Spire Inc. (NYSE:SR) Expected to Post Earnings of $0.40 Per Share
Analysts expect that Spire Inc. (NYSE:SR) will post earnings per share of $0.40 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Spire’s earnings, with estimates ranging from $0.33 to $0.43. Spire posted earnings of $0.33 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 21.2%. The company is expected to announce its next earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that Spire will report full year earnings of $3.53 per share for the current fiscal year, with EPS estimates ranging from $3.50 to $3.55. For the next fiscal year, analysts anticipate that the company will post earnings of $3.64 per share, with EPS estimates ranging from $3.49 to $3.75. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Spire.
Spire (NYSE:SR) last posted its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.01. The company had revenue of $663.40 million for the quarter, compared to the consensus estimate of $662.43 million. Spire had a return on equity of 8.66% and a net margin of 8.87%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.37 EPS.
A number of equities analysts recently commented on SR shares. Zacks Investment Research downgraded shares of Spire from a “hold” rating to a “sell” rating in a research note on Wednesday, April 5th. Morgan Stanley boosted their price objective on shares of Spire from $70.00 to $71.00 and gave the stock an “underweight” rating in a research note on Monday, May 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $70.80.
Several institutional investors have recently modified their holdings of the company. Parkside Financial Bank & Trust increased its position in shares of Spire by 34.2% in the first quarter. Parkside Financial Bank & Trust now owns 1,597 shares of the utilities provider’s stock worth $108,000 after buying an additional 407 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Spire by 86.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,200 shares of the utilities provider’s stock worth $142,000 after buying an additional 1,019 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Spire by 8.4% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,277 shares of the utilities provider’s stock worth $223,000 after buying an additional 255 shares during the last quarter. Everence Capital Management Inc. acquired a new position in shares of Spire during the first quarter worth about $242,000. Finally, Creative Planning increased its position in shares of Spire by 6.1% in the second quarter. Creative Planning now owns 3,826 shares of the utilities provider’s stock worth $267,000 after buying an additional 220 shares during the last quarter. 74.33% of the stock is currently owned by institutional investors and hedge funds.
Spire (NYSE:SR) traded down 1.00% during mid-day trading on Thursday, hitting $69.10. The company had a trading volume of 122,535 shares. The company has a 50 day moving average of $70.69 and a 200 day moving average of $67.14. Spire has a 1-year low of $59.54 and a 1-year high of $72.82. The firm has a market capitalization of $3.33 billion, a PE ratio of 21.10 and a beta of 0.33.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Monday, June 12th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Thursday, June 8th. Spire’s payout ratio is presently 64.02%.
Spire Company Profile
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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