Sempra (NYSE:SRE) Updates FY 2024 Earnings Guidance

Sempra (NYSE:SRE) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 4.600-4.900 for the period, compared to the consensus estimate of 4.770. The company issued revenue guidance of -. Sempra also updated its FY 2025 guidance to 4.900-5.250 EPS.

Sempra Price Performance

SRE stock traded up $1.49 during mid-day trading on Friday, hitting $91.25. 3,730,571 shares of the stock were exchanged, compared to its average volume of 2,895,625. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.52 and a quick ratio of 0.41. The stock has a market capitalization of $57.77 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 2.82 and a beta of 0.75. The business has a fifty day moving average price of $83.60 and a 200 day moving average price of $79.21. Sempra has a 12 month low of $66.40 and a 12 month high of $91.88.

Sempra (NYSE:SRE) last issued its earnings results on Wednesday, November 6th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.17). The firm had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Sempra had a return on equity of 8.01% and a net margin of 22.63%. The firm’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 EPS. On average, sell-side analysts anticipate that Sempra will post 4.77 EPS for the current year.

Sempra Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 5th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Thursday, December 5th. Sempra’s payout ratio is presently 54.63%.

Analyst Ratings Changes

SRE has been the subject of several analyst reports. Bank of America started coverage on shares of Sempra in a research report on Thursday, September 12th. They set a “buy” rating and a $94.00 price target for the company. Jefferies Financial Group initiated coverage on Sempra in a research report on Thursday, October 24th. They set a “buy” rating and a $98.00 price target on the stock. Wells Fargo & Company lifted their price target on Sempra from $87.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday. BMO Capital Markets increased their price objective on Sempra from $93.00 to $96.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, Evercore ISI lifted their target price on shares of Sempra from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.00.

Sempra Company Profile

Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County.