Ameren Corp. (NYSE:AEE)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Friday, AnalystRatingsNetwork.com reports. They currently have a $35.00 target price on the stock. Zacks‘ target price would indicate a potential upside of 4.14% from the stock’s previous close.
Zacks‘ analyst wrote, “We have reiterated our Neutral recommendation on Ameren Corp. following its second-quarter 2013 results. The quarterly earnings were negatively affected by the planned nuclear refueling outage, impacts of a regulatory decision in 2012 and a court decision in 2013, accompanied by a milder weather. Again, regulated utility earnings fell considerably in the Missouri segment. The company has also slightly reduced the upper end of its 2013 EPS guidance range for the charge resulting from the Missouri Court of Appeals verdict. However, its plan to exit merchant generation improves the business mix. We expect Ameren to witness modestly rising earnings at its core utilities, primarily in Illinois, over the long term. With its predominantly coal-based generation assets and pending regulatory cases, we see limited upside from current levels and expect Ameren’s shares to trade in line with the broader market indices. “
Shares of Ameren Corp. (NYSE:AEE) traded up 0.39% on Friday, hitting $33.74. The stock had a trading volume of 632,769 shares. Ameren Corp. has a 52-week low of $28.43 and a 52-week high of $36.74. The stock’s 50-day moving average is $35.14 and its 200-day moving average is $34.69. The company’s market cap is $8.186 billion.
Ameren Corp. (NYSE:AEE) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.44 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.49 by $0.05. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company posted $0.73 earnings per share. Ameren Corp.’s revenue was up .1% compared to the same quarter last year. Analysts expect that Ameren Corp. will post $2.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 30th. Shareholders of record on Wednesday, September 11th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend is Monday, September 9th.
Ameren Corporation (NYSE:AEE) utility holding company.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.