Shares of The Laclede Group Inc. (NYSE:SR) have been assigned an average rating of “Hold” from the eight brokerages that are covering the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $65.67.
Several research analysts have weighed in on the company. TheStreet upgraded The Laclede Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 28th. Zacks Investment Research upgraded The Laclede Group from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Wednesday, July 6th. Wells Fargo & Co. lowered The Laclede Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 6th. Finally, Ladenburg Thalmann began coverage on The Laclede Group in a report on Friday, August 19th. They issued a “neutral” rating and a $69.00 price target on the stock.
The Laclede Group (NYSE:SR) traded down 1.69% on Tuesday, reaching $60.04. 80,612 shares of the company’s stock were exchanged. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 18.84 and a beta of 0.32. The firm has a 50 day moving average of $64.26 and a 200-day moving average of $66.10. The Laclede Group has a one year low of $54.33 and a one year high of $71.21.
The Laclede Group (NYSE:SR) last posted its earnings results on Wednesday, August 3rd. The company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.06. The firm had revenue of $249.30 million for the quarter, compared to analyst estimates of $290.50 million. The Laclede Group had a return on equity of 8.84% and a net margin of 9.55%. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. Equities research analysts forecast that The Laclede Group will post $3.42 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Monday, September 12th were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date was Thursday, September 8th. The Laclede Group’s dividend payout ratio is currently 61.25%.
About The Laclede Group
Spire Inc, formerly The Laclede Group, Inc is a public utility holding company for Laclede Gas Company (Laclede Gas or the Missouri Utilities). It operates through two segments: Gas Utility and Gas Marketing. The Gas Utility segment includes the regulated operations of Laclede Gas and Alabama Gas Corporation (Alagasco or the Alabama Utility) (collectively, the Utilities).
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