Q3 2016 Earnings Forecast for Southern Co. (SO) Issued By KeyCorp
Southern Co. (NYSE:SO) – Research analysts at KeyCorp issued their Q3 2016 earnings estimates for Southern in a research note issued on Monday. KeyCorp analyst P. Ridzon forecasts that the brokerage will earn $1.20 per share for the quarter. KeyCorp also issued estimates for Southern’s FY2016 earnings at $2.90 EPS.
Southern (NYSE:SO) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.04. Southern had a net margin of 13.77% and a return on equity of 12.50%. The firm earned $4.45 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the previous year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year.
A number of other brokerages have also weighed in on SO. Zacks Investment Research raised Southern from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Tuesday, September 27th. Jefferies Group reaffirmed a “hold” rating on shares of Southern in a research report on Thursday, August 4th. Mizuho reissued a “hold” rating and issued a $50.00 price target on shares of Southern in a research report on Monday, July 11th. SunTrust Banks Inc. upped their price objective on Southern from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, September 26th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and issued a $54.00 price objective on shares of Southern in a research note on Thursday, July 14th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. Southern currently has an average rating of “Hold” and a consensus price target of $53.50.
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Southern (NYSE:SO) traded down 0.65% during trading on Wednesday, reaching $50.76. 1,729,530 shares of the company’s stock were exchanged. Southern has a 12 month low of $43.38 and a 12 month high of $54.64. The firm’s 50-day moving average price is $51.40 and its 200-day moving average price is $51.36. The firm has a market cap of $47.80 billion, a price-to-earnings ratio of 20.15 and a beta of 0.08.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Monday, November 21st will be issued a dividend of $0.56 per share. The ex-dividend date is Thursday, November 17th. This represents a $2.24 dividend on an annualized basis and a yield of 4.38%. Southern’s dividend payout ratio (DPR) is 87.50%.
In related news, CEO Stan W. Connally sold 14,392 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $53.75, for a total transaction of $773,570.00. Following the sale, the chief executive officer now owns 17,716 shares of the company’s stock, valued at approximately $952,235. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christopher C. Womack sold 46,008 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $53.40, for a total value of $2,456,827.20. Following the sale, the executive vice president now directly owns 56,149 shares in the company, valued at approximately $2,998,356.60. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of SO. Acropolis Investment Management LLC purchased a new position in shares of Southern during the third quarter worth $101,000. CWM LLC boosted its position in shares of Southern by 229.9% in the third quarter. CWM LLC now owns 2,039 shares of the company’s stock worth $105,000 after buying an additional 1,421 shares in the last quarter. Krilogy Financial LLC boosted its position in shares of Southern by 87.8% in the second quarter. Krilogy Financial LLC now owns 2,066 shares of the company’s stock worth $111,000 after buying an additional 966 shares in the last quarter. Zions Bancorporation boosted its position in shares of Southern by 1.3% in the first quarter. Zions Bancorporation now owns 2,559 shares of the company’s stock worth $132,000 after buying an additional 32 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of Southern by 447.9% in the second quarter. Loomis Sayles & Co. L P now owns 2,471 shares of the company’s stock worth $133,000 after buying an additional 2,020 shares in the last quarter. 48.64% of the stock is currently owned by institutional investors and hedge funds.
Southern Company Profile
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional operating companies and Southern Power Company (Southern Power), and owns other direct and indirect subsidiaries. Southern Company’s segments include the sale of electricity by four traditional operating companies, Southern Power and All Other.
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