Spire Inc. (NYSE:SR) will release earnings results for the fourth quarter, before the opening bell on Friday, Nov. 14.
Analysts expect the company to report a quarterly loss of 38 cents per share, versus a year-ago loss of 54 cents per share. The consensus estimate for Spire's quarterly revenue is $439.56 million. Benzinga Pro data shows $293.8 million in quarterly revenue a year ago.
On Oct. 29, Bank of America Securities analyst Ross Fowler upgraded Spire from Underperform to Neutral and raised the price target from $76 to $89.
With the recent buzz around Spire, some investors may be eyeing potential gains from the company's dividends. As of now, Spire offers an annual dividend yield of 3.47%. That’s a quarterly dividend amount of 79 cents per share ($3.14 a year).
To figure out how to earn $500 monthly from Spire, we start with the yearly target of $6,000 ($500 x 12 months).
Next, we divide this amount by Spire's $3.14 dividend: $6,000 / $3.14 = 1,911 shares.
So, an investor would need to own approximately $173,041 worth of Spire, or 1,911 shares to generate a monthly dividend income of $500.
Assuming a more conservative goal of $100 monthly ($1,200 annually), we do the same calculation: $1,200 / $3.14 = 382 shares, or $34,590 to generate a monthly dividend income of $100.
Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.
The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change.
For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60).
Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40).
Further, the dividend payment itself can also change over time, which can also impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company decreases its dividend payment, the dividend yield will decrease.
SR Price Action: Shares of Spire fell by 0.2% to close at $90.55 on Wednesday.
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