Southern Company (The) (SO) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS
Southern Company (The) (NYSE:SO) released its earnings results on Wednesday. The utilities provider reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.04, Bloomberg Earnings reports. The firm had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.16 billion. Southern Company (The) had a return on equity of 11.30% and a net margin of 2.93%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.27 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 6th. Stockholders of record on Monday, November 20th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend is Friday, November 17th. Southern Company (The)’s payout ratio is 346.27%.
In other Southern Company (The) news, CEO William P. Bowers sold 85,151 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total transaction of $4,257,550.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Art P. Beattie sold 46,941 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $52.50, for a total value of $2,464,402.50. Following the transaction, the insider now owns 59,494 shares in the company, valued at $3,123,435. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 162,092 shares of company stock worth $8,287,353. Corporate insiders own 1.00% of the company’s stock.
Several equities analysts recently commented on SO shares. Barclays PLC reiterated a “buy” rating and issued a $54.00 target price on shares of Southern Company (The) in a research note on Tuesday, July 25th. Jefferies Group LLC reiterated a “buy” rating and issued a $55.00 target price on shares of Southern Company (The) in a research note on Wednesday, July 19th. Deutsche Bank AG upgraded Southern Company (The) from a “hold” rating to a “buy” rating and upped their target price for the company from $50.00 to $52.00 in a research note on Tuesday, August 1st. Mizuho upgraded Southern Company (The) from a “neutral” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Tuesday, September 5th. Finally, Guggenheim upgraded Southern Company (The) from a “neutral” rating to a “buy” rating and upped their target price for the company from $49.00 to $56.00 in a research note on Thursday, September 14th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. Southern Company (The) currently has an average rating of “Hold” and an average price target of $49.72.
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Southern Company (The) Company Profile
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.
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