Q3 2017 EPS Estimates for Southern Company (The) Decreased by KeyCorp (SO)

Southern Company (The) (NYSE:SO) – Equities researchers at KeyCorp cut their Q3 2017 earnings per share estimates for Southern Company (The) in a research note issued to investors on Wednesday. KeyCorp analyst P. Ridzon now anticipates that the utilities provider will post earnings per share of $1.08 for the quarter, down from their previous estimate of $1.10. KeyCorp currently has a “Hold” rating on the stock.

Southern Company (The) (NYSE:SO) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.23 billion. Southern Company (The) had a return on equity of 11.30% and a net margin of 2.93%. The firm’s quarterly revenue was up 21.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share.

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Other equities analysts also recently issued reports about the stock. Credit Suisse Group raised shares of Southern Company (The) from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 3rd. SunTrust Banks, Inc. reissued a “hold” rating and set a $52.00 target price on shares of Southern Company (The) in a research report on Friday. BidaskClub downgraded shares of Southern Company (The) from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Jefferies Group LLC restated a “buy” rating and set a $55.00 price target on shares of Southern Company (The) in a report on Wednesday, July 19th. Finally, Citigroup Inc. upped their price target on shares of Southern Company (The) from $42.00 to $43.00 and gave the company a “sell” rating in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. Southern Company (The) has an average rating of “Hold” and a consensus price target of $49.63.

Southern Company (NYSE SO) opened at 52.00 on Friday. Southern Company has a 1-year low of $46.20 and a 1-year high of $52.23. The firm has a market cap of $51.97 billion, a PE ratio of 85.53 and a beta of 0.13. The company has a 50 day moving average price of $49.75 and a 200 day moving average price of $49.40.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 6th. Investors of record on Monday, November 20th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 4.46%. The ex-dividend date is Friday, November 17th. Southern Company (The)’s payout ratio is presently 346.27%.

In related news, CEO William P. Bowers sold 85,151 shares of the stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $50.00, for a total value of $4,257,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christopher C. Womack sold 75,144 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $49.29, for a total transaction of $3,703,847.76. Following the completion of the sale, the executive vice president now owns 85,298 shares of the company’s stock, valued at approximately $4,204,338.42. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC bought a new stake in shares of Southern Company (The) in the second quarter valued at about $100,000. Symmetry Partners LLC acquired a new position in Southern Company (The) in the first quarter worth about $103,000. Stuart Chaussee & Associates Inc. raised its position in Southern Company (The) by 358.8% in the first quarter. Stuart Chaussee & Associates Inc. now owns 2,225 shares of the utilities provider’s stock worth $111,000 after purchasing an additional 1,740 shares in the last quarter. IHT Wealth Management LLC raised its position in Southern Company (The) by 15.3% in the first quarter. IHT Wealth Management LLC now owns 2,281 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 302 shares in the last quarter. Finally, Monroe Bank & Trust MI raised its position in Southern Company (The) by 17.9% in the second quarter. Monroe Bank & Trust MI now owns 2,300 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 350 shares in the last quarter. Institutional investors and hedge funds own 53.26% of the company’s stock.

Southern Company (The) Company Profile

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

Earnings History and Estimates for Southern Company (The) (NYSE:SO)

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