The Laclede Group Inc. (SR) Receives $65.67 Average PT from Analysts
The Laclede Group Inc. (NYSE:SR) has earned an average recommendation of “Hold” from the eight analysts that are presently covering the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $66.00.
A number of brokerages have commented on SR. TheStreet raised shares of The Laclede Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 28th. Ladenburg Thalmann began coverage on shares of The Laclede Group in a research note on Friday, August 19th. They set a “neutral” rating and a $69.00 target price on the stock. Wells Fargo & Co. downgraded shares of The Laclede Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 6th. Finally, Zacks Investment Research raised shares of The Laclede Group from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Wednesday, July 6th.
The Laclede Group (NYSE:SR) opened at 61.90 on Tuesday. The stock’s 50 day moving average is $63.77 and its 200-day moving average is $65.99. The Laclede Group has a 1-year low of $54.33 and a 1-year high of $71.21. The company has a market capitalization of $2.83 billion, a P/E ratio of 19.42 and a beta of 0.32.
The Laclede Group (NYSE:SR) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.06. The firm had revenue of $249.30 million for the quarter, compared to analyst estimates of $290.50 million. The Laclede Group had a net margin of 9.55% and a return on equity of 8.84%. The Laclede Group’s quarterly revenue was down 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 earnings per share. On average, analysts expect that The Laclede Group will post $3.42 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Monday, September 12th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Thursday, September 8th. The Laclede Group’s dividend payout ratio (DPR) is 61.25%.
The Laclede Group Company Profile
Spire Inc, formerly The Laclede Group, Inc is a public utility holding company for Laclede Gas Company (Laclede Gas or the Missouri Utilities). It operates through two segments: Gas Utility and Gas Marketing. The Gas Utility segment includes the regulated operations of Laclede Gas and Alabama Gas Corporation (Alagasco or the Alabama Utility) (collectively, the Utilities).
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