Market Overview

UPDATE: BMO Capital Markets Reiterates on The Southern Company Following Adjusted 3Q13 EPS Report

Related SO
Must Watch Stocks for October 31, 2016
Earnings Scheduled For October 31, 2016
The Most And Least Loved Stocks In The S&P 500 (Seeking Alpha)

In a report published Thursday, BMO Capital Markets analyst Michael S. Worms reiterated a Market Perform rating on The Southern Company (NYSE: SO), but lowered the price target from $45.00 to $43.00.

In the report, BMO Capital Markets noted, “SO reported adjusted 3Q13 EPS of $1.08 versus $1.11 in 3Q12 (consensus $1.11), with the decline largely reflecting unfavorable weather (-$0.07 from 3Q12/-$0.10 from normal). Results in 3Q13 exclude a charge of $0.11 for increased construction estimate for Kemper County IGCC. YTD charges against Kemper total $0.81 ($1.14 billion pretax). SO delayed the completion date for the project to 4Q14 (from 5/14) and indicated further delays/charges are possible. SO is absorbing construction costs for Kemper beyond the $2.88 billion cost cap (estimate $4.02 billion, from $3.87 billion at 2Q13).”

The Southern Company closed on Wednesday at $41.90.

Latest Ratings for SO

Sep 2016SunTrust Robinson HumphreyMaintainsNeutral
Sep 2016SunTrust Robinson HumphreyMaintainsNeutral
Aug 2016SunTrust Robinson HumphreyMaintainsNeutral

View More Analyst Ratings for SO
View the Latest Analyst Ratings

Posted-In: BMO Capital Markets Michael S. WormsAnalyst Color Price Target Analyst Ratings


Related Articles (SO)

View Comments and Join the Discussion!