FY2018 EPS Estimates for Scana Corporation (SCG) Lowered by Analyst
Scana Corporation (NYSE:SCG) – Gabelli dropped their FY2018 earnings per share estimates for Scana Corporation in a note issued to investors on Thursday. Gabelli analyst T. Winter now anticipates that the utilities provider will post earnings per share of $3.80 for the year, down from their prior estimate of $4.30. Gabelli has a “Hold” rating on the stock.
Scana Corporation (NYSE:SCG) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.11. Scana Corporation had a return on equity of 10.50% and a net margin of 13.99%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $931.67 million. During the same period last year, the business posted $0.74 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year.
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A number of other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Scana Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) raised shares of Scana Corporation from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $66.00 to $64.00 in a research report on Thursday, July 20th. Mizuho raised shares of Scana Corporation from an “underperform” rating to a “neutral” rating and set a $58.50 target price on the stock in a research note on Monday, August 28th. Williams Capital cut their target price on shares of Scana Corporation from $70.00 to $50.00 and set a “hold” rating on the stock in a research note on Wednesday, September 27th. Finally, BidaskClub raised shares of Scana Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Scana Corporation presently has a consensus rating of “Hold” and an average price target of $68.06.
Scana Corporation (NYSE:SCG) traded down 0.68% on Monday, reaching $48.25. The company had a trading volume of 1,466,009 shares. Scana Corporation has a one year low of $47.96 and a one year high of $74.99. The company’s 50 day moving average is $58.39 and its 200-day moving average is $64.32. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 11.39 and a beta of 0.23.
The firm also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Monday, September 11th were issued a dividend of $0.6125 per share. This represents a $2.45 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend was Friday, September 8th. Scana Corporation’s dividend payout ratio (DPR) is presently 57.92%.
Several hedge funds have recently made changes to their positions in SCG. Vanguard Group Inc. increased its stake in shares of 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 acquiring an additional 316,210 shares in the last quarter. BlackRock Inc. lifted its position in Scana Corporation by 3,558.5% during the 1st quarter. BlackRock Inc. now owns 12,263,023 shares of the utilities provider’s stock valued at $801,389,000 after acquiring an additional 11,927,826 shares during the period. Artisan Partners Limited Partnership lifted its position in Scana Corporation by 27.7% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,794,850 shares of the utilities provider’s stock valued at $120,273,000 after acquiring an additional 389,431 shares during the period. First Trust Advisors LP lifted its position in Scana Corporation by 106.6% during the 2nd quarter. First Trust Advisors LP now owns 1,651,461 shares of the utilities provider’s stock valued at $110,664,000 after acquiring an additional 852,243 shares during the period. Finally, Morgan Stanley lifted its position in Scana Corporation by 127.7% during the 1st quarter. Morgan Stanley now owns 1,473,057 shares of the utilities provider’s stock valued at $96,264,000 after acquiring an additional 826,008 shares during the period. 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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