Spire (NYSE:SR) Issues FY 2024 Earnings Guidance

Spire (NYSE:SR) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 4.250-4.450 for the period, compared to the consensus EPS estimate of 4.350. The company issued revenue guidance of -. Spire also updated its FY24 guidance to $4.25 to $4.45 EPS.

Spire Trading Down 0.6 %

NYSE SR traded down $0.37 during trading on Friday, hitting $61.31. The stock had a trading volume of 441,248 shares, compared to its average volume of 371,742. Spire has a one year low of $53.77 and a one year high of $69.99. The stock has a 50 day simple moving average of $60.22 and a 200 day simple moving average of $60.10. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 2.84 and a beta of 0.50. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.43 and a current ratio of 0.61.

Spire (NYSE:SR) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $3.45 earnings per share for the quarter, missing the consensus estimate of $3.86 by ($0.41). Spire had a return on equity of 7.88% and a net margin of 9.05%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the company posted $3.70 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. Sell-side analysts predict that Spire will post 4.34 earnings per share for the current year.

Spire Announces Dividend

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 dividend of $0.755 per share. The ex-dividend date is Tuesday, June 11th. This represents a $3.02 annualized dividend and a dividend yield of 4.93%. Spire’s dividend payout ratio (DPR) is 76.26%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Mizuho downgraded shares of Spire from a buy rating to a neutral rating and reduced their price target for the stock from $64.00 to $62.00 in a research note on Thursday. LADENBURG THALM/SH SH began coverage on shares of Spire in a research report on Friday, April 26th. They set a neutral rating and a $57.50 target price on the stock. Wells Fargo & Company boosted their price target on Spire from $64.00 to $66.00 and gave the company an equal weight rating in a report on Thursday. StockNews.com upgraded Spire from a sell rating to a hold rating in a report on Friday. Finally, Royal Bank of Canada reiterated a sector perform rating and issued a $65.00 target price on shares of Spire in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Spire has a consensus rating of Hold and a consensus price target of $61.72.

Insiders Place Their Bets

In related news, Treasurer Adam W. Woodard sold 1,229 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $59.58, for a total transaction of $73,223.82. Following the completion of the sale, the treasurer now directly owns 1,560 shares in the company, valued at approximately $92,944.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Joseph B. Hampton sold 1,294 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $58.13, for a total transaction of $75,220.22. Following the completion of the sale, the insider now owns 6,768 shares of the company’s stock, valued at $393,423.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Treasurer Adam W. Woodard sold 1,229 shares of Spire stock in a transaction on Friday, March 15th. The stock was sold at an average price of $59.58, for a total transaction of $73,223.82. Following the completion of the transaction, the treasurer now directly owns 1,560 shares in the company, valued at $92,944.80. The disclosure for this sale can be found here. 2.86% of the stock is owned by company insiders.

About Spire

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.