The Laclede Group Inc. (SR) Posts Earnings Results
The Laclede Group Inc. (NYSE:SR) released its quarterly earnings results on Tuesday. The company reported ($0.32) EPS for the quarter, meeting analysts’ consensus estimates of ($0.32). The Laclede Group had a return on equity of 8.84% and a net margin of 9.55%. The firm had revenue of $279.30 million for the quarter, compared to analyst estimates of $219.31 million. During the same quarter in the previous year, the company posted ($0.37) EPS. The business’s revenue was up 36.8% on a year-over-year basis. The Laclede Group updated its FY17 guidance to $3.50-3.60 EPS.
The Laclede Group (NYSE:SR) opened at 64.40 on Wednesday. The firm has a market capitalization of $2.94 billion, a P/E ratio of 20.21 and a beta of 0.34. The Laclede Group has a 1-year low of $55.24 and a 1-year high of $71.21. The company’s 50-day moving average price is $61.96 and its 200-day moving average price is $65.22.
A number of research firms have commented on SR. Zacks Investment Research lowered The Laclede Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Guggenheim assumed coverage on The Laclede Group in a research report on Thursday, November 3rd. They set a “buy” rating and a $69.00 target price on the stock. Wells Fargo & Co. lowered The Laclede Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 6th. Finally, Ladenburg Thalmann assumed coverage on The Laclede Group in a research report on Friday, August 19th. They set a “neutral” rating and a $69.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $65.33.
About The Laclede Group
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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