Sempra (NYSE:SRE) Issues FY24 Earnings Guidance

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

Analyst Upgrades and Downgrades

SRE has been the subject of a number of recent research reports. Barclays lifted their price target on shares of Sempra from $87.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Morgan Stanley lifted their price objective on shares of Sempra from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Bank of America began coverage on Sempra in a report on Thursday, September 12th. They set a “buy” rating and a $94.00 price target for the company. Evercore ISI raised their target price on Sempra from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Jefferies Financial Group began coverage on Sempra in a report on Thursday, October 24th. They issued a “buy” rating and a $98.00 price target for the company. One 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 stock. Based on data from MarketBeat, Sempra has an average rating of “Moderate Buy” and an average target price of $89.00.

Sempra Stock Performance

Shares of NYSE:SRE traded up $1.49 during trading on Friday, reaching $91.25. The company had a trading volume of 2,509,931 shares, compared to its average volume of 2,889,986. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.52 and a quick ratio of 0.41. The stock’s fifty day moving average price is $83.26 and its 200 day moving average price is $79.00. Sempra has a fifty-two week low of $66.40 and a fifty-two week high of $91.88. The firm has a market capitalization of $57.77 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 2.82 and a beta of 0.75.

Sempra (NYSE:SRE) last announced its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.89 EPS 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 firm had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the previous year, the company posted $1.08 EPS. The firm’s quarterly revenue was down 16.7% compared to the same quarter last year. As a group, equities research analysts predict that Sempra will post 4.77 EPS for the current year.

Sempra Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 5th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, December 5th. Sempra’s payout ratio is 54.63%.

About Sempra

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.