Chesapeake Utilities (NYSE:CPK – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $5.33-$5.45 for the period, compared to the consensus estimate of $5.40.
Chesapeake Utilities Stock Performance
NYSE:CPK traded down $1.30 during mid-day trading on Friday, hitting $113.90. The stock had a trading volume of 113,780 shares, compared to its average volume of 123,840. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 23.93 and a beta of 0.60. The company has a 50 day simple moving average of $111.05 and a 200-day simple moving average of $107.24. Chesapeake Utilities has a 52 week low of $83.79 and a 52 week high of $120.84. The company has a current ratio of 0.46, a quick ratio of 0.38 and a debt-to-equity ratio of 0.93.
Chesapeake Utilities (NYSE:CPK – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.02). The firm had revenue of $166.30 million during the quarter, compared to the consensus estimate of $194.70 million. Chesapeake Utilities had a net margin of 13.90% and a return on equity of 10.17%. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 earnings per share. On average, research analysts expect that Chesapeake Utilities will post 5.41 earnings per share for the current fiscal year.
Chesapeake Utilities Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.64 per share. The ex-dividend date is Monday, September 16th. This represents a $2.56 annualized dividend and a yield of 2.25%. Chesapeake Utilities’s payout ratio is 53.78%.
Analyst Ratings Changes
Several equities analysts have commented on CPK shares. Barclays started coverage on shares of Chesapeake Utilities in a research note on Thursday, May 30th. They set an equal weight rating and a $111.00 target price on the stock. Wells Fargo & Company raised their target price on shares of Chesapeake Utilities from $105.00 to $115.00 and gave the company an equal weight rating in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $109.80.
Check Out Our Latest Stock Analysis on CPK
Chesapeake Utilities Company Profile
Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment natural gas distribution operations in central and southern Delaware, Maryland’s eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula, Ohio, and Florida; and regulated electric distribution in northeast and northwest Florida.
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