Sempra (NYSE:SRE) Issues FY 2024 Earnings Guidance

Sempra (NYSE:SRE) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 4.600-4.900 for the period, compared to the consensus EPS estimate of 4.770. The company issued revenue guidance of -. Sempra also updated its FY 2025 guidance to 4.900-5.250 EPS.

Sempra Stock Up 2.7 %

NYSE:SRE traded up $2.22 during mid-day trading on Wednesday, hitting $84.47. The company had a trading volume of 757,375 shares, compared to its average volume of 2,846,010. Sempra has a 1 year low of $66.40 and a 1 year high of $86.57. The company has a current ratio of 0.46, a quick ratio of 0.41 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $53.48 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 2.61 and a beta of 0.75. The business has a fifty day simple moving average of $83.12 and a 200-day simple moving average of $78.93.

Sempra (NYSE:SRE) last issued its earnings results on Tuesday, August 6th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). Sempra had a net margin of 22.31% and a return on equity of 8.58%. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter last year, the company posted $0.94 EPS. The business’s revenue for the quarter was down 9.7% compared to the same quarter last year. Equities analysts forecast that Sempra will post 4.77 earnings per share for the current fiscal year.

Sempra Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.94%. The ex-dividend date was Thursday, September 26th. Sempra’s payout ratio is currently 52.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SRE. Morgan Stanley boosted their price target on Sempra from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Barclays boosted their target price on shares of Sempra from $87.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Jefferies Financial Group assumed coverage on shares of Sempra in a research note on Thursday, October 24th. They set a “buy” rating and a $98.00 price objective on the stock. BMO Capital Markets raised their target price on shares of Sempra from $93.00 to $96.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, Evercore ISI lifted their price target on Sempra from $83.00 to $84.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.55.

Sempra Company Profile

Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County.