Brokerages expect Spire Inc. (NYSE:SR) to post sales of $250.78 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Spire’s earnings, with the lowest sales estimate coming in at $230.19 million and the highest estimate coming in at $271.37 million. Spire posted sales of $279.30 million in the same quarter last year, which suggests a negative year over year growth rate of 10.2%. The firm is scheduled to announce its next earnings results before the market opens on Wednesday, November 15th.

On average, analysts expect that Spire will report full year sales of $250.78 million for the current financial year, with estimates ranging from $1.71 billion to $1.78 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.76 billion per share, with estimates ranging from $1.60 billion to $1.84 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Spire.

Spire (NYSE:SR) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.05. Spire had a return on equity of 8.77% and a net margin of 9.12%. The company had revenue of $323.50 million for the quarter, compared to analyst estimates of $293.99 million. During the same period in the prior year, the company posted $0.33 EPS. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year.

A number of analysts have issued reports on the company. Royal Bank Of Canada reaffirmed a “hold” rating and set a $73.00 price target on shares of Spire in a report on Wednesday, August 9th. Zacks Investment Research raised Spire from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a report on Wednesday, October 4th. Morgan Stanley lifted their price target on Spire from $68.00 to $73.00 and gave the stock an “underweight” rating in a report on Thursday, August 10th. J P Morgan Chase & Co lifted their price target on Spire from $71.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 12th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $71.00 price target on shares of Spire in a report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $73.57.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Spire by 3.3% in the 2nd quarter. BlackRock Inc. now owns 5,901,195 shares of the utilities provider’s stock valued at $411,607,000 after purchasing an additional 188,507 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Spire by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,443,903 shares of the utilities provider’s stock valued at $309,962,000 after purchasing an additional 224,903 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Spire by 124.9% in the 2nd quarter. American Century Companies Inc. now owns 3,475,470 shares of the utilities provider’s stock valued at $242,414,000 after purchasing an additional 1,930,140 shares during the last quarter. State Street Corp lifted its holdings in shares of Spire by 5.7% in the 2nd quarter. State Street Corp now owns 1,236,031 shares of the utilities provider’s stock valued at $86,214,000 after purchasing an additional 67,106 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Spire by 13.2% in the 2nd quarter. Northern Trust Corp now owns 1,051,175 shares of the utilities provider’s stock valued at $73,319,000 after purchasing an additional 122,444 shares during the last quarter. 79.55% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This report was originally posted by American Banking News and is owned by of American Banking News. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/11/03/spire-inc-sr-expected-to-post-quarterly-sales-of-250-78-million.html.

About Spire

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.

Get a free copy of the Zacks research report on Spire (SR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Spire Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spire Inc. and related companies with MarketBeat.com's FREE daily email newsletter.