Zacks Research Research Analysts Cut Earnings Estimates for Spire Inc. (NYSE:SR)

Spire Inc. (NYSE:SR - Free Report) - Investment analysts at Zacks Research lowered their Q3 2024 EPS estimates for Spire in a note issued to investors on Wednesday, April 17th. Zacks Research analyst R. Department now expects that the utilities provider will earn ($0.34) per share for the quarter, down from their prior forecast of ($0.31). The consensus estimate for Spire's current full-year earnings is $4.35 per share. Zacks Research also issued estimates for Spire's Q4 2024 earnings at ($0.61) EPS, FY2024 earnings at $4.35 EPS, Q3 2025 earnings at ($0.29) EPS, Q4 2025 earnings at ($0.42) EPS and Q1 2026 earnings at $1.41 EPS.

A number of other equities research analysts have also issued reports on the stock. Royal Bank of Canada reissued a "sector perform" rating and issued a $65.00 price objective on shares of Spire in a report on Tuesday. UBS Group assumed coverage on shares of Spire in a report on Friday, April 12th. They issued a "buy" rating and a $68.00 price objective for the company. Finally, Mizuho dropped their price objective on shares of Spire from $66.00 to $64.00 and set a "buy" rating for the company in a report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $62.25.

Spire Price Performance

Shares of NYSE SR traded up $1.51 during mid-day trading on Friday, reaching $60.91. The company's stock had a trading volume of 477,161 shares, compared to its average volume of 506,115. The stock has a 50-day moving average of $59.76 and a two-hundred day moving average of $59.81. The stock has a market capitalization of $3.35 billion, a P/E ratio of 16.42, a P/E/G ratio of 2.68 and a beta of 0.51. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.43 and a current ratio of 0.55. Spire has a 1-year low of $53.77 and a 1-year high of $70.60.

Spire (NYSE:SR - Get Free Report) last issued its earnings results on Thursday, February 1st. The utilities provider reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.10. The business had revenue of $756.60 million during the quarter, compared to analysts' expectations of $688.88 million. Spire had a net margin of 8.11% and a return on equity of 8.27%. The company's quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.55 earnings per share.

Spire Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 11th were paid a dividend of $0.755 per share. This represents a $3.02 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend was Friday, March 8th. Spire's dividend payout ratio (DPR) is presently 81.40%.

Insiders Place Their Bets

In other Spire news, insider Joseph B. Hampton sold 1,294 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $58.13, for a total transaction of $75,220.22. Following the completion of the transaction, the insider now owns 6,768 shares of the company's stock, valued at $393,423.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Treasurer Adam W. Woodard sold 1,229 shares of the firm's 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 transaction, the treasurer now owns 1,560 shares of the company's stock, valued at $92,944.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Joseph B. Hampton sold 1,294 shares of the firm's stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $58.13, for a total transaction of $75,220.22. Following the completion of the transaction, the insider now directly owns 6,768 shares of the company's stock, valued at approximately $393,423.84. The disclosure for this sale can be found here. 2.86% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. raised its holdings in Spire by 2.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,345 shares of the utilities provider's stock worth $384,000 after purchasing an additional 142 shares in the last quarter. Cohen & Steers Inc. raised its holdings in Spire by 31.8% during the first quarter. Cohen & Steers Inc. now owns 639 shares of the utilities provider's stock worth $46,000 after purchasing an additional 154 shares in the last quarter. Congress Asset Management Co. MA raised its holdings in Spire by 0.3% during the fourth quarter. Congress Asset Management Co. MA now owns 64,144 shares of the utilities provider's stock worth $3,999,000 after purchasing an additional 167 shares in the last quarter. Osaic Holdings Inc. raised its holdings in Spire by 2.0% during the second quarter. Osaic Holdings Inc. now owns 9,888 shares of the utilities provider's stock worth $627,000 after purchasing an additional 190 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in Spire by 3.4% during the first quarter. Federated Hermes Inc. now owns 6,073 shares of the utilities provider's stock worth $436,000 after purchasing an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company's stock.

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.