Southern Co (SO) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $0.74 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.70. The company posted revenue of $4453.00 million in the period, compared to analysts expectations of $4453.23 million. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS.
Many Wall Street Analysts have commented on Southern Co. Goldman Resumed Southern Co on Jul 14, 2016 to “Neutral”, Price Target of the shares are set at $54.Company shares were Upgraded by Barclays on Jul 14, 2016 to ” Overweight”, Firm has raised the Price Target to $ 62 from a previous price target of $59 .Company shares were Reiterated by Mizuho on Jul 12, 2016 to “Neutral”, Firm has raised the Price Target to $ 52 from a previous price target of $50 .
Southern Co closed down -0.28 points or -0.52% at $53.26 with 60,76,855 shares getting traded on Thursday. Post opening the session at $53.53, the shares hit an intraday low of $53.03 and an intraday high of $53.53 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Jul 6, 2016, Kimberly S, Greene (EVP & COO, Southern Co.) sold 141,818 shares at $54.00 per share price. According to the SEC, on Jul 6, 2016, Mark Lantrip (President & CEO, SCS) sold 35,884 shares at $54.00 per share price. On Jul 6, 2016, Art P Beattie (Executive Vice President & CFO) sold 123,207 shares at $54.12 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.