Brokerages Anticipate Atmos Energy Co. (NYSE:ATO) Will Post Quarterly Sales of $762.58 Million

Brokerages forecast that Atmos Energy Co. (NYSE:ATOGet Rating) will post $762.58 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Atmos Energy’s earnings, with the lowest sales estimate coming in at $759.82 million and the highest estimate coming in at $765.33 million. Atmos Energy posted sales of $605.55 million in the same quarter last year, which suggests a positive year-over-year growth rate of 25.9%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Atmos Energy will report full year sales of $4.05 billion for the current financial year, with estimates ranging from $3.94 billion to $4.15 billion. For the next fiscal year, analysts anticipate that the company will report sales of $4.49 billion, with estimates ranging from $4.32 billion to $4.66 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Atmos Energy.

Atmos Energy (NYSE:ATOGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The utilities provider reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.02. Atmos Energy had a net margin of 18.91% and a return on equity of 8.80%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the firm earned $2.30 earnings per share. The firm’s revenue was up 25.1% on a year-over-year basis.

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Atmos Energy from $119.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, January 19th. Credit Suisse Group started coverage on shares of Atmos Energy in a research report on Monday, April 25th. They issued an “outperform” rating and a $133.00 price objective on the stock. StockNews.com raised shares of Atmos Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. Morgan Stanley lifted their price objective on shares of Atmos Energy from $139.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 26th. Finally, Mizuho lifted their price objective on shares of Atmos Energy from $119.00 to $131.00 in a research report on Friday, April 29th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Atmos Energy presently has a consensus rating of “Buy” and a consensus price target of $121.22.

Shares of ATO traded up $0.59 during trading hours on Tuesday, reaching $113.75. 1,037,341 shares of the stock traded hands, compared to its average volume of 1,130,168. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 0.64. The stock has a fifty day simple moving average of $116.67 and a 200 day simple moving average of $107.01. Atmos Energy has a 52 week low of $85.80 and a 52 week high of $122.96. The company has a market cap of $15.81 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 2.80 and a beta of 0.48.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 6th. Stockholders of record on Monday, May 23rd will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, May 20th. Atmos Energy’s dividend payout ratio (DPR) is currently 50.56%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Walleye Capital LLC purchased a new position in Atmos Energy during the first quarter valued at approximately $2,760,000. Virtu Financial LLC purchased a new position in Atmos Energy during the first quarter valued at approximately $447,000. Beacon Pointe Advisors LLC grew its stake in Atmos Energy by 618.7% during the first quarter. Beacon Pointe Advisors LLC now owns 19,951 shares of the utilities provider’s stock valued at $2,384,000 after acquiring an additional 17,175 shares in the last quarter. Royal Bank of Canada grew its stake in Atmos Energy by 635.0% during the first quarter. Royal Bank of Canada now owns 429,182 shares of the utilities provider’s stock valued at $51,282,000 after acquiring an additional 370,789 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Atmos Energy during the first quarter valued at approximately $321,000. 87.44% of the stock is currently owned by institutional investors.

About Atmos Energy (Get Rating)

Atmos Energy Corporation, together with its subsidiaries, engages in the regulated natural gas distribution, and pipeline and storage businesses in the United States. It operates through two segments, Distribution, and Pipeline and Storage. The Distribution segment is involved in the regulated natural gas distribution and related sales operations in eight states.

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