Spire Inc. (NYSE:SR) Expected to Announce Quarterly Sales of $300.96 Million
Equities analysts expect that Spire Inc. (NYSE:SR) will post $300.96 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Spire’s earnings. The highest sales estimate is $315.30 million and the lowest is $286.61 million. Spire posted sales of $249.30 million in the same quarter last year, which would indicate a positive year over year growth rate of 20.7%. The company is expected to issue its next quarterly earnings results on Wednesday, August 2nd.
On average, 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 year, analysts expect that the business will post sales of $1.74 billion per share, with estimates ranging from $1.66 billion to $1.83 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Spire.
Spire (NYSE:SR) last issued its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $2.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.37 by $0.01. The company had revenue of $663.40 million during the quarter, compared to analyst estimates of $662.43 million. Spire had a net margin of 8.87% and a return on equity of 8.66%. Spire’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business earned $2.37 EPS.
Several analysts recently weighed in on SR shares. Zacks Investment Research downgraded Spire from a “hold” rating to a “sell” rating in a report on Wednesday, April 5th. Morgan Stanley lifted their price objective on Spire from $70.00 to $71.00 and gave the company an “underweight” rating in a report on Monday, May 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $70.80.
Several hedge funds have recently added to or reduced their stakes in SR. State Street Corp increased 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 valued at $70,537,000 after buying an additional 61,292 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Spire by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 885,940 shares of the utilities provider’s stock valued at $57,188,000 after buying an additional 12,083 shares during the last quarter. Credit Agricole S A purchased a new stake in Spire during the fourth quarter valued at $1,329,000. Envestnet Asset Management Inc. increased its stake in Spire by 86.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,200 shares of the utilities provider’s stock valued at $142,000 after buying an additional 1,019 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in Spire during the fourth quarter valued at $1,762,000. Hedge funds and other institutional investors own 74.33% of the company’s stock.
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Shares of Spire (NYSE SR) traded up 0.51% on Friday, hitting $69.45. 125,131 shares of the company traded hands. The firm’s 50-day moving average is $70.69 and its 200 day moving average is $67.14. The firm has a market capitalization of $3.35 billion, a P/E ratio of 21.21 and a beta of 0.33. Spire has a 1-year low of $59.54 and a 1-year high of $72.83.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Monday, June 12th were issued a $0.525 dividend. The ex-dividend date was Thursday, June 8th. This represents a $2.10 annualized dividend and a dividend yield of 3.02%. Spire’s payout ratio is currently 64.02%.
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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