Gabelli Weighs in on Spire Inc.’s FY2020 Earnings (SR)
Spire Inc. (NYSE:SR) – Gabelli issued their FY2020 EPS estimates for Spire in a research report issued to clients and investors on Thursday. Gabelli analyst T. Winter anticipates that the utilities provider will earn $4.10 per share for the year.
Spire (NYSE:SR) last announced its quarterly earnings data on Wednesday, November 15th. The utilities provider reported ($0.22) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.04. The company had revenue of $258.70 million during the quarter, compared to analyst estimates of $271.65 million. Spire had a net margin of 9.28% and a return on equity of 8.71%. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period last year, the business earned ($0.32) EPS. TRADEMARK VIOLATION NOTICE: This report was originally reported by Watch List News and is owned by of Watch List News. If you are accessing this report on another site, it was stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this report can be accessed at https://www.watchlistnews.com/gabelli-weighs-in-on-spire-inc-s-fy2020-earnings-sr/1718581.html.
SR has been the subject of several other reports. Zacks Investment Research raised shares of Spire from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Wednesday, October 4th. Morgan Stanley raised their price objective on shares of Spire from $73.00 to $75.00 and gave the stock an “underweight” rating in a report on Friday, September 8th. Stifel Nicolaus raised their price objective on shares of Spire from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, November 16th. Royal Bank Of Canada reissued a “hold” rating and set a $73.00 price objective on shares of Spire in a report on Wednesday, August 9th. Finally, J P Morgan Chase & Co raised their price objective on shares of Spire from $71.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $75.00.
Shares of Spire (NYSE SR) traded up $0.70 during mid-day trading on Monday, reaching $78.90. 187,451 shares of the company’s stock traded hands, compared to its average volume of 187,337. The firm has a market cap of $3,791.36, a price-to-earnings ratio of 21.58, a P/E/G ratio of 3.97 and a beta of 0.30. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.46 and a current ratio of 0.66. Spire has a 52 week low of $62.33 and a 52 week high of $79.65.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Monday, December 11th will be issued a $0.5625 dividend. The ex-dividend date is Friday, December 8th. This is a positive change from Spire’s previous quarterly dividend of $0.53. This represents a $2.25 annualized dividend and a dividend yield of 2.85%. Spire’s payout ratio is 59.66%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bruderman Asset Management LLC acquired a new position in shares of Spire in the 2nd quarter valued at about $124,000. LS Investment Advisors LLC boosted its holdings in shares of Spire by 13.0% in the 2nd quarter. LS Investment Advisors LLC now owns 1,793 shares of the utilities provider’s stock valued at $125,000 after buying an additional 206 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Spire by 8.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,825 shares of the utilities provider’s stock valued at $127,000 after buying an additional 144 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Spire by 11.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,070 shares of the utilities provider’s stock valued at $144,000 after buying an additional 209 shares during the period. Finally, Advisor Group Inc. boosted its holdings in shares of Spire by 30.7% in the 2nd quarter. Advisor Group Inc. now owns 2,147 shares of the utilities provider’s stock valued at $149,000 after buying an additional 504 shares during the period. 79.36% of the stock is owned by institutional investors and hedge funds.
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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