CMS Energy Corporation (CMS), headquartered in Jackson, Michigan, operates as an energy company that provides electricity and natural gas to its customers. Valued at $20.7 billion by market cap, the company also invests in and operates non-utility power generation plants in the U.S. and abroad. The leading energy company is expected to announce its fiscal third-quarter earnings for 2024 before the market opens on Thursday, Oct. 31.
Ahead of the event, analysts expect CMS to report a profit of $0.78 per share on a diluted basis, up 27.9% from $0.61 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing the forecast on another occasion.
For the full year, analysts expect CMS to report EPS of $3.33, up 7.1% from $3.11 in fiscal 2023. Its EPS is expected to rise 8.4% year over year to $3.61 in fiscal 2025.
CMS stock has underperformed the S&P 500’s ($SPX) 32.9% gains over the past 52 weeks, with shares up 28% during this period. Similarly, it underperformed the Utilities Select Sector SPDR Fund’s (XLU) 33.1% gains over the same time frame.
On Jul. 25, CMS shares closed up more than 1% after reporting its Q2 results. Its adjusted EPS of $0.66 beat Wall Street expectations of $0.63. The company’s revenue was $1.6 billion, falling short of Wall Street forecasts of $1.7 billion. CMS expects full-year adjusted EPS to be between $3.29 and $3.35.
Analysts’ consensus opinion on CMS stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 16 analysts covering the stock, 10 advise a “Strong Buy” rating, and six give a “Hold.” CMS’ average analyst price target is $71.06, indicating a potential upside of 2.5% from the current levels.
On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
