Evergy (NYSE:EVRG) Releases FY24 Earnings Guidance

Evergy (NYSE:EVRG) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.73-3.93 for the period, compared to the consensus earnings per share estimate of $3.84. Evergy also updated its FY 2024 guidance to 3.730-3.930 EPS.

Evergy Price Performance

Shares of NYSE:EVRG opened at $61.05 on Thursday. Evergy has a 12 month low of $47.97 and a 12 month high of $62.58. The firm has a market capitalization of $14.04 billion, a P/E ratio of 19.02, a P/E/G ratio of 2.66 and a beta of 0.62. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.59 and a quick ratio of 0.35. The company’s fifty day moving average price is $60.66 and its 200 day moving average price is $57.00.

Evergy (NYSE:EVRG) last posted its earnings results on Friday, August 9th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Evergy had a return on equity of 8.50% and a net margin of 13.12%. During the same quarter in the previous year, the firm earned $0.81 earnings per share. As a group, sell-side analysts predict that Evergy will post 3.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EVRG has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. UBS Group raised shares of Evergy to a “hold” rating in a research report on Wednesday, September 18th. Jefferies Financial Group initiated coverage on shares of Evergy in a report on Thursday, September 19th. They issued a “buy” rating and a $70.00 target price for the company. Mizuho assumed coverage on Evergy in a report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 price target on the stock. Finally, Barclays reduced their price objective on Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Evergy has an average rating of “Moderate Buy” and a consensus target price of $61.88.

Insider Buying and Selling

In other Evergy news, SVP Charles A. Caisley sold 9,236 shares of Evergy stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total value of $550,742.68. Following the sale, the senior vice president now owns 33,425 shares of the company’s stock, valued at approximately $1,993,132.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Evergy news, SVP Charles A. Caisley sold 9,236 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total value of $550,742.68. Following the completion of the sale, the senior vice president now owns 33,425 shares of the company’s stock, valued at approximately $1,993,132.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann D. Murtlow sold 3,301 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $58.85, for a total transaction of $194,263.85. Following the sale, the director now owns 2,847 shares in the company, valued at $167,545.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,884 shares of company stock valued at $941,810 over the last ninety days. Corporate insiders own 3.26% of the company’s stock.

About Evergy

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in the United States. The company generates electricity through coal, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources. It serves residences, commercial firms, industrials, municipalities, and other electric utilities.