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American Electric Power Company Up 3.55% To $83.64 After Earnings Miss

Tuesday, February 27, 2024 03:43 PM | InvestorsObserver Analysts

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American Electric Power Company Up 3.55% To $83.64 After Earnings Miss

American Electric Power Company (AEP) said after close Monday that it earned $1.23 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $4.6 billion, missing estimates by $520 million.

In the same quarter a year ago, the company earned $1.05 per share on revenue of $4.9 billion.

The stock is up 3.55% to $83.64 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned American Electric Power Company a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 36. Meanwhile, the average Wall Street analyst rated the stock a Buy.

American Electric Power is one of the largest regulated utilities in the United States, providing electricity generation, transmission, and distribution to more than 5 million retail customers in 11 states. About 43% of AEP's of capacity is coal, with the remainder from a mix of natural gas (27%), renewable energy and hydro (19%), nuclear (7%), and demand response (4%). Vertically integrated utilities, transmission and distribution, and generation and marketing support earnings.

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