E.ON SE
EOAN: XETR (DEU)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| €65.00 | Qwss | Bnqzxycmv |
E.On Earnings: Exceeded Guidance as Largely Expected; Shares Overvalued
We confirm our EUR 11.40 fair value estimate after E.On released preliminary 2023 earnings above its guidance but a bit shy of our estimates on the bottom line. Final results will be released on March 14. They should include guidance for 2024 as well as the 2023 dividend. We expect the 2023 dividend to amount to EUR 0.54, 5% above 2022, at the upper end of the group's targeted growth and implying a 4.3% yield, in line with the sector median. All in all, shares appear overvalued.