Southern Co (SO) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $0.58 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.53. The company posted revenue of $3965.00 million in the period, compared to analysts expectations of $4256.32 million. The company’s revenue was down -5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.
Many Wall Street Analysts have commented on Southern Co. Company shares were Reiterated by Argus on Feb 17, 2016 to “Buy”, Firm has raised the Price Target to $ 54 from a previous price target of $50 .
Southern Co opened for trading at $49.18 and hit $49.45 on the upside on Friday, eventually ending the session at $49.26, with a gain of 0.65% or 0.32 points. The heightened volatility saw the trading volume jump to 32,85,104 shares. Company has a market cap of $44,967 M.
In a different news, on Apr 4, 2016, Ann P Daiss (Comptroller) sold 17,830 shares at $51.38 per share price. According to the SEC, on Mar 8, 2016, Ii James Y Kerr, (Executive VP & General Counsel) purchased 1,000 shares at $48.52 per share price. On Feb 5, 2016, Christopher C Womack (EVP & Pres. External Affairs) sold 15,635 shares at $48.30 per share price, according to the Form-4 filing with the securities and exchange commission.
Southern Company is an operating public utility company. The primary business of the Southern Company is electricity sales by the traditional operating companies and Southern Power. Southern Company’s business segments are the sale of electricity by the four traditional operating companies and Southern Power. The four traditional operating companies including Alabama Power Georgia Power Gulf Power and Mississippi Power are vertically integrated utilities providing electric service in four Southeastern states. Southern Company owns all of the common stock of Southern Power Company which is also an operating public utility company. Southern Power constructs acquires owns and manages generation assets including renewable energy projects and sells electricity at market-based rates in the wholesale market. The Company also operates the All Other segment.