CMS Energy Corporation (CMS) Expected to Announce Earnings of $0.68 Per Share
Wall Street analysts expect that CMS Energy Corporation (NYSE:CMS) will report $0.68 earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for CMS Energy Corporation’s earnings. The highest EPS estimate is $0.76 and the lowest is $0.63. CMS Energy Corporation reported earnings of $0.70 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 2.9%. The business is scheduled to report its next quarterly earnings results on Thursday, October 26th.
On average, analysts expect that CMS Energy Corporation will report full-year earnings of $2.17 per share for the current year, with EPS estimates ranging from $2.15 to $2.17. For the next fiscal year, analysts anticipate that the company will post earnings of $2.33 per share, with EPS estimates ranging from $2.31 to $2.35. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for CMS Energy Corporation.
CMS Energy Corporation (NYSE:CMS) last announced its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.08). The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.36 billion. CMS Energy Corporation had a net margin of 8.52% and a return on equity of 12.98%. During the same period in the previous year, the company earned $0.45 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year.
Several analysts have weighed in on the company. Royal Bank Of Canada reiterated a “hold” rating and set a $46.00 price target on shares of CMS Energy Corporation in a research note on Monday, September 11th. BMO Capital Markets reiterated a “buy” rating and set a $48.00 price target on shares of CMS Energy Corporation in a research note on Monday, July 31st. BidaskClub upgraded CMS Energy Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 19th. Morgan Stanley set a $49.00 price target on CMS Energy Corporation and gave the company a “hold” rating in a research note on Thursday, August 10th. Finally, Guggenheim assumed coverage on CMS Energy Corporation in a research note on Tuesday, September 5th. They set a “neutral” rating and a $48.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $48.20.
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CMS Energy Corporation (NYSE CMS) opened at 47.87 on Friday. The company has a market cap of $13.48 billion, a P/E ratio of 24.18 and a beta of 0.17. The firm has a 50-day moving average price of $47.86 and a 200-day moving average price of $46.33. CMS Energy Corporation has a 12-month low of $38.78 and a 12-month high of $49.11.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Friday, August 4th were issued a $0.3325 dividend. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $1.33 annualized dividend and a dividend yield of 2.78%. CMS Energy Corporation’s dividend payout ratio (DPR) is presently 66.83%.
In other news, SVP Brian F. Rich sold 3,500 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $48.26, for a total value of $168,910.00. Following the completion of the transaction, the senior vice president now owns 44,835 shares of the company’s stock, valued at approximately $2,163,737.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jon E. Barfield sold 6,336 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $46.81, for a total value of $296,588.16. The disclosure for this sale can be found here. In the last three months, insiders sold 11,836 shares of company stock valued at $561,118. Insiders own 0.65% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Airain ltd raised its holdings in CMS Energy Corporation by 4.2% in the 2nd quarter. Airain ltd now owns 126,524 shares of the utilities provider’s stock worth $5,852,000 after purchasing an additional 5,088 shares during the period. Premier Fund Managers Ltd raised its holdings in CMS Energy Corporation by 14.1% in the 1st quarter. Premier Fund Managers Ltd now owns 36,500 shares of the utilities provider’s stock worth $1,631,000 after purchasing an additional 4,500 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in CMS Energy Corporation in the 2nd quarter worth about $1,603,000. Lazard Asset Management LLC raised its holdings in CMS Energy Corporation by 5.7% in the 1st quarter. Lazard Asset Management LLC now owns 366,493 shares of the utilities provider’s stock worth $16,396,000 after purchasing an additional 19,783 shares during the period. Finally, Tobam raised its holdings in CMS Energy Corporation by 75.7% in the 2nd quarter. Tobam now owns 210,081 shares of the utilities provider’s stock worth $9,716,000 after purchasing an additional 90,494 shares during the period. 87.45% of the stock is owned by institutional investors.
CMS Energy Corporation Company Profile
CMS Energy Corporation is an energy company operating primarily in Michigan. The Company operates through three segments: electric utility, which consists of regulated activities associated with the generation, transmission and distribution of electricity in Michigan; gas utility, which consists of regulated activities associated with the transportation, storage and distribution of natural gas in Michigan, and enterprises, which consists of various subsidiaries engaging primarily in domestic independent power production.
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