Brokerages expect Spire Inc (NYSE:SR) to announce $300.96 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Spire’s earnings, with estimates ranging from $286.61 million to $315.3 million. Spire posted sales of $249.3 million during the same quarter last year, which would indicate a positive year over year growth rate of 20.7%. The firm is expected to report its next quarterly earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that Spire will report full year sales of $300.96 million for the current financial year, with estimates ranging from $1.65 billion to $1.72 billion. For the next financial year, analysts expect that the firm will post sales of $1.73 billion per share, with estimates ranging from $1.66 billion to $1.83 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Spire.
Spire (NYSE:SR) last posted its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $2.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.37 by $0.01. The firm had revenue of $663.40 million during the quarter, compared to analysts’ expectations of $662.43 million. Spire had a net margin of 8.73% and a return on equity of 8.60%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company posted $2.37 EPS.
Several analysts recently commented on SR shares. Zacks Investment Research cut shares of Spire from a “hold” rating to a “sell” rating in a report on Wednesday, April 5th. Credit Suisse Group AG assumed coverage on Spire in a report on Wednesday, January 25th. They issued a “neutral” rating and a $68.00 price target for the company. Finally, Morgan Stanley lifted their price target on Spire from $70.00 to $71.00 and gave the company an “underweight” rating in a report on Monday, May 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Spire currently has an average rating of “Hold” and a consensus target price of $68.80.
A number of hedge funds and other institutional investors have recently bought and sold shares of SR. Bessemer Group Inc. boosted its position in Spire by 9.0% in the fourth quarter. Bessemer Group Inc. now owns 38,784 shares of the utilities provider’s stock valued at $2,504,000 after buying an additional 3,200 shares in the last quarter. Comerica Bank raised its stake in Spire by 3.8% in the fourth quarter. Comerica Bank now owns 63,544 shares of the utilities provider’s stock worth $4,143,000 after buying an additional 2,329 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Spire by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 5,070 shares of the utilities provider’s stock worth $342,000 after buying an additional 100 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Spire during the fourth quarter worth about $3,326,000. Finally, State Street Corp raised its stake in Spire by 5.9% in the fourth quarter. State Street Corp now owns 1,092,791 shares of the utilities provider’s stock worth $70,537,000 after buying an additional 61,292 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.
Spire (NYSE:SR) traded up 0.78% during midday trading on Thursday, hitting $70.90. 124,383 shares of the stock traded hands. The company’s 50-day moving average is $69.19 and its 200-day moving average is $65.90. Spire has a one year low of $59.54 and a one year high of $71.21. The company has a market cap of $3.42 billion, a PE ratio of 21.65 and a beta of 0.34.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Monday, June 12th will be given a $0.525 dividend. The ex-dividend date is Thursday, June 8th. This represents a $2.10 annualized dividend and a yield of 2.96%. Spire’s dividend payout ratio is currently 65.02%.
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Spire Company Profile
Spire Inc, formerly The Laclede Group, Inc, is engaged to transform its business and pursue growth by growing its gas utility business through prudent investment in infrastructure upgrades and organic growth initiatives; acquire and integrate gas utilities; modernize its gas assets, and invest in innovation.
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