Brokerages Anticipate RGC Resources Inc. (RGCO) Will Announce Earnings of $0.10 Per Share

Equities research analysts predict that RGC Resources Inc. (NASDAQ:RGCO) will post earnings of $0.10 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for RGC Resources’ earnings, with estimates ranging from $0.08 to $0.12. RGC Resources posted earnings of $0.08 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 25%. The firm is scheduled to announce its next earnings report on Monday, July 30th.

According to Zacks, analysts expect that RGC Resources will report full year earnings of $0.91 per share for the current year, with EPS estimates ranging from $0.90 to $0.91. For the next financial year, analysts forecast that the company will report earnings of $1.00 per share. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow RGC Resources.

RGC Resources (NASDAQ:RGCO) last issued its earnings results on Tuesday, May 1st. The energy company reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.12). The business had revenue of $24.92 million for the quarter, compared to the consensus estimate of $23.20 million. RGC Resources had a return on equity of 9.29% and a net margin of 9.65%.

RGCO has been the subject of several recent research reports. Zacks Investment Research upgraded RGC Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, April 11th. Seaport Global Securities initiated coverage on RGC Resources in a research note on Tuesday, April 17th. They issued a “neutral” rating for the company. Janney Montgomery Scott downgraded RGC Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, June 7th. Finally, TheStreet upgraded RGC Resources from a “c+” rating to a “b+” rating in a research note on Friday, March 9th.

RGCO traded up $0.73 during trading on Friday, hitting $28.64. The stock had a trading volume of 35,100 shares, compared to its average volume of 10,589. The company has a market capitalization of $224.55 million, a PE ratio of 33.30 and a beta of -0.06. RGC Resources has a one year low of $22.16 and a one year high of $31.57. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.15 and a quick ratio of 0.97.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 1st. Stockholders of record on Monday, July 16th will be given a dividend of $0.155 per share. The ex-dividend date is Friday, July 13th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.16%. RGC Resources’s payout ratio is 72.09%.

Several large investors have recently added to or reduced their stakes in RGCO. LPL Financial LLC bought a new stake in shares of RGC Resources during the 1st quarter valued at $249,000. Deutsche Bank AG lifted its position in shares of RGC Resources by 140.9% during the 4th quarter. Deutsche Bank AG now owns 15,259 shares of the energy company’s stock valued at $411,000 after acquiring an additional 8,924 shares during the period. Wells Fargo & Company MN lifted its position in shares of RGC Resources by 86.7% during the 4th quarter. Wells Fargo & Company MN now owns 19,201 shares of the energy company’s stock valued at $520,000 after acquiring an additional 8,919 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of RGC Resources by 63.0% during the 1st quarter. Commonwealth Equity Services LLC now owns 22,796 shares of the energy company’s stock valued at $579,000 after acquiring an additional 8,811 shares during the period. Finally, UBS Group AG lifted its position in shares of RGC Resources by 18.0% during the 1st quarter. UBS Group AG now owns 41,556 shares of the energy company’s stock valued at $1,056,000 after acquiring an additional 6,327 shares during the period.

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 1,135 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility located in Botetourt County, as well as owns and operates 8 metering stations.

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