SunTrust Banks Comments on Southern Company (The)’s Q3 2017 Earnings (SO)
Southern Company (The) (NYSE:SO) – SunTrust Banks cut their Q3 2017 earnings per share (EPS) estimates for Southern Company (The) in a report issued on Thursday. SunTrust Banks analyst A. Agha now expects that the utilities provider will post earnings per share of $1.06 for the quarter, down from their prior estimate of $1.27. SunTrust Banks also issued estimates for Southern Company (The)’s FY2017 earnings at $2.95 EPS, FY2018 earnings at $3.00 EPS, Q1 2019 earnings at $0.70 EPS, Q2 2019 earnings at $0.78 EPS and FY2019 earnings at $3.15 EPS.
Southern Company (The) (NYSE:SO) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.23 billion. Southern Company (The) had a return on equity of 11.30% and a net margin of 2.93%. The business’s revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share.
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A number of other research firms have also recently weighed in on SO. Zacks Investment Research cut Southern Company (The) from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Morgan Stanley lowered their price target on Southern Company (The) from $53.00 to $51.00 and set an “underweight” rating on the stock in a report on Friday, June 23rd. Barclays PLC restated an “overweight” rating and issued a $56.00 price target (up previously from $53.00) on shares of Southern Company (The) in a report on Sunday, April 23rd. Jefferies Group LLC restated a “buy” rating and issued a $55.00 price target on shares of Southern Company (The) in a report on Monday, May 15th. Finally, BidaskClub cut Southern Company (The) from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Southern Company (The) has a consensus rating of “Hold” and a consensus target price of $51.54.
Shares of Southern Company (NYSE SO) opened at 48.79 on Friday. The stock has a 50 day moving average price of $48.60 and a 200-day moving average price of $49.48. The firm has a market capitalization of $48.76 billion, a price-to-earnings ratio of 80.25 and a beta of 0.12. Southern Company has a 52 week low of $46.20 and a 52 week high of $53.73.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Monday, August 21st will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Thursday, August 17th. Southern Company (The)’s dividend payout ratio (DPR) is presently 346.27%.
In other Southern Company (The) news, insider Ann P. Daiss sold 5,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $51.28, for a total transaction of $256,400.00. Following the transaction, the insider now owns 7,394 shares of the company’s stock, valued at approximately $379,164.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Art P. Beattie sold 46,940 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $51.50, for a total value of $2,417,410.00. Following the transaction, the insider now directly owns 59,493 shares in the company, valued at approximately $3,063,889.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 152,084 shares of company stock worth $7,665,158. 1.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Chicago Partners Investment Group LLC acquired a new position in shares of Southern Company (The) during the second quarter worth $100,000. Orrstown Financial Services Inc. raised its position in shares of Southern Company (The) by 10.8% in the first quarter. Orrstown Financial Services Inc. now owns 2,050 shares of the utilities provider’s stock worth $102,000 after buying an additional 200 shares in the last quarter. Symmetry Partners LLC acquired a new position in shares of Southern Company (The) during the first quarter worth $103,000. Feltz Wealth PLAN Inc. acquired a new position in shares of Southern Company (The) during the first quarter worth $108,000. Finally, Stuart Chaussee & Associates Inc. raised its position in shares of Southern Company (The) by 358.8% in the first quarter. Stuart Chaussee & Associates Inc. now owns 2,225 shares of the utilities provider’s stock worth $111,000 after buying an additional 1,740 shares in the last quarter. 53.82% of the stock is currently owned by institutional investors.
About Southern Company (The)
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.
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