Zacks Reiterates “Neutral” Rating for Ameren Corp (AEE)
Ameren Corp (NYSE:AEE)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Wednesday. They currently have a $41.00 price target on the stock. Zacks‘s price objective would suggest a potential upside of 5.24% from the company’s current price.
Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on Ameren Corporation following the second quarter of 2014 results. In the reported quarter, the company’s earnings and revenues surpassed the Zacks Consensus Estimate, thanks to higher electricity and natural gas revenues. In addition, the decrease in operating and interest expenses also led to robust quarterly results. Both top as well as bottom line also increased year over year. The company’s favorable financial position allows it to pursue systematic capital investments in infrastructure development projects and installation of smart meters, thereby improving service reliability. Receiving rate-hike approvals from the commissions will encourage the company to invest more into growth ventures. However, stringent environmental regulations and several operational risks are disconcerting.”
Shares of Ameren Corp (NYSE:AEE) traded up 0.41% during mid-day trading on Wednesday, hitting $39.12. 456,681 shares of the company’s stock traded hands. Ameren Corp has a 52 week low of $32.61 and a 52 week high of $42.24. The stock’s 50-day moving average is $39.18 and its 200-day moving average is $39.7. The company has a market cap of $9.492 billion and a price-to-earnings ratio of 16.27.
Ameren Corp (NYSE:AEE) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts predict that Ameren Corp will post $2.39 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.11%. The ex-dividend date is Monday, September 8th.
Ameren Corporation (NYSE:AEE) is a utility holding company.
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