CMS Energy Corp reports results for the quarter ended in June - Earnings Summary

CMS Energy

25/07/2024 14:31

* CMS Energy Corp  CMS.N  reported quarterly adjusted
earnings of
66 cents​​ per share for the quarter ended in June, lower than
the same quarter last year, when the company reported EPS of 75
cents.  The mean expectation of fifteen analysts for the quarter
was for earnings of 63 cents per share. Wall Street expected
results to range from 60 cents to 64 cents per share.
    * Revenue rose 3.3% to $1.61 billion from a year ago;
analysts
expected $1.75 billion. 
    * CMS Energy Corp's reported EPS for the quarter was 65
cents​.
    * The company reported quarterly net income of $195 million.
    * CMS Energy Corp shares had risen by 4.9% this quarter and
gained 7.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 8.6%
in the last three months.​ 
    * In the last 30 days, six analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 11 "strong buy" or "buy," 8
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the multiline
utilities
peer group is also "buy"

Wall Street's median 12-month price target for CMS Energy Corp
is $65.00 
This summary was machine generated from LSEG data July 25 at
01:31 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.63           0.66           Beat
 Mar. 31 2024      0.94           0.97           Beat
 Dec. 31 2023      1.05           1.05           Met
 Sep. 30 2023      0.61           0.61           Met