Spire (NYSE:SR) Updates FY24 Earnings Guidance

Spire (NYSE:SR) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $4.25 to $4.45 for the period, compared to the consensus estimate of $4.35. Spire also updated its FY 2024 guidance to 4.250-4.450 EPS.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. StockNews.com upgraded shares of Spire from a sell rating to a hold rating in a research report on Friday. LADENBURG THALM/SH SH began coverage on Spire in a report on Friday, April 26th. They issued a neutral rating and a $57.50 price objective for the company. Mizuho lowered shares of Spire from a buy rating to a neutral rating and cut their target price for the company from $64.00 to $62.00 in a research note on Thursday. Wells Fargo & Company upped their price target on Spire from $64.00 to $66.00 and gave the stock an equal weight rating in a research note on Thursday. Finally, UBS Group began coverage on shares of Spire in a research note on Friday, April 12th. They set a buy rating and a $68.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $61.72.

Spire Price Performance

NYSE:SR opened at $61.31 on Friday. The company has a 50 day moving average price of $60.22 and a 200-day moving average price of $60.10. Spire has a 1-year low of $53.77 and a 1-year high of $69.99. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 2.84 and a beta of 0.50. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.61 and a quick ratio of 0.43.

Spire (NYSE:SR) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $3.45 EPS for the quarter, missing the consensus estimate of $3.86 by ($0.41). The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Spire had a return on equity of 7.88% and a net margin of 9.05%. Spire’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.70 EPS. Equities research analysts forecast that Spire will post 4.34 EPS for the current year.

Spire Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 11th will be given a $0.755 dividend. This represents a $3.02 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date is Tuesday, June 11th. Spire’s payout ratio is 76.26%.

Insider Transactions at Spire

In other news, Treasurer Adam W. Woodard sold 1,229 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $59.58, for a total transaction of $73,223.82. Following the completion of the transaction, the treasurer now directly owns 1,560 shares of the company’s stock, valued at $92,944.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Spire news, insider Joseph B. Hampton sold 1,294 shares of Spire stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $58.13, for a total value of $75,220.22. Following the transaction, the insider now directly owns 6,768 shares in the company, valued at approximately $393,423.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Treasurer Adam W. Woodard sold 1,229 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $59.58, for a total transaction of $73,223.82. Following the sale, the treasurer now owns 1,560 shares in the company, valued at $92,944.80. The disclosure for this sale can be found here. Corporate insiders own 2.86% of the company’s stock.

Spire Company Profile

Spire Inc, together with its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company operates through three segments: Gas Utility, Gas Marketing, and Midstream. It is also involved in the marketing of natural gas and related services; and transportation and storage of natural gas.