The Laclede Group Inc. (SR) Releases FY17 Earnings Guidance
The Laclede Group Inc. (NYSE:SR) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $3.50-3.60 for the period, compared to the Thomson Reuters consensus estimate of $3.55.
A number of equities research analysts have commented on the company. Zacks Investment Research downgraded The Laclede Group from a buy rating to a hold rating in a research report on Tuesday. Guggenheim initiated coverage on The Laclede Group in a report on Thursday, November 3rd. They issued a buy rating and a $69.00 price objective on the stock. Wells Fargo & Co. downgraded The Laclede Group from an outperform rating to a market perform rating in a report on Tuesday, September 6th. Finally, Ladenburg Thalmann initiated coverage on The Laclede Group in a report on Friday, August 19th. They issued a neutral rating and a $69.00 price objective on the stock. Two 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 issued a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $65.33.
Shares of The Laclede Group Inc. (NYSE:SR) opened at 64.40 on Wednesday. The stock has a market cap of $2.94 billion, a P/E ratio of 20.21 and a beta of 0.34. The Laclede Group Inc. has a one year low of $55.24 and a one year high of $71.21. The firm’s 50-day moving average price is $61.96 and its 200 day moving average price is $65.22.
The Laclede Group (NYSE:SR) last posted its quarterly earnings data on Tuesday, November 15th. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.32). The Laclede Group had a return on equity of 8.84% and a net margin of 9.55%. The business had revenue of $279.30 million for the quarter, compared to analysts’ expectations of $219.31 million. During the same quarter last year, the firm earned ($0.37) earnings per share. The business’s revenue was up 36.8% on a year-over-year basis. Equities research analysts expect that The Laclede Group Inc. will post $3.41 EPS for the current fiscal year.
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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