Analysts Set The Laclede Group Inc. (SR) Price Target at $66.50
The Laclede Group Inc. (NYSE:SR) has been assigned a consensus recommendation of “Hold” from the eight research firms that are presently covering the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $66.50.
Several analysts have commented on the stock. Guggenheim assumed coverage on shares of The Laclede Group in a research note on Thursday, November 3rd. They issued a “buy” rating and a $69.00 price target on the stock. Zacks Investment Research cut shares of The Laclede Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 15th. Wells Fargo & Co. cut shares of The Laclede Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 6th. Finally, Ladenburg Thalmann assumed coverage on shares of The Laclede Group in a research note on Friday, August 19th. They issued a “neutral” rating and a $69.00 price target on the stock.
An institutional investor recently bought a new position in The Laclede Group stock. Riverhead Capital Management LLC bought a new position in The Laclede Group Inc. (NYSE:SR) during the third quarter, according to its most recent filing with the SEC. The institutional investor bought 1,800 shares of the company’s stock, valued at approximately $115,000. Institutional investors own 81.16% of the company’s stock.
Shares of The Laclede Group (NYSE:SR) opened at 64.35 on Tuesday. The Laclede Group has a 12-month low of $55.24 and a 12-month high of $71.21. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 19.86 and a beta of 0.34. The stock’s 50 day moving average is $61.96 and its 200-day moving average is $65.22.
The Laclede Group (NYSE:SR) last released its earnings results on Tuesday, November 15th. The company reported ($0.32) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.32). The Laclede Group had a net margin of 9.38% and a return on equity of 8.71%. The company had revenue of $279.30 million for the quarter, compared to analysts’ expectations of $219.31 million. During the same quarter in the previous year, the company earned ($0.37) EPS. The Laclede Group’s revenue for the quarter was up 36.8% on a year-over-year basis. On average, analysts expect that The Laclede Group will post $3.54 earnings per share for the current 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).
Receive News & Stock Ratings for The Laclede Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Laclede Group Inc. and related stocks with our FREE daily email newsletter.