Spire (NYSE:SR) Issues FY24 Earnings Guidance

Spire (NYSE:SR) 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.

Spire Stock Performance

Shares of Spire stock opened at $67.58 on Wednesday. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 3.11 and a beta of 0.51. Spire has a twelve month low of $53.77 and a twelve month high of $68.02. The company’s fifty day moving average is $61.30 and its 200 day moving average is $60.48. The company has a quick ratio of 0.48, a current ratio of 0.61 and a debt-to-equity ratio of 1.09.

Spire (NYSE:SR) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $3.45 EPS for the quarter, missing analysts’ consensus estimates of $3.86 by ($0.41). The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.21 billion. Spire had a net margin of 9.05% and a return on equity of 7.88%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $3.70 EPS. Sell-side analysts forecast that Spire will post 4.32 EPS for the current year.

Spire Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be given a $0.755 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $3.02 dividend on an annualized basis and a dividend yield of 4.47%. Spire’s dividend payout ratio (DPR) is currently 76.26%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Mizuho cut 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 research report on Thursday, May 2nd. Royal Bank of Canada reissued a sector perform rating and issued a $65.00 price objective on shares of Spire in a research report on Tuesday, April 16th. UBS Group began coverage on Spire in a report on Friday, April 12th. They issued a buy rating and a $68.00 target price for the company. Morgan Stanley dropped their price objective on shares of Spire from $67.00 to $64.00 and set an equal weight rating on the stock in a report on Monday, June 24th. Finally, StockNews.com raised Spire from a sell rating to a hold rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $61.83.

Insiders Place Their Bets

In other Spire news, EVP Steven P. Rasche bought 4,500 shares of Spire stock in a transaction dated Thursday, June 13th. The stock was bought at an average cost of $23.83 per share, with a total value of $107,235.00. Following the completion of the acquisition, the executive vice president now directly owns 16,500 shares in the company, valued at approximately $393,195. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.