Scana Corporation (SCG) Expected to Post Earnings of $1.13 Per Share
Brokerages expect Scana Corporation (NYSE:SCG) to report $1.13 earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have made estimates for Scana Corporation’s earnings. The highest EPS estimate is $1.20 and the lowest is $1.03. Scana Corporation posted earnings of $1.32 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 14.4%. The firm is scheduled to issue its next earnings report on Thursday, October 26th.
On average, analysts expect that Scana Corporation will report full-year earnings of $4.22 per share for the current financial year, with EPS estimates ranging from $4.15 to $4.25. For the next year, analysts expect that the business will post earnings of $4.31 per share, with EPS estimates ranging from $4.10 to $4.70. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Scana Corporation.
Scana Corporation (NYSE:SCG) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.11. Scana Corporation had a net margin of 13.99% and a return on equity of 10.50%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $931.67 million. During the same period in the prior year, the firm earned $0.74 earnings per share. Scana Corporation’s revenue was up 10.6% on a year-over-year basis.
SCG has been the topic of a number of recent research reports. Zacks Investment Research lowered Scana Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Mizuho reiterated an “underperform” rating and set a $59.50 target price (up previously from $57.00) on shares of Scana Corporation in a research note on Tuesday, August 1st. Barclays PLC upgraded Scana Corporation from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $65.00 to $73.00 in a research note on Tuesday, August 1st. Guggenheim lowered Scana Corporation from a “buy” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Morgan Stanley increased their target price on Scana Corporation from $58.00 to $59.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $70.31.
Scana Corporation (NYSE:SCG) traded down 0.13% during trading on Friday, reaching $59.54. 364,304 shares of the company were exchanged. The stock has a market capitalization of $8.51 billion, a P/E ratio of 14.05 and a beta of 0.27. The company’s 50-day moving average price is $61.52 and its 200-day moving average price is $65.57. Scana Corporation has a 1-year low of $58.55 and a 1-year high of $75.92.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Monday, September 11th will be paid a dividend of $0.6125 per share. The ex-dividend date is Friday, September 8th. This represents a $2.45 dividend on an annualized basis and a dividend yield of 4.11%. Scana Corporation’s dividend payout ratio (DPR) is currently 57.92%.
A number of large investors have recently modified their holdings of SCG. American Century Companies Inc. grew its position in Scana Corporation by 119.4% during the first quarter. American Century Companies Inc. now owns 191,641 shares of the utilities provider’s stock worth $12,524,000 after buying an additional 104,304 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Scana Corporation by 128.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 9,747 shares of the utilities provider’s stock worth $663,000 after buying an additional 5,479 shares in the last quarter. US Bancorp DE grew its position in Scana Corporation by 7.8% during the first quarter. US Bancorp DE now owns 22,693 shares of the utilities provider’s stock worth $1,483,000 after buying an additional 1,641 shares in the last quarter. Comerica Bank grew its position in Scana Corporation by 0.8% during the first quarter. Comerica Bank now owns 64,298 shares of the utilities provider’s stock worth $4,323,000 after buying an additional 534 shares in the last quarter. Finally, Xact Kapitalforvaltning AB grew its position in Scana Corporation by 9.9% during the first quarter. Xact Kapitalforvaltning AB now owns 11,437 shares of the utilities provider’s stock worth $747,000 after buying an additional 1,034 shares in the last quarter. 66.70% of the stock is currently owned by institutional investors and hedge funds.
About Scana Corporation
SCANA Corporation is a holding company. The Company, through its subsidiaries, is engaged in the generation, transmission, distribution and sale of electricity in South Carolina. The Company operates through segments, including Electric Operations, Gas Distribution, Gas Marketing and All Other. The Company is engaged in the purchase, transmission and sale of natural gas in North Carolina and South Carolina.
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