-$0.28 EPS Expected for Spire Inc. (SR) This Quarter
Wall Street brokerages expect Spire Inc. (NYSE:SR) to announce earnings of ($0.28) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Spire’s earnings, with estimates ranging from ($0.32) to ($0.23). Spire reported earnings per share of ($0.32) during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.5%. The business is scheduled to issue its next earnings report on Tuesday, November 21st.
On average, analysts expect that Spire will report full year earnings of $3.55 per share for the current year, with EPS estimates ranging from $3.50 to $3.58. For the next year, analysts anticipate that the company will report earnings of $3.66 per share, with EPS estimates ranging from $3.54 to $3.78. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Spire.
Spire (NYSE:SR) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. Spire had a net margin of 9.12% and a return on equity of 8.77%. The firm had revenue of $323.50 million during the quarter, compared to analysts’ expectations of $293.99 million. During the same period in the previous year, the company earned $0.33 EPS. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year.
A number of equities research analysts have weighed in on SR shares. Morgan Stanley lifted their price target on shares of Spire from $70.00 to $71.00 and gave the company an “underweight” rating in a research report on Monday, May 8th. Zacks Investment Research upgraded shares of Spire from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research report on Wednesday, July 12th. Royal Bank Of Canada reiterated a “hold” rating and set a $73.00 price target on shares of Spire in a research report on Wednesday, August 9th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $71.00 price target on shares of Spire in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. Spire has a consensus rating of “Hold” and a consensus price target of $71.43.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust raised its position in Spire by 34.2% in the first quarter. Parkside Financial Bank & Trust now owns 1,597 shares of the utilities provider’s stock valued at $108,000 after buying an additional 407 shares during the last quarter. Bruderman Asset Management LLC acquired a new position in Spire during the second quarter valued at approximately $124,000. LS Investment Advisors LLC raised its position in Spire by 13.0% in the second quarter. LS Investment Advisors LLC now owns 1,793 shares of the utilities provider’s stock valued at $125,000 after buying an additional 206 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Spire by 8.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,825 shares of the utilities provider’s stock valued at $127,000 after buying an additional 144 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in Spire by 11.2% in the second quarter. Public Employees Retirement System of Ohio now owns 2,070 shares of the utilities provider’s stock valued at $144,000 after buying an additional 209 shares during the last quarter. 78.59% of the stock is owned by institutional investors and hedge funds.
Spire (NYSE:SR) opened at 75.75 on Friday. The stock has a market capitalization of $3.66 billion, a PE ratio of 21.89 and a beta of 0.33. Spire has a 1-year low of $59.54 and a 1-year high of $76.80. The company’s 50 day moving average is $72.32 and its 200-day moving average is $69.02.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 11th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, September 8th. Spire’s payout ratio is 60.17%.
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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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