Brokerages Expect RGC Resources Inc. (NASDAQ:RGCO) to Post $0.14 Earnings Per Share

Brokerages forecast that RGC Resources Inc. (NASDAQ:RGCO) will announce earnings per share of $0.14 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for RGC Resources’ earnings, with the highest EPS estimate coming in at $0.14 and the lowest estimate coming in at $0.13. RGC Resources also reported earnings per share of $0.14 in the same quarter last year. The company is expected to announce its next quarterly earnings results on Wednesday, August 7th.

On average, analysts expect that RGC Resources will report full year earnings of $1.06 per share for the current financial year, with EPS estimates ranging from $1.05 to $1.07. For the next fiscal year, analysts expect that the firm will post earnings of $1.11 per share. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for RGC Resources.

RGC Resources (NASDAQ:RGCO) last posted its earnings results on Monday, April 29th. The energy company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.10. RGC Resources had a return on equity of 10.93% and a net margin of 12.99%. The company had revenue of $25.28 million for the quarter, compared to the consensus estimate of $25.60 million.

A number of research analysts have weighed in on the company. Zacks Investment Research raised RGC Resources from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Tuesday, May 14th. Janney Montgomery Scott raised RGC Resources from a “neutral” rating to a “buy” rating in a report on Friday, May 10th.

In other RGC Resources news, CEO Orazio John S. D sold 3,000 shares of the stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $27.25, for a total value of $81,750.00. Following the transaction, the chief executive officer now owns 44,034 shares of the company’s stock, valued at $1,199,926.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders acquired 167 shares of company stock worth $4,482. 7.30% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of RGCO. Vanguard Group Inc. raised its stake in shares of RGC Resources by 1.0% in the third quarter. Vanguard Group Inc. now owns 290,295 shares of the energy company’s stock worth $7,754,000 after buying an additional 2,952 shares during the period. Rhumbline Advisers bought a new position in shares of RGC Resources in the fourth quarter worth about $312,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of RGC Resources in the fourth quarter worth about $218,000. BlackRock Inc. raised its stake in shares of RGC Resources by 3.3% in the fourth quarter. BlackRock Inc. now owns 368,030 shares of the energy company’s stock worth $11,025,000 after buying an additional 11,702 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of RGC Resources by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 112,821 shares of the energy company’s stock worth $3,380,000 after buying an additional 2,577 shares during the period.

RGCO stock traded down $0.41 during trading on Tuesday, reaching $28.14. The stock had a trading volume of 4,627 shares, compared to its average volume of 6,729. RGC Resources has a 52 week low of $24.16 and a 52 week high of $31.33. The firm’s 50 day moving average is $27.16. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.73 and a current ratio of 0.86. The company has a market capitalization of $226.56 million, a price-to-earnings ratio of 29.62 and a beta of -0.28.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 15th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Friday, July 12th. RGC Resources’s dividend payout ratio is 16.84%.

About RGC Resources

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. The company sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. It also provides various unregulated services. The company operates approximately 1,141 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates 8 metering stations.

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