Spire Inc. to Post Q3 2024 Earnings of ($0.34) Per Share, Zacks Research Forecasts (NYSE:SR)

Spire Inc. (NYSE:SR) – Research analysts at Zacks Research reduced their Q3 2024 earnings estimates for shares of Spire in a research note issued to investors on Wednesday, April 17th. Zacks Research analyst R. Department now expects that the utilities provider will post earnings per share of ($0.34) for the quarter, down from their prior forecast of ($0.31). The consensus estimate for Spire’s current full-year earnings is $4.35 per share. Zacks Research also issued estimates for Spire’s Q4 2024 earnings at ($0.61) EPS, FY2024 earnings at $4.35 EPS, Q3 2025 earnings at ($0.29) EPS, Q4 2025 earnings at ($0.42) EPS and Q1 2026 earnings at $1.41 EPS.

Several other equities research analysts have also commented on SR. UBS Group started coverage on shares of Spire in a report on Friday, April 12th. They issued a “buy” rating and a $68.00 price target for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $65.00 price target on shares of Spire in a report on Tuesday. Finally, Mizuho reduced their price target on shares of Spire from $66.00 to $64.00 and set a “buy” rating for the company in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Spire presently has a consensus rating of “Hold” and an average target price of $62.25.

Spire Trading Up 2.5 %

Shares of SR opened at $60.91 on Friday. Spire has a 1-year low of $53.77 and a 1-year high of $70.60. The company has a 50-day moving average of $59.76 and a 200 day moving average of $59.81. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 2.68 and a beta of 0.51. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.55 and a quick ratio of 0.43.

Spire (NYSE:SR) last announced its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.10. Spire had a net margin of 8.11% and a return on equity of 8.27%. The company had revenue of $756.60 million during the quarter, compared to analyst estimates of $688.88 million. During the same quarter last year, the business posted $1.55 EPS. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis.

Spire Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 11th were paid a dividend of $0.755 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.02 annualized dividend and a dividend yield of 4.96%. Spire’s dividend payout ratio (DPR) is presently 81.40%.

Insider Buying and Selling

In related news, Treasurer Adam W. Woodard sold 1,229 shares of the business’s stock in a transaction that occurred on 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 transaction, the treasurer now owns 1,560 shares in the company, valued at approximately $92,944.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Spire news, insider Joseph B. Hampton sold 1,294 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $58.13, for a total transaction of $75,220.22. Following the sale, the insider now owns 6,768 shares of the company’s stock, valued at approximately $393,423.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Treasurer Adam W. Woodard sold 1,229 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $59.58, for a total transaction of $73,223.82. Following 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.

Institutional Trading of Spire

Large investors have recently bought and sold shares of the stock. Quarry LP grew its position in Spire by 817.5% during the 2nd quarter. Quarry LP now owns 578 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 515 shares during the last quarter. Cohen & Steers Inc. grew its position in Spire by 31.8% during the 1st quarter. Cohen & Steers Inc. now owns 639 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 154 shares during the last quarter. Fifth Third Bancorp grew its position in Spire by 81.9% during the 3rd quarter. Fifth Third Bancorp now owns 644 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 290 shares during the last quarter. Signaturefd LLC grew its position in Spire by 34.4% during the 4th quarter. Signaturefd LLC now owns 887 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 227 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in Spire by 159.2% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,003 shares of the utilities provider’s stock worth $70,000 after purchasing an additional 616 shares during the last quarter. Hedge funds and other institutional investors own 87.36% 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.