Zacks: Brokerages Expect Spire Inc (NYSE:SR) Will Post Quarterly Sales of $243.88 Million

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Brokerages expect Spire Inc (NYSE:SR) to report $243.88 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Spire’s earnings, with estimates ranging from $227.03 million to $260.73 million. Spire posted sales of $239.20 million during the same quarter last year, which would indicate a positive year over year growth rate of 2%. The company is scheduled to issue its next quarterly earnings report on Thursday, November 21st.

On average, analysts expect that Spire will report full-year sales of $1.99 billion for the current fiscal year, with estimates ranging from $1.95 billion to $2.01 billion. For the next year, analysts expect that the firm will post sales of $1.99 billion, with estimates ranging from $1.70 billion to $2.16 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Spire.

Spire (NYSE:SR) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.03). Spire had a return on equity of 7.56% and a net margin of 9.74%. The company had revenue of $321.30 million for the quarter, compared to the consensus estimate of $333.14 million. During the same quarter in the prior year, the company posted $0.31 EPS. Spire’s revenue was down 8.4% compared to the same quarter last year.

Several research analysts have issued reports on SR shares. Wells Fargo & Co dropped their target price on shares of Spire from $91.00 to $88.00 and set a “market perform” rating on the stock in a report on Friday, August 9th. Credit Suisse Group set a $75.00 price target on shares of Spire and gave the stock a “sell” rating in a research report on Monday, April 22nd. Zacks Investment Research lowered shares of Spire from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley set a $80.00 price target on shares of Spire and gave the company a “sell” rating in a research note on Thursday, May 16th. Four analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $81.80.

Shares of NYSE:SR traded down $0.24 during midday trading on Friday, reaching $80.85. 1,106 shares of the company were exchanged, compared to its average volume of 298,548. The firm has a market capitalization of $4.13 billion, a PE ratio of 21.81, a PEG ratio of 4.92 and a beta of 0.21. The company’s fifty day moving average is $83.92. The company has a current ratio of 0.53, a quick ratio of 0.40 and a debt-to-equity ratio of 0.86. Spire has a one year low of $70.53 and a one year high of $87.13.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be issued a $0.592 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.93%. Spire’s dividend payout ratio (DPR) is 63.71%.

In related news, Director Edward L. Glotzbach acquired 8,000 shares of Spire stock in a transaction that occurred on Wednesday, June 5th. The stock was acquired at an average price of $26.00 per share, for a total transaction of $208,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.90% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SR. Nomura Asset Management Co. Ltd. acquired a new position in Spire in the 2nd quarter valued at approximately $39,000. Krane Funds Advisors LLC bought a new position in shares of Spire in the 2nd quarter valued at about $58,000. Steward Partners Investment Advisory LLC acquired a new stake in Spire during the second quarter worth approximately $170,000. Kavar Capital Partners LLC acquired a new stake in shares of Spire in the second quarter valued at approximately $184,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Spire during the first quarter valued at approximately $203,000. Institutional investors own 78.55% of the company’s stock.

Spire Company Profile

Spire Inc, through 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 two segments, Gas Utility and Gas Marketing. It is also involved in marketing natural gas; and provision of energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.

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