Zacks: Brokerages Anticipate Spark Energy, Inc. (SPKE) Will Announce Quarterly Sales of $207.73 Million
Equities analysts predict that Spark Energy, Inc. (NASDAQ:SPKE) will announce sales of $207.73 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Spark Energy’s earnings, with estimates ranging from $199.20 million to $216.26 million. Spark Energy posted sales of $158.09 million in the same quarter last year, which would indicate a positive year over year growth rate of 31.4%. The company is expected to issue its next earnings report on Thursday, November 9th.
On average, analysts expect that Spark Energy will report full-year sales of $207.73 million for the current financial year, with estimates ranging from $765.30 million to $821.30 million. For the next financial year, analysts expect that the business will report sales of $903.54 million per share, with estimates ranging from $879.80 million to $927.28 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Spark Energy.
Spark Energy (NASDAQ:SPKE) last released its earnings results on Friday, August 4th. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.15). The business had revenue of $151.44 million during the quarter, compared to analysts’ expectations of $135.72 million. Spark Energy had a net margin of 1.68% and a return on equity of 9.13%.
Several equities research analysts recently commented on SPKE shares. Guggenheim raised shares of Spark Energy from a “neutral” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Friday, July 7th. FBR & Co set a $24.00 price objective on shares of Spark Energy and gave the company a “buy” rating in a research report on Monday, July 10th. BidaskClub cut shares of Spark Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research cut shares of Spark Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, ValuEngine raised shares of Spark Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Spark Energy has an average rating of “Hold” and a consensus target price of $23.08.
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Spark Energy (SPKE) traded down 2.14% during mid-day trading on Monday, hitting $13.75. The stock had a trading volume of 39,159 shares. Spark Energy has a 1-year low of $11.52 and a 1-year high of $23.65. The company has a market cap of $180.74 million, a P/E ratio of 18.94 and a beta of -1.59. The company has a 50-day moving average price of $15.18 and a 200 day moving average price of $18.18.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Wednesday, November 29th will be paid a $0.1813 dividend. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $0.73 annualized dividend and a yield of 5.16%. Spark Energy’s payout ratio is currently 107.35%.
In other Spark Energy news, Director W Keith Maxwell III sold 10,524 shares of Spark Energy stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $21.11, for a total value of $222,161.64. Following the sale, the director now directly owns 696,180 shares in the company, valued at approximately $14,696,359.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gil Melman sold 3,000 shares of Spark Energy stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $17.20, for a total transaction of $51,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 163,494 shares of company stock worth $2,638,265 and sold 47,842 shares worth $977,557. 66.89% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC increased its stake in Spark Energy by 49.4% in the 1st quarter. SG Americas Securities LLC now owns 5,743 shares of the utilities provider’s stock valued at $183,000 after buying an additional 1,898 shares during the last quarter. Federated Investors Inc. PA acquired a new stake in Spark Energy in the 2nd quarter valued at $194,000. Highland Capital Management LLC acquired a new stake in Spark Energy in the 2nd quarter valued at $194,000. Bank of Montreal Can increased its stake in Spark Energy by 63.0% in the 2nd quarter. Bank of Montreal Can now owns 10,528 shares of the utilities provider’s stock valued at $198,000 after buying an additional 4,070 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Spark Energy by 159.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,716 shares of the utilities provider’s stock worth $201,000 after purchasing an additional 6,586 shares during the last quarter. Hedge funds and other institutional investors own 35.93% of the company’s stock.
Spark Energy Company Profile
Spark Energy, Inc is an independent retail energy services company. The Company provides residential and commercial customers across the United States with an alternative choice for their natural gas and electricity. The Company operates through two segments: Retail Natural Gas Segment and Retail Electricity Segment.
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