Spire (NYSE:SR) Issues FY 2024 Earnings Guidance

Spire (NYSE:SR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 4.250-4.450 for the period, compared to the consensus 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 %

Shares of SR stock traded down $0.37 during trading hours on Friday, hitting $61.31. The company had a trading volume of 441,248 shares, compared to its average volume of 371,742. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.61 and a quick ratio of 0.43. The stock has a market capitalization of $3.54 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 2.84 and a beta of 0.50. The company’s fifty day moving average is $60.22 and its 200 day moving average is $60.10. Spire has a fifty-two week low of $53.77 and a fifty-two week high of $69.99.

Spire (NYSE:SR) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $3.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.86 by ($0.41). The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.21 billion. Spire had a return on equity of 7.88% and a net margin of 9.05%. Spire’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company posted $3.70 EPS. Research analysts expect that Spire will post 4.34 earnings per share for the current fiscal year.

Spire Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 11th will be issued a $0.755 dividend. The ex-dividend date is Tuesday, June 11th. This represents a $3.02 dividend on an annualized basis and a yield of 4.93%. Spire’s dividend payout ratio (DPR) is presently 76.26%.

Analyst Ratings Changes

A number of brokerages recently commented on SR. Mizuho downgraded shares of Spire from a buy rating to a neutral rating and lowered their target price for the stock from $64.00 to $62.00 in a research note on Thursday. StockNews.com upgraded Spire from a sell rating to a hold rating in a report on Friday. LADENBURG THALM/SH SH began coverage on 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 increased their price target on shares of Spire from $64.00 to $66.00 and gave the company an equal weight rating in a research note on Thursday. Finally, UBS Group started coverage on shares of Spire in a research report on Friday, April 12th. They set a buy rating and a $68.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $61.72.

Insiders Place Their Bets

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