Spire Inc (NYSE:SR) Expected to Post Quarterly Sales of $243.88 Million

Wall Street brokerages forecast that Spire Inc (NYSE:SR) will post sales of $243.88 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Spire’s earnings, with the highest sales estimate coming in at $260.73 million and the lowest estimate coming in at $227.03 million. Spire posted sales of $239.20 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 21st.

According to Zacks, analysts expect that Spire will report full year sales of $1.99 billion for the current year, with estimates ranging from $1.95 billion to $2.00 billion. For the next year, analysts anticipate that the company will post sales of $1.99 billion, with estimates ranging from $1.70 billion to $2.16 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Spire.

Spire (NYSE:SR) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.03). The company had revenue of $321.30 million for the quarter, compared to analysts’ expectations of $333.14 million. Spire had a net margin of 9.74% and a return on equity of 7.56%. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 EPS.

SR has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Spire from a “sell” rating to a “hold” rating in a research report on Thursday. ValuEngine cut shares of Spire from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Co boosted their price objective on shares of Spire from $89.00 to $90.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Spire presently has a consensus rating of “Hold” and an average target price of $84.50.

In other news, EVP Steven P. Rasche bought 1,825 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price of $27.33 per share, for a total transaction of $49,877.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP lifted its stake in shares of Spire by 1.3% in the first quarter. First Trust Advisors LP now owns 388,850 shares of the utilities provider’s stock worth $31,998,000 after buying an additional 5,011 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Spire by 3.3% during the first quarter. Nordea Investment Management AB now owns 71,426 shares of the utilities provider’s stock valued at $5,878,000 after purchasing an additional 2,300 shares during the last quarter. MetLife Investment Advisors LLC raised its holdings in shares of Spire by 147.3% during the first quarter. MetLife Investment Advisors LLC now owns 51,813 shares of the utilities provider’s stock valued at $4,264,000 after purchasing an additional 30,861 shares during the last quarter. Metropolitan Life Insurance Co NY raised its holdings in shares of Spire by 77.8% during the first quarter. Metropolitan Life Insurance Co NY now owns 28,337 shares of the utilities provider’s stock valued at $2,331,000 after purchasing an additional 12,399 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Spire by 19.7% during the first quarter. FMR LLC now owns 821,696 shares of the utilities provider’s stock valued at $67,617,000 after purchasing an additional 135,051 shares during the last quarter. Hedge funds and other institutional investors own 79.27% of the company’s stock.

NYSE:SR traded down $0.16 during trading hours on Friday, reaching $84.09. The company’s stock had a trading volume of 504 shares, compared to its average volume of 208,669. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 3.97 and a beta of 0.17. The firm has a 50-day simple moving average of $85.59 and a 200-day simple moving average of $84.12. Spire has a 1 year low of $70.53 and a 1 year high of $88.00. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.40 and a current ratio of 0.53.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th were paid a dividend of $0.592 per share. This represents a $2.37 annualized dividend and a yield of 2.82%. The ex-dividend date was Tuesday, September 10th. Spire’s payout ratio is currently 63.71%.

Spire Company Profile

Spire Inc, through 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 two segments, Gas Utility and Gas Marketing. It is also involved in marketing natural gas; and provision of energy services on non-regulated basis to on-system utility transportation customers, as well as to retail and wholesale customers.

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