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

CMS Energy

25/04/2024 19:25

* CMS Energy Corp  CMS.N  reported quarterly adjusted
earnings of
97 cents​​ per share for the quarter ended in March, higher than
the same quarter last year, when the company reported EPS of 70
cents.  The mean expectation of sixteen analysts for the quarter
was for earnings of 94 cents per share. Wall Street expected
results to range from 90 cents to $1.15 per share.
    * Revenue fell 4.7% to $2.18 billion from a year ago;
analysts
expected $2.34 billion. 
    * CMS Energy Corp's reported EPS for the quarter was 96
cents​.
    * The company reported quarterly net income of $285 million.
    * CMS Energy Corp shares had fallen by 0.1% this quarter and
gained 3.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 10.7%
in the last three months.​ 
    * In the last 30 days, seven analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 10 "strong buy" or "buy," 9
"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 $64.00 
This summary was machine generated from LSEG data April 25 at
06:25 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
 Mar. 31 2024      0.94           0.97           Beat
 Dec. 31 2023      1.05           1.05           Met
 Sep. 30 2023      0.61           0.61           Met
 Jun. 30 2023      0.70           0.75           Beat