Laclede Group Stock Rating Lowered by Zacks (LG)
Laclede Group (NYSE:LG) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Monday. They currently have a $52.00 target price on the stock. Zacks‘s target price suggests a potential upside of 9.82% from the stock’s previous close.
Separately, analysts at Hilliard Lyons upgraded shares of Laclede Group from a “neutral” rating to a “buy” rating in a research note on Monday, June 16th.
Shares of Laclede Group (NYSE:LG) traded down 0.30% on Monday, hitting $47.21. 147,459 shares of the company’s stock traded hands. Laclede Group has a 1-year low of $42.84 and a 1-year high of $48.99. The stock’s 50-day moving average is $47.82 and its 200-day moving average is $46.52. The company has a market cap of $2.038 billion and a price-to-earnings ratio of 17.58.
Laclede Group (NYSE:LG) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.36 by $0.08. The company had revenue of $241.80 million for the quarter, compared to the consensus estimate of $310.20 million. During the same quarter last year, the company posted $0.36 earnings per share. Analysts expect that Laclede Group will post $2.98 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Tuesday, September 9th.
The Laclede Group, Inc (NYSE:LG) is a utility holding company.
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