Wall Street analysts forecast that Spire Inc (NYSE:SR) will report $328.75 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Spire’s earnings. The highest sales estimate is $378.74 million and the lowest is $278.76 million. Spire reported sales of $350.60 million during the same quarter last year, which indicates a negative year-over-year growth rate of 6.2%. The firm is scheduled to report its next earnings results on Thursday, August 1st.
According to Zacks, analysts expect that Spire will report full year sales of $2.00 billion for the current year, with estimates ranging from $1.91 billion to $2.06 billion. For the next fiscal year, analysts anticipate that the business will report sales of $2.00 billion, with estimates ranging from $1.68 billion to $2.22 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Spire.
Spire (NYSE:SR) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $2.90 EPS for the quarter, topping the Zacks’ consensus estimate of $2.63 by $0.27. Spire had a net margin of 11.12% and a return on equity of 8.05%. The firm had revenue of $803.50 million during the quarter, compared to analysts’ expectations of $795.74 million. During the same period in the previous year, the business posted $2.83 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year.
In other Spire news, Director Edward L. Glotzbach bought 8,000 shares of Spire stock in a transaction dated Wednesday, June 5th. The stock was bought at an average price of $26.00 per share, with a total value of $208,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc lifted its position in Spire by 2.4% during the third quarter. Vanguard Group Inc now owns 5,130,613 shares of the utilities provider’s stock worth $377,356,000 after purchasing an additional 119,269 shares during the period. Municipal Employees Retirement System of Michigan bought a new stake in Spire during the fourth quarter worth about $1,299,000. Alpha Windward LLC bought a new stake in Spire during the first quarter worth about $509,000. Dupont Capital Management Corp bought a new stake in Spire during the first quarter worth about $255,000. Finally, Geode Capital Management LLC lifted its position in Spire by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 524,755 shares of the utilities provider’s stock worth $38,873,000 after purchasing an additional 36,785 shares during the period. 78.80% of the stock is owned by institutional investors and hedge funds.
SR stock opened at $85.08 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.50 and a current ratio of 0.59. The stock’s fifty day moving average is $84.80. Spire has a one year low of $70.25 and a one year high of $87.13. The company has a market capitalization of $4.34 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 4.63 and a beta of 0.24.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 11th will be given a $0.5925 dividend. The ex-dividend date is Monday, June 10th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.79%. Spire’s payout ratio is presently 63.71%.
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.
Recommended Story: No Load Funds
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Spire Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spire and related companies with MarketBeat.com's FREE daily email newsletter.