Sempra (NYSE:SRE) Releases FY24 Earnings Guidance

Sempra (NYSE:SRE) updated its FY24 earnings guidance on Wednesday. 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 Price Performance

Shares of NYSE SRE traded up $1.83 during mid-day trading on Friday, reaching $91.59. The company’s stock had a trading volume of 1,964,326 shares, compared to its average volume of 2,887,472. The stock has a fifty day moving average of $83.26 and a two-hundred day moving average of $79.00. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.52 and a quick ratio of 0.41. Sempra has a 52 week low of $66.40 and a 52 week high of $91.88. The firm has a market capitalization of $57.99 billion, a PE ratio of 20.22, a P/E/G ratio of 2.82 and a beta of 0.75.

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

Sempra Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 5th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.71%. Sempra’s dividend payout ratio is presently 54.63%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SRE shares. Barclays upped their target price on Sempra from $87.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Evercore ISI increased their target price on shares of Sempra from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday. Jefferies Financial Group assumed coverage on shares of Sempra in a report on Thursday, October 24th. They issued a “buy” rating and a $98.00 price target on the stock. Morgan Stanley raised their price objective on Sempra from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Bank of America initiated coverage on Sempra in a research report on Thursday, September 12th. They set a “buy” rating and a $94.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.