Spire (NYSE:SR) Updates FY24 Earnings Guidance

Spire (NYSE:SR) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.15-4.25 for the period, compared to the consensus earnings per share estimate of $4.32. Spire also updated its FY 2024 guidance to 4.150-4.250 EPS.

Spire Stock Performance

NYSE SR traded down $0.16 on Friday, reaching $66.11. 609,631 shares of the company’s stock traded hands, compared to its average volume of 390,352. The stock has a 50 day moving average price of $61.64 and a 200-day moving average price of $60.61. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 3.15 and a beta of 0.51. Spire has a fifty-two week low of $53.77 and a fifty-two week high of $68.02. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.48 and a current ratio of 0.48.

Spire (NYSE:SR) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. The business had revenue of $414.10 million during the quarter, compared to the consensus estimate of $313.86 million. Spire had a net margin of 9.40% and a return on equity of 8.10%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.42) earnings per share. Equities research analysts predict that Spire will post 4.2 EPS for the current fiscal year.

Spire Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be given a $0.755 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $3.02 dividend on an annualized basis and a dividend yield of 4.57%. Spire’s dividend payout ratio (DPR) is currently 76.26%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Spire in a research report on Friday, April 26th. They set a neutral rating and a $57.50 price target for the company. Wells Fargo & Company upped their price target on shares of Spire from $64.00 to $66.00 and gave the stock an equal weight rating in a research report on Thursday, May 2nd. Stifel Nicolaus upped their price target on shares of Spire from $64.00 to $70.00 and gave the stock a hold rating in a research report on Thursday. StockNews.com upgraded shares of Spire from a sell rating to a hold rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada restated a sector perform rating and set a $65.00 price target on shares of Spire in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average target price of $62.50.

Insider Activity at Spire

In other Spire news, EVP Steven P. Rasche acquired 4,500 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was bought at an average price of $23.83 per share, with a total value of $107,235.00. Following the purchase, the executive vice president now owns 16,500 shares in the company, valued at $393,195. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.86% of the stock is owned by corporate insiders.

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.