Evergy Stock: Analyst Estimates & Ratings
Kansas City, Missouri-based Evergy, Inc. (EVRG) generates, transmits, distributes, and sells electricity in the U.S. With a market cap of $14.6 billion, Evergy serves residences, commercial firms, industries, municipalities, and other electric utilities.
The utilities major has lagged behind the broader market over the past year. EVRG stock has gained 21.4% on a YTD basis and 31.9% over the past year trailing behind the S&P 500 Index’s ($SPX) rally of 25.5% in 2024 and 35.7% over the past 52-week period.
Narrowing the focus, Evergy has also lagged behind the Utilities Select Sector SPDR Fund’s (XLU) 23.7% gains on a YTD basis but marginally outpaced XLU’s 31.5% returns over the past year.
Shares of Evergy saw a marginal uptick and maintained a positive momentum for the next three trading sessions after the release of its better-than-expect Q3 earnings on Nov. 7. The company observed a robust 8.5% year-over-year growth in operating revenues, reaching $1.8 billion, exceeding Wall Street’s topline expectations. Additionally, Evergy reported an impressive 7.7% growth in adjusted earnings, reaching $465.5 million, driven by new retail rates, FERC-regulated investments, and growth in weather-normalized demand. Moreover, EVRG’s adjusted EPS of $2.02 surpassed analysts’ estimates by a notable 3.6%.
Observing the robust performance during the quarter, Evergy reaffirmed its full-year adjusted EPS guidance of $3.73 to $3.93, and gave an adjusted EPS guidance of $3.92 to $4.12 for fiscal 2025, bolstering investor confidence.
For the current fiscal year, ending in December, analysts expect Evergy to report an 8.5% year-over-year growth in adjusted EPS to $3.84. The company’s earnings surprise history is disappointing. EVRG missed the consensus estimate in three of the last four quarters while beating the forecast on another occasion.
EVRG stock has a consensus “Moderate Buy” rating overall. Among the 13 analysts covering the stock, seven recommend “Strong Buy,” and six suggest a “Hold” rating.
This configuration is more bullish than a month ago, when six analysts recommended a “Strong Buy” rating.
On Oct. 29, Mizuho analyst Anthony Crowdell initiated coverage on EVRG with an “Outperform” rating with a price target of $67.
While the mean price target of $64 represents a 1% premium to current price levels, the street-high target of $71 suggests a potential upside of 12%.
On the date of publication, Aditya Sarawgi 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.