Q4 2017 Earnings Forecast for Scana Corporation Issued By Williams Capital (SCG)
Scana Corporation (NYSE:SCG) – Research analysts at Williams Capital decreased their Q4 2017 earnings estimates for Scana Corporation in a note issued to investors on Monday. Williams Capital analyst C. Ellinghaus now forecasts that the utilities provider will post earnings of $0.99 per share for the quarter, down from their prior estimate of $1.05. Williams Capital has a “Hold” rating and a $70.00 price objective on the stock. Williams Capital also issued estimates for Scana Corporation’s Q1 2018 earnings at $1.39 EPS, Q2 2018 earnings at $0.76 EPS, Q3 2018 earnings at $1.22 EPS, Q4 2018 earnings at $1.09 EPS and FY2018 earnings at $4.46 EPS.
Scana Corporation (NYSE:SCG) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.11. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $931.67 million. Scana Corporation had a return on equity of 10.50% and a net margin of 13.99%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 earnings per share.
Other research analysts also recently issued reports about the company. Mizuho reissued an “underperform” rating and issued a $59.50 target price (up from $57.00) on shares of Scana Corporation in a report on Tuesday, August 1st. BidaskClub downgraded Scana Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) raised Scana Corporation from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $66.00 to $64.00 in a report on Thursday, July 20th. Zacks Investment Research raised Scana Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. Finally, Gabelli downgraded Scana Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Scana Corporation currently has an average rating of “Hold” and a consensus target price of $70.28.
Shares of Scana Corporation (SCG) opened at 58.73 on Tuesday. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 13.86 and a beta of 0.27. The firm’s 50-day moving average price is $61.28 and its 200 day moving average price is $65.37. Scana Corporation has a 52 week low of $58.01 and a 52 week high of $75.92.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Monday, September 11th will be given a $0.6125 dividend. This represents a $2.45 annualized dividend and a yield of 4.17%. The ex-dividend date is Friday, September 8th. Scana Corporation’s dividend payout ratio (DPR) is presently 57.92%.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Scana Corporation by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 13,887,779 shares of the utilities provider’s stock worth $930,620,000 after purchasing an additional 316,210 shares during the last quarter. BlackRock Inc. raised its position in Scana Corporation by 3,558.5% in the 1st quarter. BlackRock Inc. now owns 12,263,023 shares of the utilities provider’s stock worth $801,389,000 after purchasing an additional 11,927,826 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Scana Corporation by 27.7% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,794,850 shares of the utilities provider’s stock worth $120,273,000 after purchasing an additional 389,431 shares during the last quarter. First Trust Advisors LP raised its position in Scana Corporation by 106.6% in the 2nd quarter. First Trust Advisors LP now owns 1,651,461 shares of the utilities provider’s stock worth $110,664,000 after purchasing an additional 852,243 shares during the last quarter. Finally, Morgan Stanley raised its position in Scana Corporation by 127.7% in the 1st quarter. Morgan Stanley now owns 1,473,057 shares of the utilities provider’s stock worth $96,264,000 after purchasing an additional 826,008 shares during the last quarter. Hedge funds and other institutional investors own 66.66% of the company’s stock.
About Scana Corporation
SCANA Corporation is a holding company. The Company, through its subsidiaries, is engaged in the generation, transmission, distribution and sale of electricity in South Carolina. The Company operates through segments, including Electric Operations, Gas Distribution, Gas Marketing and All Other. The Company is engaged in the purchase, transmission and sale of natural gas in North Carolina and South Carolina.
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