Sempra (NYSE:SRE) Releases FY24 Earnings Guidance

Sempra (NYSE:SRE) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.60-4.90 for the period, compared to the consensus estimate of $4.77. Sempra also updated its FY25 guidance to $4.90-5.25 EPS.

Sempra Price Performance

Sempra stock opened at $82.22 on Wednesday. Sempra has a 12-month low of $66.40 and a 12-month high of $86.57. The stock has a market cap of $52.06 billion, a P/E ratio of 17.57, a PEG ratio of 2.61 and a beta of 0.75. The company has a 50-day moving average price of $83.12 and a 200 day moving average price of $78.93. The company has a current ratio of 0.46, a quick ratio of 0.41 and a debt-to-equity ratio of 0.84.

Sempra (NYSE:SRE) last released its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.03). Sempra had a return on equity of 8.58% and a net margin of 22.31%. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the previous year, the business posted $0.94 earnings per share. Sempra’s revenue for the quarter was down 9.7% on a year-over-year basis. Sell-side analysts anticipate that Sempra will post 4.77 earnings per share for the current year.

Sempra Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, September 26th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Thursday, September 26th. Sempra’s dividend payout ratio is presently 52.99%.

Wall Street Analyst Weigh In

Several research firms have recently commented on SRE. Jefferies Financial Group began coverage on shares of Sempra in a research note on Thursday, October 24th. They issued a “buy” rating and a $98.00 price objective for the company. Morgan Stanley lifted their price target on shares of Sempra from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Barclays lifted their price target on shares of Sempra from $87.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. BMO Capital Markets boosted their price objective on shares of Sempra from $93.00 to $96.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, Bank of America started coverage on shares of Sempra in a research report on Thursday, September 12th. They set a “buy” rating and a $94.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $87.55.

About Sempra

Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County.