CMS Energy Corp. Receives “Neutral” Rating from Zacks (CMS)
CMS Energy Corp. (NYSE:CMS)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Friday, StockRatingsNetwork reports. They currently have a $28.00 price objective on the stock. Zacks‘ price target suggests a potential upside of 5.18% from the company’s current price.
Zacks‘ analyst wrote, “We maintain our Neutral recommendation on CMS Energy Cop. CMS, as a core utility portfolio holding, is a pure-play regulated utility with reliable execution and lower risk. Over the long term, the company presents a strong growth story, given its stable electric and gas utility operations, favorable regulatory policies in Michigan, higher rates, strong balance sheet and incremental dividend. The 7.6% decline in total operating expenses during the third quarter reflects the company’s focus on reducing costs. However, the company delivered weak third quarter results with the top and bottom lines missing the Zacks Consensus Estimate. Also, revenue and earnings declined year over year. Lackluster electricity sales growth is hampering the utility’s earnings prospects. “
CMS has been the subject of a number of other recent research reports. Analysts at Barclays downgraded shares of CMS Energy Corp. from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday, January 6th. They now have a $28.00 price target on the stock, down previously from $32.00. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of CMS Energy Corp. in a research note to investors on Friday, October 25th. They now have a $30.00 price target on the stock. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. CMS Energy Corp. presently has a consensus rating of “Buy” and a consensus target price of $29.79.
CMS Energy Corp. (NYSE:CMS) traded down 0.71% during mid-day trading on Friday, hitting $26.43. The stock had a trading volume of 2,085,052 shares. CMS Energy Corp. has a 52 week low of $24.88 and a 52 week high of $29.98. The stock has a 50-day moving average of $26.50 and a 200-day moving average of $26.99. The company has a market cap of $7.030 billion and a price-to-earnings ratio of 17.27.
CMS Energy Corp. (NYSE:CMS) last released its earnings data on Thursday, October 24th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by $0.01. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. Analysts expect that CMS Energy Corp. will post $1.65 EPS for the current fiscal year.
CMS Energy Corporation (NYSE:CMS) is an energy company operating primarily in Michigan.
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