FY2024 Earnings Forecast for Evergy Issued By Zacks Research

Evergy, Inc. (NASDAQ:EVRG) – Investment analysts at Zacks Research reduced their FY2024 earnings estimates for Evergy in a note issued to investors on Monday, January 6th. Zacks Research analyst R. Department now forecasts that the company will post earnings of $3.84 per share for the year, down from their prior forecast of $3.85. The consensus estimate for Evergy’s current full-year earnings is $3.84 per share. Zacks Research also issued estimates for Evergy’s Q4 2024 earnings at $0.38 EPS, Q3 2025 earnings at $2.00 EPS, Q4 2026 earnings at $0.52 EPS and FY2026 earnings at $4.26 EPS.

A number of other equities research analysts have also commented on the stock. Mizuho assumed coverage on shares of Evergy in a report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 price objective on the stock. UBS Group raised shares of Evergy to a “hold” rating in a research note on Wednesday, September 18th. LADENBURG THALM/SH SH upgraded Evergy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $59.00 to $68.50 in a research report on Thursday, January 2nd. Wells Fargo & Company lifted their price objective on Evergy from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Barclays dropped their price target on shares of Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.06.

Evergy Stock Performance

Shares of NASDAQ:EVRG opened at $60.54 on Wednesday. The business has a fifty day moving average of $62.35 and a 200-day moving average of $59.79. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. Evergy has a twelve month low of $48.04 and a twelve month high of $65.47. The firm has a market cap of $13.92 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64.

Evergy (NASDAQ:EVRG) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.07. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm posted $1.88 EPS.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EVRG. Pensionfund Sabic raised its position in Evergy by 26.3% during the 4th quarter. Pensionfund Sabic now owns 24,000 shares of the company’s stock worth $1,477,000 after purchasing an additional 5,000 shares during the last quarter. Everence Capital Management Inc. bought a new position in Evergy during the fourth quarter worth $229,000. GAMMA Investing LLC lifted its holdings in Evergy by 14.4% in the fourth quarter. GAMMA Investing LLC now owns 11,794 shares of the company’s stock valued at $726,000 after buying an additional 1,481 shares during the period. JPMorgan Chase & Co. boosted its position in Evergy by 24.6% during the third quarter. JPMorgan Chase & Co. now owns 1,675,453 shares of the company’s stock valued at $103,895,000 after acquiring an additional 330,464 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Evergy by 7.2% during the 3rd quarter. Principal Financial Group Inc. now owns 278,197 shares of the company’s stock worth $17,251,000 after acquiring an additional 18,595 shares during the period. Institutional investors own 87.24% of the company’s stock.

Insider Buying and Selling

In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total value of $3,029,513.13. Following the completion of the transaction, the executive vice president now owns 1 shares of the company’s stock, valued at $62.93. This represents a 100.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by company insiders.

Evergy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Thursday, November 21st were given a $0.6675 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.41%. This is a boost from Evergy’s previous quarterly dividend of $0.64. Evergy’s dividend payout ratio (DPR) is presently 72.16%.

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.