Southern (NYSE:SO) Releases FY19 Earnings Guidance

Southern (NYSE:SO) updated its FY19 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.98-3.10 for the period, compared to the Thomson Reuters consensus estimate of $3.03. Southern also updated its Q3 guidance to $1.10 EPS.

Shares of NYSE SO traded up $0.59 during mid-day trading on Wednesday, reaching $55.89. 1,009,644 shares of the company were exchanged, compared to its average volume of 3,342,063. Southern has a 52 week low of $42.50 and a 52 week high of $57.08. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 1.37. The stock has a market cap of $57.99 billion, a PE ratio of 18.20, a PEG ratio of 4.10 and a beta of 0.20. The stock has a 50 day moving average of $55.68.

Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.70. Southern had a net margin of 15.03% and a return on equity of 10.37%. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the previous year, the firm posted $0.88 EPS. The firm’s revenue was down 15.1% compared to the same quarter last year. Equities analysts anticipate that Southern will post 3.02 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Monday, August 19th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date is Friday, August 16th. Southern’s dividend payout ratio is currently 80.78%.

A number of equities analysts recently commented on the stock. ValuEngine cut shares of Yext from a strong-buy rating to a buy rating in a research report on Friday, May 10th. Evercore ISI upgraded shares of Southern from an in-line rating to an outperform rating in a research report on Friday, May 3rd. KeyCorp assumed coverage on shares of Southern in a research report on Tuesday, June 4th. They issued a sector weight rating on the stock. Barclays reiterated a top pick rating and issued a GBX 3,250 ($42.47) target price on shares of in a research report on Wednesday, June 19th. Finally, Mizuho lifted their target price on shares of Southern from $48.50 to $55.00 and gave the stock a neutral rating in a research report on Thursday, June 13th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $50.09.

In related news, insider Ann P. Daiss sold 7,850 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $54.06, for a total transaction of $424,371.00. Following the sale, the insider now owns 17,862 shares of the company’s stock, valued at $965,619.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ann P. Daiss sold 3,786 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $54.42, for a total transaction of $206,034.12. Following the sale, the insider now directly owns 13,798 shares in the company, valued at approximately $750,887.16. The disclosure for this sale can be found here. Insiders have sold 750,397 shares of company stock worth $41,266,682 in the last quarter. 0.88% of the stock is owned by corporate insiders.

Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.

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Earnings History and Estimates for Southern (NYSE:SO)

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