American Electric Power Company, Inc. (AEP) Updates FY18 Earnings Guidance
American Electric Power Company, Inc. (NYSE:AEP) issued an update on its FY18 earnings guidance on Friday morning. The company provided earnings per share guidance of $3.75-3.95 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.88. American Electric Power also updated its FY17 guidance to $3.55-3.68 EPS.
Shares of American Electric Power Company, Inc. (NYSE:AEP) traded up $0.07 during trading on Friday, hitting $74.08. 1,856,247 shares of the stock traded hands, compared to its average volume of 1,988,888. The stock has a market cap of $36.26 billion, a P/E ratio of 21.18 and a beta of 0.29.
American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.06). The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.42 billion. American Electric Power had a net margin of 12.21% and a return on equity of 9.67%. The business’s revenue was down 12.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 EPS. sell-side analysts anticipate that American Electric Power Company, Inc. will post 3.63 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.48 annualized dividend and a yield of 3.35%. This is a boost from American Electric Power’s previous quarterly dividend of $0.59. American Electric Power’s payout ratio is 61.78%.
Several analysts recently weighed in on the stock. BidaskClub cut shares of American Electric Power from a hold rating to a sell rating in a report on Wednesday, July 12th. Zacks Investment Research cut shares of American Electric Power from a hold rating to a sell rating in a report on Wednesday, July 12th. Morgan Stanley reiterated an equal weight rating on shares of American Electric Power in a report on Monday, July 10th. Jefferies Group LLC reiterated a hold rating and issued a $70.00 price target on shares of American Electric Power in a report on Wednesday, July 19th. Finally, Royal Bank Of Canada reiterated a hold rating and issued a $74.00 price target on shares of American Electric Power in a report on Monday. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $73.91.
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American Electric Power Company Profile
American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.
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