Southern Company (The) (SO) Issues Quarterly Earnings Results
Southern Company (The) (NYSE:SO) issued its quarterly earnings results on Wednesday. The utilities provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.04, Bloomberg Earnings reports. Southern Company (The) had a net margin of 2.93% and a return on equity of 11.30%. The business had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.16 billion. During the same quarter in the previous year, the firm earned $1.27 earnings per share. The company’s revenue for the quarter was down 1.0% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 6th. Investors of record on Monday, November 20th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 4.44%. The ex-dividend date is Friday, November 17th. Southern Company (The)’s dividend payout ratio is presently 346.27%.
In other Southern Company (The) news, VP James Y. Kerr II sold 25,000 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $52.16, for a total value of $1,304,000.00. Following the transaction, the vice president now owns 26,000 shares in the company, valued at approximately $1,356,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William P. Bowers sold 85,151 shares of the firm’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $50.00, for a total value of $4,257,550.00. The disclosure for this sale can be found here. Insiders sold a total of 162,092 shares of company stock worth $8,287,353 in the last 90 days. 1.00% of the stock is currently owned by insiders.
Several equities analysts have weighed in on the stock. Bank of America Corporation reaffirmed an “underperform” rating and set a $51.00 price target on shares of Southern Company (The) in a report on Tuesday, October 24th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $53.00 price target on shares of Southern Company (The) in a report on Monday, July 31st. J P Morgan Chase & Co started coverage on shares of Southern Company (The) in a report on Tuesday, August 8th. They set an “overweight” rating and a $16.78 price target on the stock. BidaskClub cut shares of Southern Company (The) from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Finally, Credit Suisse Group upgraded shares of Southern Company (The) from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 3rd. Four analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $49.72.
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Southern Company (The) Company Profile
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.
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