Spire (NYSE:SR) Issues Quarterly Earnings Results, Misses Expectations By $0.41 EPS

Spire (NYSE:SR) announced its earnings results on Wednesday. The utilities provider reported $3.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.86 by ($0.41), Briefing.com reports. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.21 billion. Spire had a net margin of 8.11% and a return on equity of 8.27%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.70 earnings per share. Spire updated its FY24 guidance to $4.25 to $4.45 EPS and its FY 2024 guidance to 4.250-4.450 EPS.

Spire Stock Down 0.4 %

Shares of NYSE:SR traded down $0.22 during trading on Thursday, reaching $61.68. The stock had a trading volume of 556,618 shares, compared to its average volume of 494,939. Spire has a one year low of $53.77 and a one year high of $69.99. The company has a market capitalization of $3.39 billion, a P/E ratio of 16.69, a PEG ratio of 2.85 and a beta of 0.50. The company has a current ratio of 0.55, a quick ratio of 0.43 and a debt-to-equity ratio of 1.16. The firm’s 50-day simple moving average is $60.14 and its 200 day simple moving average is $60.07.

Spire Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 11th will be issued a $0.755 dividend. This represents a $3.02 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date is Tuesday, June 11th. Spire’s dividend payout ratio is currently 81.40%.

Insider Activity

In related news, insider Joseph B. Hampton sold 1,294 shares of Spire stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $58.13, for a total value of $75,220.22. Following the completion of the sale, the insider now directly owns 6,768 shares in the company, valued at approximately $393,423.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Treasurer Adam W. Woodard sold 1,229 shares of Spire stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $59.58, for a total value of $73,223.82. Following the completion of the sale, the treasurer now directly owns 1,560 shares in the company, valued at approximately $92,944.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph B. Hampton sold 1,294 shares of Spire stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $58.13, for a total transaction of $75,220.22. Following the completion of the sale, the insider now owns 6,768 shares of the company’s stock, valued at $393,423.84. The disclosure for this sale can be found here. Company insiders own 2.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group assumed coverage on shares of Spire in a research report on Friday, April 12th. They issued a “buy” rating and a $68.00 price target for the company. LADENBURG THALM/SH SH assumed coverage on shares of Spire in a research report on Friday, April 26th. They issued a “neutral” rating and a $57.50 price target for the company. Mizuho lowered shares of Spire from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $64.00 to $62.00 in a research report on Thursday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $65.00 price target on shares of Spire in a research report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Spire currently has a consensus rating of “Hold” and an average price target of $61.50.

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.