Zacks: Brokerages Expect Spire Inc (SR) Will Announce Quarterly Sales of $238.26 Million
Analysts predict that Spire Inc (NYSE:SR) will announce $238.26 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Spire’s earnings. The highest sales estimate is $254.29 million and the lowest is $222.22 million. Spire posted sales of $258.70 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 7.9%. The business is scheduled to announce its next quarterly earnings report on Wednesday, November 21st.
According to Zacks, analysts expect that Spire will report full year sales of $1.90 billion for the current financial year, with estimates ranging from $1.80 billion to $1.98 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.87 billion per share, with estimates ranging from $1.61 billion to $2.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Spire.
Spire (NYSE:SR) last issued its earnings results on Thursday, August 2nd. The utilities provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.05. Spire had a net margin of 11.43% and a return on equity of 9.36%. The business had revenue of $350.60 million for the quarter, compared to analyst estimates of $304.27 million. During the same period in the previous year, the business earned $0.44 EPS. The firm’s revenue was up 8.4% on a year-over-year basis.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in Spire by 11.2% in the second quarter. BlackRock Inc. now owns 7,036,823 shares of the utilities provider’s stock valued at $497,152,000 after buying an additional 708,454 shares in the last quarter. Wells Fargo & Company MN boosted its position in Spire by 2.7% in the first quarter. Wells Fargo & Company MN now owns 1,125,561 shares of the utilities provider’s stock valued at $81,379,000 after buying an additional 29,412 shares in the last quarter. Northern Trust Corp boosted its position in Spire by 0.5% in the first quarter. Northern Trust Corp now owns 1,048,549 shares of the utilities provider’s stock valued at $75,810,000 after buying an additional 5,133 shares in the last quarter. Duff & Phelps Investment Management Co. raised its stake in shares of Spire by 15.8% in the second quarter. Duff & Phelps Investment Management Co. now owns 945,900 shares of the utilities provider’s stock worth $66,828,000 after acquiring an additional 129,345 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Spire by 18.5% in the second quarter. Renaissance Technologies LLC now owns 885,400 shares of the utilities provider’s stock worth $62,554,000 after acquiring an additional 138,100 shares during the last quarter. Hedge funds and other institutional investors own 82.49% of the company’s stock.
Shares of Spire stock traded down $0.40 during trading on Tuesday, hitting $76.15. 144,700 shares of the company’s stock traded hands, compared to its average volume of 286,080. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.53 and a current ratio of 0.72. Spire has a twelve month low of $60.08 and a twelve month high of $82.85. The firm has a market cap of $3.85 billion, a P/E ratio of 21.43, a price-to-earnings-growth ratio of 5.10 and a beta of 0.01.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 2nd. Shareholders of record on Tuesday, September 11th will be given a $0.5625 dividend. The ex-dividend date of this dividend is Monday, September 10th. This represents a $2.25 dividend on an annualized basis and a yield of 2.95%. Spire’s dividend payout ratio (DPR) is presently 63.20%.
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 customers in the United States. It operates through two segments, Gas Utility and Gas Marketing. The company is also involved in marketing natural gas and provides energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.
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