outperform rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $88.14.

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.