Sempra (NYSE:SRE) Releases FY24 Earnings Guidance

Sempra (NYSE:SRE) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.60-4.90 for the period, compared to the consensus earnings per share estimate of $4.77. Sempra also updated its FY 2024 guidance to 4.600-4.900 EPS.

Sempra Stock Up 2.0 %

Sempra stock traded up $1.83 during midday trading on Friday, reaching $91.59. The stock had a trading volume of 1,964,326 shares, compared to its average volume of 2,887,472. The company has a market capitalization of $57.99 billion, a P/E ratio of 20.22, a PEG ratio of 2.82 and a beta of 0.75. The company has a fifty day moving average price of $83.26 and a two-hundred day moving average price of $79.00. Sempra has a 12 month low of $66.40 and a 12 month high of $91.88. The company has a current ratio of 0.52, a quick ratio of 0.41 and a debt-to-equity ratio of 0.86.

Sempra (NYSE:SRE) last posted its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.17). The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $3.54 billion. Sempra had a net margin of 22.63% and a return on equity of 8.01%. Sempra’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS. As a group, equities analysts expect that Sempra will post 4.77 EPS for the current fiscal year.

Sempra Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 5th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.71%. Sempra’s dividend payout ratio (DPR) is presently 54.63%.

Analysts Set New Price Targets

Several research firms recently weighed in on SRE. Bank of America assumed coverage on shares of Sempra in a research note on Thursday, September 12th. They issued a “buy” rating and a $94.00 target price on the stock. BMO Capital Markets boosted their price target on shares of Sempra from $93.00 to $96.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Jefferies Financial Group began coverage on shares of Sempra in a report on Thursday, October 24th. They issued a “buy” rating and a $98.00 target price on the stock. Wells Fargo & Company increased their price target on shares of Sempra from $87.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Morgan Stanley increased their target price on shares of Sempra from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Sempra presently has an average rating of “Moderate Buy” and a consensus price target of $89.00.

Sempra Company Profile

Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County.