Q3 2024 EPS Estimates for Spire Inc. Increased by Zacks Research (NYSE:SR)

Spire Inc. (NYSE:SR) – Research analysts at Zacks Research upped their Q3 2024 earnings per share estimates for Spire in a report released on Wednesday, May 22nd. Zacks Research analyst R. Department now anticipates that the utilities provider will earn ($0.24) per share for the quarter, up from their previous forecast of ($0.34). The consensus estimate for Spire’s current full-year earnings is $4.34 per share. Zacks Research also issued estimates for Spire’s Q4 2024 earnings at ($0.35) EPS, FY2024 earnings at $4.33 EPS, Q2 2025 earnings at $3.76 EPS, Q3 2025 earnings at ($0.25) EPS and Q4 2025 earnings at ($0.37) EPS.

Spire (NYSE:SR) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $3.45 earnings per share for the quarter, missing analysts’ consensus estimates of $3.86 by ($0.41). The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.21 billion. Spire had a net margin of 9.05% and a return on equity of 7.88%. Spire’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company earned $3.70 EPS.

Several other research analysts have also recently issued reports on SR. UBS Group began coverage on Spire in a research note on Friday, April 12th. They issued a “buy” rating and a $68.00 price target for the company. Wells Fargo & Company raised their target price on shares of Spire from $64.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Mizuho lowered shares of Spire from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $64.00 to $62.00 in a research note on Thursday, May 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $65.00 price objective on shares of Spire in a report on Tuesday, April 16th. Finally, LADENBURG THALM/SH SH initiated coverage on Spire in a report on Friday, April 26th. They set a “neutral” rating and a $57.50 target price on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $61.72.

Spire Trading Down 0.9 %

Shares of NYSE:SR opened at $59.69 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.61 and a debt-to-equity ratio of 1.09. The company’s 50-day moving average price is $60.72 and its 200 day moving average price is $60.60. The company has a market cap of $3.45 billion, a PE ratio of 15.17, a P/E/G ratio of 2.86 and a beta of 0.50. Spire has a fifty-two week low of $53.77 and a fifty-two week high of $68.04.

Hedge Funds Weigh In On Spire

Several institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Spire by 5.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,325 shares of the utilities provider’s stock valued at $301,000 after purchasing an additional 258 shares during the last quarter. Fifth Third Bancorp boosted its stake in Spire by 81.9% in the third quarter. Fifth Third Bancorp now owns 644 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 290 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Spire by 28.0% during the 3rd quarter. Teacher Retirement System of Texas now owns 12,354 shares of the utilities provider’s stock worth $699,000 after acquiring an additional 2,699 shares during the period. California Public Employees Retirement System raised its position in shares of Spire by 6.1% during the 3rd quarter. California Public Employees Retirement System now owns 265,204 shares of the utilities provider’s stock valued at $15,005,000 after acquiring an additional 15,345 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Spire by 206.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,898 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 1,279 shares during the period. Institutional investors own 87.36% of the company’s stock.

Insider Activity at Spire

In other news, Treasurer Adam W. Woodard sold 1,229 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $59.58, for a total value of $73,223.82. Following the completion of the transaction, the treasurer now owns 1,560 shares in the company, valued at approximately $92,944.80. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.86% of the company’s stock.

Spire Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 11th will be paid a dividend of $0.755 per share. This represents a $3.02 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend is Tuesday, June 11th. Spire’s payout ratio is currently 76.26%.

About Spire

Spire Inc, together with its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company operates through three segments: Gas Utility, Gas Marketing, and Midstream. It is also involved in the marketing of natural gas and related services; and transportation and storage of natural gas.