Sempra (NYSE:SRE) Issues 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 Price Performance

Shares of NYSE:SRE traded up $1.74 during midday trading on Friday, reaching $91.50. 1,846,101 shares of the company were exchanged, compared to its average volume of 2,886,927. The stock has a market cap of $57.93 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 2.82 and a beta of 0.75. Sempra has a one year low of $66.40 and a one year high of $91.88. The business’s fifty day moving average is $83.26 and its two-hundred day moving average is $79.00. 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 issued 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 business had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period last year, the firm earned $1.08 EPS. The business’s quarterly revenue was down 16.7% on a year-over-year basis. As a group, analysts predict that Sempra will post 4.77 earnings per share for the current year.

Sempra Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently commented on SRE shares. Jefferies Financial Group began coverage on Sempra in a research report on Thursday, October 24th. They issued a “buy” rating and a $98.00 target price on the stock. BMO Capital Markets boosted their target price on shares of Sempra from $93.00 to $96.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Morgan Stanley increased their price target on 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 issued a “buy” rating and a $94.00 price objective for the company. Finally, Wells Fargo & Company lifted their price target on Sempra from $87.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Sempra presently has an average rating of “Moderate Buy” and a consensus price target of $89.00.

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.