Equities analysts expect Spire Inc (NYSE:SR) to post sales of $676.44 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Spire’s earnings, with the lowest sales estimate coming in at $641.10 million and the highest estimate coming in at $711.78 million. Spire reported sales of $663.40 million during the same quarter last year, which would suggest a positive year over year growth rate of 2%. The firm is scheduled to report its next earnings report on Wednesday, May 2nd.
On average, analysts expect that Spire will report full year sales of $676.44 million for the current year, with estimates ranging from $1.70 billion to $1.89 billion. For the next year, analysts expect that the company will post sales of $1.79 billion per share, with estimates ranging from $1.58 billion to $2.01 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Spire.
Spire (NYSE:SR) last posted its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.13. Spire had a net margin of 12.86% and a return on equity of 8.91%. The company had revenue of $561.80 million for the quarter, compared to analyst estimates of $516.16 million. During the same period in the prior year, the firm posted $1.04 EPS. The company’s quarterly revenue was up 13.5% on a year-over-year basis.
A number of research analysts recently issued reports on SR shares. Zacks Investment Research downgraded shares of Spire from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. ValuEngine downgraded shares of Spire from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Morgan Stanley boosted their target price on shares of Spire from $75.00 to $77.00 and gave the company an “underweight” rating in a research report on Wednesday, December 13th. Stifel Nicolaus boosted their target price on shares of Spire from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, November 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Spire from $77.00 to $65.00 and set an “underweight” rating on the stock in a research report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $69.60.
Institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. raised its holdings in Spire by 30.7% during the second quarter. Advisor Group Inc. now owns 2,147 shares of the utilities provider’s stock worth $149,000 after buying an additional 504 shares during the last quarter. State Street Corp raised its holdings in Spire by 5.7% during the second quarter. State Street Corp now owns 1,236,031 shares of the utilities provider’s stock worth $86,214,000 after buying an additional 67,106 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Spire during the second quarter worth $210,000. The Manufacturers Life Insurance Company raised its holdings in Spire by 3.5% during the second quarter. The Manufacturers Life Insurance Company now owns 35,347 shares of the utilities provider’s stock worth $2,466,000 after buying an additional 1,194 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in Spire by 7.4% during the second quarter. Ameritas Investment Partners Inc. now owns 4,147 shares of the utilities provider’s stock worth $289,000 after buying an additional 284 shares during the last quarter. Institutional investors own 81.21% of the company’s stock.
Spire (NYSE:SR) traded down $0.30 during trading on Friday, hitting $65.90. 396,582 shares of the company were exchanged, compared to its average volume of 322,323. The company has a quick ratio of 0.53, a current ratio of 0.70 and a debt-to-equity ratio of 0.97. Spire has a 52 week low of $60.08 and a 52 week high of $82.85. The firm has a market cap of $3,200.38, a P/E ratio of 13.46, a PEG ratio of 3.95 and a beta of 0.15.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Monday, March 12th will be given a dividend of $0.563 per share. This represents a $2.25 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Friday, March 9th. This is an increase from Spire’s previous quarterly dividend of $0.56. Spire’s payout ratio is presently 45.73%.
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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.
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