Piedmont Natural Gas
The 10-second takeaway
For the quarter ended Jan. 31 (Q1), Piedmont Natural Gas beat expectations on revenues and beat slightly on earnings per share.
Compared to the prior-year quarter, revenue expanded. GAAP earnings per share grew.
Gross margins dropped, operating margins grew, net margins expanded.
Piedmont Natural Gas tallied revenue of $515.9 million. The three analysts polled by S&P Capital IQ predicted sales of $495.9 million on the same basis. GAAP reported sales were 9.3% higher than the prior-year quarter's $471.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.18. The seven earnings estimates compiled by S&P Capital IQ forecast $1.16 per share. GAAP EPS of $1.18 for Q1 were 12% higher than the prior-year quarter's $1.05 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 34.1%, 20 basis points worse than the prior-year quarter. Operating margin was 27.0%, 10 basis points better than the prior-year quarter. Net margin was 16.7%, 50 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $332.2 million. On the bottom line, the average EPS estimate is $0.74.
Next year's average estimate for revenue is $1.18 billion. The average EPS estimate is $1.77.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 175 members out of 190 rating the stock outperform, and 15 members rating it underperform. Among 56 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 52 give Piedmont Natural Gas a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Piedmont Natural Gas is hold, with an average price target of $31.43.
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