Based in St. Louis, Missouri, Ameren Corporation (AEE) is a prominent utility company providing electric and natural gas services to millions of customers in Missouri and Illinois. With a market cap of $20.20 billion, Ameren is recognized for its commitment to sustainability, operational excellence, and reliable energy solutions. Ameren is scheduled to announce its fiscal Q2 earnings results on Friday, Aug. 2.
Ahead of the event, analysts expect AEE to report a profit of $0.96 per share, up 6.7% from $0.90 per share in the year-ago quarter. In the last four quarters, the company surpassed Wall Street’s bottom-line estimates in two and missed on two occasions.
Ameren's adjusted earnings of $0.98 per share for the last quarter missed the consensus estimate by 10.1%. The company’s Q1 earnings miss was mainly due to higher expenses and lower returns across several segments.
For fiscal 2024, analysts expect AEE to report EPS of $4.59, up 4.8% from $4.38 in fiscal 2023.
AEE stock is up 4.7% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 16.7% gains and the Utilities Select Sector SPDR Fund’s (XLU) 11.7% returns over the same time frame.
AEE reported Q1 earnings on May 2. Revenue for the period was $1.82 billion, but it fell short of analysts' forecasts of $2.20 billion. AEE shares gained 1% on the day the company released its earnings report.
The consensus opinion on AEE stock is optimistic, with an overall “Moderate Buy” rating. Out of 13 analysts covering the stock, five advise a “Strong Buy” rating, seven suggest a “Moderate Buy” rating, and one suggest a “Strong Sell.”
This consensus rating is more bullish than three months ago when the stock had an overall “Hold” rating. AEE's average analyst price target is $77.90, indicating a potential upside of 2.9% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
