Evergy (NYSE:EVRG) Expected to Post Earnings of $1.57 Per Share

Equities analysts forecast that Evergy (NYSE:EVRG) will report earnings of $1.57 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Evergy’s earnings, with the lowest EPS estimate coming in at $1.47 and the highest estimate coming in at $1.63. Evergy posted earnings per share of $1.32 during the same quarter last year, which would suggest a positive year-over-year growth rate of 18.9%. The company is expected to issue its next earnings results on Wednesday, November 6th.

On average, analysts expect that Evergy will report full year earnings of $2.88 per share for the current fiscal year, with EPS estimates ranging from $2.84 to $2.95. For the next year, analysts anticipate that the business will report earnings of $3.16 per share, with EPS estimates ranging from $3.03 to $3.20. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Evergy.

Evergy (NYSE:EVRG) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.02). Evergy had a net margin of 11.74% and a return on equity of 6.44%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the firm posted $0.67 EPS.

A number of research analysts have commented on EVRG shares. UBS Group reduced their price objective on Evergy from $68.00 to $67.00 and set a “neutral” rating on the stock in a research note on Friday. Wells Fargo & Co set a $69.00 price objective on Evergy and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Bank of America cut Evergy from a “buy” rating to a “neutral” rating and set a $67.00 price objective on the stock. in a research note on Thursday, October 10th. Guggenheim boosted their price objective on Evergy from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Finally, ValuEngine cut Evergy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $66.29.

In related news, SVP Heather A. Humphrey sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $66.20, for a total value of $66,200.00. Also, COO Kevin E. Bryant sold 4,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $65.18, for a total value of $260,720.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,000 shares of company stock worth $706,300. 0.38% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc purchased a new position in shares of Evergy in the third quarter worth $152,000. Envestnet Asset Management Inc. grew its holdings in Evergy by 8.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 35,087 shares of the company’s stock valued at $2,335,000 after buying an additional 2,869 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Evergy by 46.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 101,967 shares of the company’s stock valued at $6,786,000 after buying an additional 32,470 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new stake in Evergy during the 3rd quarter valued at approximately $205,000. Finally, Meeder Asset Management Inc. grew its holdings in Evergy by 10,579.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 12,922 shares of the company’s stock valued at $860,000 after buying an additional 12,801 shares in the last quarter. Institutional investors and hedge funds own 84.40% of the company’s stock.

EVRG stock traded up $0.15 during trading on Thursday, reaching $63.31. 1,976,138 shares of the stock traded hands, compared to its average volume of 2,081,142. The business’s 50 day moving average price is $65.04 and its 200-day moving average price is $61.22. Evergy has a 52-week low of $54.57 and a 52-week high of $67.81. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.44 and a quick ratio of 0.30. The firm has a market capitalization of $14.87 billion, a PE ratio of 23.71, a P/E/G ratio of 3.33 and a beta of 0.16.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Thursday, August 29th. Evergy’s dividend payout ratio is presently 71.16%.

Evergy Company Profile

Westar Energy, Inc engages in the generation, transmission and distribution of electricity in Kansas. It provides electricity to residential, commercial, and industrial customers in the cities of Topeka, Lawrence, Manhattan, Salina, and Hutchinson. The company was founded in 1924 and is headquartered in Topeka, KS.

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Earnings History and Estimates for Evergy (NYSE:EVRG)

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