$330.49 Million in Sales Expected for Spire Inc (SR) This Quarter

Wall Street analysts forecast that Spire Inc (NYSE:SR) will post $330.49 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Spire’s earnings. The lowest sales estimate is $278.76 million and the highest is $382.21 million. Spire posted sales of $350.60 million during the same quarter last year, which suggests a negative year over year growth rate of 5.7%. The company is expected to issue its next quarterly earnings report on Thursday, August 1st.

On average, analysts expect that Spire will report full year sales of $1.99 billion for the current year, with estimates ranging from $1.91 billion to $2.06 billion. For the next fiscal year, analysts expect that the business will report sales of $2.00 billion, with estimates ranging from $1.68 billion to $2.23 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Spire.

Spire (NYSE:SR) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $2.90 EPS for the quarter, topping the consensus estimate of $2.63 by $0.27. Spire had a return on equity of 8.05% and a net margin of 11.12%. The business had revenue of $803.50 million during the quarter, compared to analyst estimates of $795.74 million. During the same period last year, the business posted $2.83 earnings per share. The company’s quarterly revenue was down 1.2% on a year-over-year basis.

A number of research analysts recently issued reports on SR shares. Zacks Investment Research upgraded Spire from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a report on Wednesday. Wells Fargo & Co lowered Spire from an “outperform” rating to a “market perform” rating and set a $92.00 target price for the company. in a report on Friday, May 24th. They noted that the move was a valuation call. Morgan Stanley set a $80.00 target price on Spire and gave the company a “sell” rating in a report on Thursday, May 16th. Finally, Credit Suisse Group set a $75.00 target price on Spire and gave the company a “sell” rating in a report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $80.29.

A number of large investors have recently added to or reduced their stakes in the stock. Magnus Financial Group LLC raised its stake in Spire by 4.2% in the first quarter. Magnus Financial Group LLC now owns 4,661 shares of the utilities provider’s stock valued at $384,000 after buying an additional 189 shares in the last quarter. Tortoise Index Solutions LLC raised its stake in Spire by 0.3% in the first quarter. Tortoise Index Solutions LLC now owns 56,227 shares of the utilities provider’s stock valued at $4,627,000 after buying an additional 189 shares in the last quarter. JOYN Advisors Inc. raised its stake in Spire by 115.3% in the fourth quarter. JOYN Advisors Inc. now owns 407 shares of the utilities provider’s stock valued at $30,000 after buying an additional 218 shares in the last quarter. Stifel Financial Corp raised its stake in Spire by 3.0% in the fourth quarter. Stifel Financial Corp now owns 7,441 shares of the utilities provider’s stock valued at $550,000 after buying an additional 218 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in Spire by 90.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 593 shares of the utilities provider’s stock valued at $44,000 after buying an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 78.88% of the company’s stock.

Shares of SR traded up $0.03 during midday trading on Monday, hitting $85.35. 10,699 shares of the stock were exchanged, compared to its average volume of 192,650. Spire has a 52-week low of $64.95 and a 52-week high of $87.13. The firm has a market cap of $4.27 billion, a P/E ratio of 22.94, a P/E/G ratio of 4.55 and a beta of 0.24. The company has a quick ratio of 0.50, a current ratio of 0.59 and a debt-to-equity ratio of 0.85.

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 $0.5925 dividend. The ex-dividend date is Monday, June 10th. This represents a $2.37 dividend on an annualized basis and a yield of 2.78%. Spire’s dividend payout ratio (DPR) is presently 63.71%.

Spire Company Profile

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.

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