SSE plc (SSE) Issues Quarterly Earnings Results

SSE plc (LON:SSE) posted its quarterly earnings data on Wednesday, November 8th. The company reported GBX 31.20 ($0.41) earnings per share for the quarter, beating the Zacks’ consensus estimate of GBX 30.30 ($0.40) by GBX 0.90 ($0.01), Bloomberg Earnings reports. SSE had a return on equity of 40.09% and a net margin of 6.57%. The business had revenue of GBX 1,218.41 billion during the quarter.

SSE (LON:SSE) traded down GBX 14 ($0.18) on Friday, hitting GBX 1,344 ($17.68). 3,158,986 shares of the stock were exchanged, compared to its average volume of 3,540,000. SSE has a 12-month low of GBX 1,326 ($17.44) and a 12-month high of GBX 1,578 ($20.75).

The company also recently declared a dividend, which will be paid on Friday, March 16th. Stockholders of record on Thursday, January 18th will be given a dividend of GBX 28.40 ($0.37) per share. The ex-dividend date of this dividend is Thursday, January 18th. This represents a dividend yield of 2.09%.

A number of analysts have weighed in on the company. Berenberg Bank decreased their price target on SSE from GBX 1,650 ($21.70) to GBX 1,600 ($21.04) and set a “buy” rating for the company in a report on Thursday. Jefferies Group LLC upgraded SSE to a “buy” rating and raised their target price for the company from GBX 1,400 ($18.41) to GBX 1,700 ($22.36) in a research note on Tuesday. reaffirmed a “buy” rating and issued a GBX 1,530 ($20.12) price target on shares of SSE in a research report on Friday, November 10th. Deutsche Bank AG reaffirmed a “sell” rating and issued a GBX 1,300 ($17.10) price target on shares of SSE in a research report on Thursday, November 9th. Finally, Citigroup Inc. reissued a “neutral” rating and set a GBX 1,388 ($18.26) target price on shares of SSE in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of GBX 1,549.29 ($20.38).

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SSE Company Profile

SSE plc is engaged in producing, distributing and supplying electricity and gas, as well as other energy-related services to homes and businesses in Great Britain and Ireland. The Company’s segments include Networks, which consists of electricity distribution, electricity transmission and gas distribution; Retail, which consists of energy supply, enterprise and energy-related services, and Wholesale, which consists of energy portfolio management and electricity generation, gas storage and gas production.

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