Scana Corporation (SCG) Downgraded to “Sell” at Williams Capital
Scana Corporation (NYSE:SCG) was downgraded by analysts at Williams Capital from a “hold” rating to a “sell” rating in a research note issued on Friday, MarketBeat reports. Williams Capital also issued estimates for Scana Corporation’s Q3 2018 earnings at $1.09 EPS, Q4 2018 earnings at $0.96 EPS, FY2018 earnings at $4.20 EPS and FY2019 earnings at $4.20 EPS.
Several other research firms have also recently weighed in on SCG. BidaskClub upgraded Scana Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Mizuho reaffirmed an “underperform” rating and issued a $63.00 price objective on shares of Scana Corporation in a research note on Friday, July 7th. Morgan Stanley decreased their price objective on Scana Corporation from $70.00 to $67.00 and set an “underweight” rating on the stock in a report on Tuesday, July 11th. Zacks Investment Research cut Scana Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Goldman Sachs Group, Inc. (The) upgraded Scana Corporation from a “sell” rating to a “neutral” rating and lowered their target price for the company from $66.00 to $64.00 in a research report on Thursday, July 20th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Scana Corporation has a consensus rating of “Hold” and an average target price of $68.06.
Scana Corporation (SCG) traded down 0.06% during mid-day trading on Friday, reaching $48.55. The company had a trading volume of 2,244,452 shares. Scana Corporation has a 1-year low of $47.96 and a 1-year high of $74.99. The firm has a 50-day moving average of $58.39 and a 200 day moving average of $64.32. The company has a market capitalization of $6.94 billion, a PE ratio of 11.46 and a beta of 0.23.
Scana Corporation (NYSE:SCG) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.11. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $931.67 million. Scana Corporation had a return on equity of 10.50% and a net margin of 13.99%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, analysts predict that Scana Corporation will post $4.17 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Federated Investors Inc. PA raised its holdings in Scana Corporation by 264,341.0% during the 2nd quarter. Federated Investors Inc. PA now owns 161,309 shares of the utilities provider’s stock valued at $10,809,000 after buying an additional 161,248 shares during the period. Aberdeen Asset Management PLC UK lifted its position in Scana Corporation by 23.2% in the second quarter. Aberdeen Asset Management PLC UK now owns 48,016 shares of the utilities provider’s stock worth $3,218,000 after buying an additional 9,028 shares during the last quarter. BlueCrest Capital Management Ltd lifted its position in Scana Corporation by 331.7% in the first quarter. BlueCrest Capital Management Ltd now owns 18,260 shares of the utilities provider’s stock worth $1,193,000 after buying an additional 14,030 shares during the last quarter. American Century Companies Inc. lifted its position in Scana Corporation by 22.6% in the second quarter. American Century Companies Inc. now owns 234,866 shares of the utilities provider’s stock worth $15,738,000 after buying an additional 43,225 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp bought a new stake in Scana Corporation in the second quarter worth $2,767,000. 66.66% of the stock is currently owned by hedge funds and other institutional investors.
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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