Spire (NYSE:SR – Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.15-4.25 for the period, compared to the consensus estimate of $4.32. Spire also updated its FY 2024 guidance to 4.150-4.250 EPS.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on SR. Stifel Nicolaus lifted their price target on shares of Spire from $64.00 to $70.00 and gave the stock a hold rating in a research note on Thursday. Royal Bank of Canada reaffirmed a sector perform rating and issued a $65.00 price objective on shares of Spire in a report on Tuesday, April 16th. StockNews.com raised shares of Spire from a sell rating to a hold rating in a report on Friday, May 3rd. Wells Fargo & Company lifted their price objective on shares of Spire from $64.00 to $66.00 and gave the stock an equal weight rating in a report on Thursday, May 2nd. Finally, Mizuho downgraded shares of Spire from a buy rating to a neutral rating and decreased their price objective for the stock from $64.00 to $62.00 in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Spire currently has an average rating of Hold and an average price target of $62.50.
Read Our Latest Report on Spire
Spire Trading Down 0.2 %
Spire (NYSE:SR – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.04. The firm had revenue of $414.10 million for the quarter, compared to the consensus estimate of $313.86 million. Spire had a return on equity of 8.10% and a net margin of 9.40%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.42) EPS. Analysts predict that Spire will post 4.2 earnings per share for the current fiscal year.
Spire Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be paid a dividend of $0.755 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $3.02 annualized dividend and a yield of 4.57%. Spire’s dividend payout ratio (DPR) is presently 76.26%.
Insider Buying and Selling at Spire
In other news, EVP Steven P. Rasche purchased 4,500 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was acquired at an average price of $23.83 per share, with a total value of $107,235.00. Following the purchase, the executive vice president now owns 16,500 shares in the company, valued at approximately $393,195. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.86% of the company’s stock.
Spire Company Profile
Spire Inc, together with 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 three segments: Gas Utility, Gas Marketing, and Midstream. It is also involved in the marketing of natural gas and related services; and transportation and storage of natural gas.
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