Alliant Energy (NASDAQ:LNT) Releases FY 2024 Earnings Guidance

by · The Markets Daily

Alliant Energy (NASDAQ:LNT – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 2.990-3.060 for the period, compared to the consensus earnings per share estimate of 3.060. The company issued revenue guidance of -. Alliant Energy also updated its FY 2025 guidance to 3.150-3.250 EPS.

Alliant Energy Stock Down 3.8 %

NASDAQ:LNT traded down $2.26 during mid-day trading on Friday, reaching $57.74. The company’s stock had a trading volume of 3,222,744 shares, compared to its average volume of 1,392,841. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.31. Alliant Energy has a 1 year low of $46.80 and a 1 year high of $62.49. The stock has a fifty day moving average of $59.89 and a 200-day moving average of $55.10. The firm has a market capitalization of $14.81 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 2.88 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT – Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.05. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Alliant Energy had a net margin of 16.66% and a return on equity of 10.62%. The company’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.05 EPS. Equities research analysts forecast that Alliant Energy will post 3.05 earnings per share for the current year.

Alliant Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a $0.48 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.92 annualized dividend and a yield of 3.33%. Alliant Energy’s dividend payout ratio (DPR) is presently 74.42%.

Wall Street Analyst Weigh In

LNT has been the topic of a number of analyst reports. Bank of America lifted their price objective on shares of Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. LADENBURG THALM/SH SH raised Alliant Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $50.00 to $62.50 in a research report on Tuesday, August 13th. Jefferies Financial Group assumed coverage on Alliant Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $67.00 price objective for the company. Mizuho upped their target price on Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Finally, Scotiabank raised their price target on Alliant Energy from $58.00 to $64.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alliant Energy presently has a consensus rating of “Hold” and an average price target of $63.28.

Get Our Latest Analysis on Alliant Energy

About Alliant Energy

(Get Free Report)

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the United States. It operates in three segments: Utility Electric Operations, Utility Gas Operations, and Utility Other. The company, through its subsidiary, Interstate Power and Light Company (IPL), primarily generates and distributes electricity, and distributes and transports natural gas to retail customers in Iowa; sells electricity to wholesale customers in Minnesota, Illinois, and Iowa; and generates and distributes steam in Cedar Rapids, Iowa.

See Also