Spire (NYSE:SR) Issues Quarterly Earnings Results

Spire (NYSE:SR) posted its quarterly earnings results on Monday. The utilities provider reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.37, MarketWatch Earnings reports. The company had revenue of $290.20 million for the quarter, compared to analyst estimates of $254.89 million. Spire had a net margin of 11.74% and a return on equity of 10.87%. The firm’s revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.37) earnings per share. Spire updated its FY22 guidance to $3.70-4.00 EPS and its FY 2022 guidance to $3.700-$4.000 EPS.

Spire stock opened at $62.69 on Wednesday. The company has a 50 day moving average price of $63.01. Spire has a 1-year low of $59.29 and a 1-year high of $77.95. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.53 and a current ratio of 0.70. The stock has a market cap of $3.24 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 2.74 and a beta of 0.31.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 4th. Stockholders of record on Friday, December 10th will be paid a $0.685 dividend. This is a boost from Spire’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Thursday, December 9th. This represents a $2.74 annualized dividend and a dividend yield of 4.37%. Spire’s dividend payout ratio is 54.39%.

A number of research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Spire from a “buy” rating to a “hold” rating in a research report on Thursday, August 19th. Wells Fargo & Company cut their price objective on shares of Spire from $78.00 to $67.00 and set an “equal weight” rating for the company in a report on Monday. Bank of America downgraded shares of Spire from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $63.00 to $58.00 in a report on Tuesday. JPMorgan Chase & Co. downgraded shares of Spire from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $76.00 to $70.00 in a report on Tuesday, November 16th. Finally, Mizuho cut their price objective on shares of Spire from $73.00 to $69.00 and set a “buy” rating for the company in a report on Friday, November 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Spire has an average rating of “Hold” and an average target price of $72.00.

Institutional investors have recently bought and sold shares of the company. LPL Financial LLC raised its stake in Spire by 3.3% during the 3rd quarter. LPL Financial LLC now owns 11,419 shares of the utilities provider’s stock worth $699,000 after acquiring an additional 361 shares in the last quarter. UBS Group AG raised its stake in Spire by 26.4% during the 3rd quarter. UBS Group AG now owns 37,464 shares of the utilities provider’s stock worth $2,292,000 after acquiring an additional 7,829 shares in the last quarter. Finally, Morgan Stanley raised its stake in Spire by 55.2% during the 2nd quarter. Morgan Stanley now owns 155,120 shares of the utilities provider’s stock worth $11,210,000 after acquiring an additional 55,164 shares in the last quarter. 83.15% of the stock is owned by institutional investors and hedge funds.

Spire Company Profile

Spire Inc operates as a public utility holding company, which provides natural gas service through its utility operations while engaging in non-regulated activities. It operates through the following business segments: Gas Utility and Gas Marketing. The Gas Utility segment includes the regulated operations of Laclede Gas Company and Alabama Gas Corporation.

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Earnings History for Spire (NYSE:SR)

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