Q2 2024 EPS Estimates for The Southern Company Cut by Analyst (NYSE:SO)

The Southern Company (NYSE:SO) – Research analysts at Zacks Research reduced their Q2 2024 EPS estimates for Southern in a research note issued to investors on Wednesday, April 10th. Zacks Research analyst T. Saha now expects that the utilities provider will post earnings of $0.90 per share for the quarter, down from their prior estimate of $0.92. The consensus estimate for Southern’s current full-year earnings is $4.00 per share. Zacks Research also issued estimates for Southern’s Q4 2024 earnings at $0.70 EPS, Q1 2025 earnings at $1.24 EPS and Q4 2025 earnings at $0.79 EPS.

Southern (NYSE:SO) last posted its quarterly earnings data on Thursday, February 15th. The utilities provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $6.90 billion. Southern had a return on equity of 11.40% and a net margin of 15.79%. The firm’s revenue for the quarter was down 14.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 earnings per share.

Other analysts have also issued reports about the stock. Wells Fargo & Company decreased their price target on shares of Southern from $75.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Friday, February 16th. UBS Group cut Southern from a “buy” rating to a “neutral” rating and cut their price target for the company from $78.00 to $76.00 in a report on Thursday, April 4th. Royal Bank of Canada reissued an “outperform” rating and set a $80.00 price objective on shares of Southern in a report on Wednesday, February 21st. Mizuho upped their target price on Southern from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $76.00 target price (up from $72.00) on shares of Southern in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $74.14.

Southern Stock Down 1.2 %

Shares of SO stock opened at $68.73 on Friday. The stock has a 50 day moving average of $68.76 and a 200-day moving average of $68.89. The firm has a market cap of $75.23 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 4.36 and a beta of 0.49. The company has a quick ratio of 0.56, a current ratio of 0.77 and a debt-to-equity ratio of 1.62. Southern has a 12 month low of $61.56 and a 12 month high of $75.80.

Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend was Friday, February 16th. Southern’s dividend payout ratio (DPR) is currently 77.14%.

Insider Activity at Southern

In other news, insider David P. Poroch sold 10,099 shares of Southern stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $69.96, for a total value of $706,526.04. Following the completion of the transaction, the insider now owns 28,691 shares in the company, valued at $2,007,222.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Southern news, EVP Christopher Cummiskey sold 899 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $67.06, for a total transaction of $60,286.94. Following the sale, the executive vice president now owns 22,502 shares of the company’s stock, valued at approximately $1,508,984.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David P. Poroch sold 10,099 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $69.96, for a total transaction of $706,526.04. Following the completion of the transaction, the insider now directly owns 28,691 shares of the company’s stock, valued at $2,007,222.36. The disclosure for this sale can be found here. Insiders sold 20,998 shares of company stock valued at $1,446,113 in the last ninety days. Insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SO. VisionPoint Advisory Group LLC acquired a new stake in shares of Southern in the 2nd quarter valued at $27,000. Intrepid Capital Management Inc. bought a new position in Southern in the second quarter valued at about $30,000. Voisard Asset Management Group Inc. acquired a new stake in Southern in the fourth quarter worth about $31,000. Scarborough Advisors LLC bought a new stake in Southern during the 4th quarter worth about $31,000. Finally, Versant Capital Management Inc boosted its stake in shares of Southern by 62.0% in the 1st quarter. Versant Capital Management Inc now owns 444 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 170 shares during the last quarter. Institutional investors own 64.10% of the company’s stock.

About Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.