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

A number of equities research analysts recently commented on the company. Evercore ISI boosted their target price on Sempra from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday. Wells Fargo & Company boosted their price objective on Sempra from $87.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday. BMO Capital Markets increased their target price on 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 started coverage on shares of Sempra in a research note on Thursday, October 24th. They issued a “buy” rating and a $98.00 price target on the stock. Finally, Bank of America assumed coverage on shares of Sempra in a research report on Thursday, September 12th. They issued a “buy” rating and a $94.00 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, Sempra currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.00.

Sempra Stock Performance

SRE stock 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 market cap 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 has a twelve month low of $66.40 and a twelve month high of $91.88. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.41 and a current ratio of 0.52. The firm has a 50-day simple moving average of $83.26 and a 200-day simple moving average of $79.00.

Sempra (NYSE:SRE) last posted its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.89 EPS 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 analyst estimates of $3.54 billion. Sempra had a return on equity of 8.01% and a net margin of 22.63%. The company’s quarterly revenue was down 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 earnings per share. As a group, sell-side analysts expect that Sempra will post 4.77 earnings per share for the current year.

Sempra Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 5th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.72%. The ex-dividend date 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.