Zacks: Analysts Expect Atmos Energy Co. (ATO) Will Post Quarterly Sales of $642.38 Million

Equities analysts expect that Atmos Energy Co. (NYSE:ATO) will announce $642.38 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Atmos Energy’s earnings. The highest sales estimate is $700.95 million and the lowest is $583.80 million. Atmos Energy reported sales of $464.88 million in the same quarter last year, which indicates a positive year-over-year growth rate of 38.2%. The company is expected to announce its next quarterly earnings results after the market closes on Wednesday, November 7th.

On average, analysts expect that Atmos Energy will report full-year sales of $3.29 billion for the current financial year, with estimates ranging from $3.23 billion to $3.37 billion. For the next year, analysts anticipate that the business will post sales of $3.65 billion, with estimates ranging from $3.52 billion to $3.83 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Atmos Energy.

Atmos Energy (NYSE:ATO) last issued its quarterly earnings data on Wednesday, August 8th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.04). The company had revenue of $562.25 million during the quarter, compared to analysts’ expectations of $622.30 million. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 earnings per share.

ATO has been the subject of several recent research reports. Barclays raised their price target on Atmos Energy from $80.00 to $90.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 11th. Morgan Stanley raised their price target on Atmos Energy from $91.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, July 16th. Zacks Investment Research downgraded Atmos Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. Seaport Global Securities reaffirmed a “buy” rating and issued a $98.00 price objective on shares of Atmos Energy in a research report on Thursday, August 16th. Finally, ValuEngine raised Atmos Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $94.38.

In related news, Director Nancy K. Quinn sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $93.05, for a total value of $186,100.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Richard W. Douglas sold 35,000 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $93.04, for a total value of $3,256,400.00. Following the completion of the transaction, the insider now owns 6,292 shares in the company, valued at approximately $585,407.68. The disclosure for this sale can be found here. Insiders own 1.41% of the company’s stock.

Several large investors have recently added to or reduced their stakes in ATO. Qube Research & Technologies Ltd acquired a new position in shares of Atmos Energy in the second quarter worth about $111,000. NEXT Financial Group Inc acquired a new position in shares of Atmos Energy in the third quarter worth about $115,000. Rockland Trust Co. acquired a new position in shares of Atmos Energy in the third quarter worth about $201,000. Eagle Global Advisors LLC acquired a new position in shares of Atmos Energy in the second quarter worth about $207,000. Finally, Carnegie Capital Asset Management LLC acquired a new position in shares of Atmos Energy in the second quarter worth about $209,000. Institutional investors and hedge funds own 74.54% of the company’s stock.

Atmos Energy stock traded down $1.33 during mid-day trading on Wednesday, hitting $93.47. 9,619 shares of the company were exchanged, compared to its average volume of 405,536. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.22 and a current ratio of 0.31. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 3.39 and a beta of 0.09. Atmos Energy has a 12-month low of $76.46 and a 12-month high of $98.40.

About Atmos Energy

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 Distribution, and Pipeline and Storage segments. The Distribution segment is involved in regulated natural gas distribution, and related sales and storage operations.

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