Spire (NYSE:SR) Issues FY24 Earnings Guidance

Spire (NYSE:SR) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $4.15-4.25 for the period, compared to the consensus EPS estimate of $4.32. Spire also updated its FY 2024 guidance to 4.150-4.250 EPS.

Spire Trading Down 0.2 %

Shares of NYSE SR traded down $0.16 during trading on Friday, reaching $66.11. The company had a trading volume of 609,631 shares, compared to its average volume of 390,352. The company’s fifty day moving average price is $61.64 and its 200-day moving average price is $60.61. Spire has a 12 month low of $53.77 and a 12 month high of $68.02. The stock has a market cap of $3.82 billion, a P/E ratio of 16.69, a PEG ratio of 3.15 and a beta of 0.51. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.11.

Spire (NYSE:SR) last announced its earnings results on Wednesday, July 31st. The utilities provider reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.04. Spire had a return on equity of 8.10% and a net margin of 9.40%. The company had revenue of $414.10 million for the quarter, compared to analyst estimates of $313.86 million. During the same quarter in the prior year, the company earned ($0.42) EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, research analysts expect that Spire will post 4.2 earnings per share for the current year.

Spire Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be given a dividend of $0.755 per share. The ex-dividend date is Tuesday, September 10th. This represents a $3.02 annualized dividend and a dividend yield of 4.57%. Spire’s payout ratio is 76.26%.

Analyst Upgrades and Downgrades

SR has been the topic of several research analyst reports. Morgan Stanley cut their target price on Spire from $67.00 to $64.00 and set an equal weight rating on the stock in a research report on Monday, June 24th. StockNews.com raised Spire from a sell rating to a hold rating in a research note on Friday, May 3rd. Wells Fargo & Company upped their price target on Spire from $64.00 to $66.00 and gave the stock an equal weight rating in a research note on Thursday, May 2nd. Stifel Nicolaus upped their price target on Spire from $64.00 to $70.00 and gave the stock a hold rating in a research note on Thursday. Finally, UBS Group initiated coverage on Spire in a research note on Friday, April 12th. They set a buy rating and a $68.00 price target on the stock. One investment 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’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $62.50.

Insider Buying and Selling

In other news, EVP Steven P. Rasche bought 4,500 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was acquired at an average cost of $23.83 per share, with a total value of $107,235.00. Following the completion of the transaction, the executive vice president now directly owns 16,500 shares of the company’s stock, valued at approximately $393,195. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.86% of the stock is currently owned by corporate 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.