Vectren Corporation (VVC) Expected to Announce Earnings of $0.80 Per Share
Wall Street brokerages forecast that Vectren Corporation (NYSE:VVC) will announce earnings per share (EPS) of $0.80 for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Vectren Corporation’s earnings. Vectren Corporation reported earnings of $0.84 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 4.8%. The business is scheduled to report its next quarterly earnings results on Wednesday, February 28th.
On average, analysts expect that Vectren Corporation will report full-year earnings of $2.62 per share for the current fiscal year, with EPS estimates ranging from $2.60 to $2.65. For the next fiscal year, analysts anticipate that the business will post earnings of $2.81 per share, with EPS estimates ranging from $2.80 to $2.85. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Vectren Corporation.
Vectren Corporation (NYSE:VVC) last released its quarterly earnings data on Thursday, November 2nd. The company reported C$0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.67 by C$0.08. The business had revenue of C$691.20 million for the quarter, compared to analysts’ expectations of C$615.00 million. Vectren Corporation had a return on equity of 12.51% and a net margin of 8.49%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 EPS.
VVC has been the topic of several analyst reports. BidaskClub raised Vectren Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Zacks Investment Research cut Vectren Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of C$65.50.
In other news, Director Derrick Burks purchased 1,000 shares of the stock in a transaction dated Thursday, September 28th. The shares were purchased at an average cost of C$65.60 per share, with a total value of C$65,600.00. Following the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at C$65,600. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. increased its stake in shares of Vectren Corporation by 3.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,371 shares of the company’s stock worth $139,000 after purchasing an additional 75 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of Vectren Corporation by 220.7% in the 2nd quarter. Global X Management Co. LLC now owns 2,630 shares of the company’s stock worth $154,000 after purchasing an additional 1,810 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Vectren Corporation by 12.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,993 shares of the company’s stock worth $175,000 after purchasing an additional 331 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of Vectren Corporation by 2.4% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 3,518 shares of the company’s stock worth $206,000 after purchasing an additional 84 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. purchased a new stake in shares of Vectren Corporation in the 3rd quarter worth $206,000. 62.70% of the stock is currently owned by hedge funds and other institutional investors.
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Vectren Corporation (NYSE VVC) opened at C$66.46 on Monday. The stock has a market capitalization of $5,516.31, a P/E ratio of 24.52, a P/E/G ratio of 4.48 and a beta of 0.84. Vectren Corporation has a 12-month low of C$47.01 and a 12-month high of C$68.84. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.70 and a quick ratio of 0.55.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.71%. This is a boost from Vectren Corporation’s previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, November 14th. Vectren Corporation’s dividend payout ratio is presently 61.99%.
About Vectren Corporation
Vectren Corporation (Vectren) is an energy holding company. The Company segregates its operations into groups, including the Utility Group, the Nonutility Group, and Corporate and Other. The Company’s subsidiary, Vectren Utility Holdings, Inc (Utility Holdings or VUHI), serves as the intermediate holding company for three public utilities: Indiana Gas Company, Inc (Indiana Gas), Southern Indiana Gas and Electric Company (SIGECO) and Vectren Energy Delivery of Ohio, Inc (VEDO).
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