Spire (NYSE:SR) Updates FY19 Earnings Guidance

Spire (NYSE:SR) updated its FY19 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.70-3.80 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.75. Spire also updated its FY 2019 guidance to $3.70-3.80 EPS.

Several research analysts have weighed in on the stock. Credit Suisse Group set a $75.00 price objective on shares of Spire and gave the company a sell rating in a research note on Monday, April 22nd. Wells Fargo & Co lowered shares of Spire from an outperform rating to a market perform rating and set a $92.00 price objective on the stock. in a research note on Friday, May 24th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Spire from a hold rating to a sell rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley set a $80.00 price objective on shares of Spire and gave the company a sell rating in a research note on Thursday, May 16th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $82.60.

Spire stock traded down $0.52 during midday trading on Friday, hitting $81.64. 160,624 shares of the stock were exchanged, compared to its average volume of 301,971. Spire has a 1 year low of $70.53 and a 1 year high of $87.13. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 21.95, a P/E/G ratio of 4.75 and a beta of 0.23. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.50 and a current ratio of 0.53. The company has a 50 day simple moving average of $84.73.

Spire (NYSE:SR) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.03). The company had revenue of $321.30 million during the quarter, compared to analyst estimates of $333.14 million. Spire had a net margin of 9.82% and a return on equity of 7.21%. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 EPS. On average, equities research analysts anticipate that Spire will post 3.72 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be paid a $0.592 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $2.37 annualized dividend and a yield of 2.90%. Spire’s dividend payout ratio is presently 63.71%.

In other news, Director Edward L. Glotzbach acquired 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was acquired at an average price of $26.00 per share, with a total value of $208,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is currently owned by corporate insiders.

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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