The Southern Company (SO) emerged with a strong start in 2024, beating Q1 earnings expectations and increasing its dividends for the 23rd consecutive year to $2.88 per share. SO's CEO sold $684,815.04 in stocks, and there was a worrisome insider disposal of $765k stock, triggering bearish signals. Despite in-line earnings, retail sales fell in Q1. The company posted robust earnings from Q1 and Q4 2023, powered by lower operating expense and retail strength. SO announced the commencement of commercial operations for its latest reactor. Analysts believe that despite a 5.5% revenue miss, SO could provide over 10% returns per annum. Wells Fargo upgraded SO's price target to $77. Sales to data centres surged 12% in Q1, and analyses suggest that SO stock is undervalued by 22%. Notably, Southern Company's P/E ratio appears reasonable, and analysts remain optimistic about its dividend growth. The company also outperformed competitors, but some insiders sold $7.7 million in stock. Finally, institutional owners hold a significant 64-65% stake in the company, and there's a reopening to the solar market and a positive perception regarding lower inflation.
The Southern Company SO News Analytics from Thu, 03 Aug 2023 07:00:00 GMT to Wed, 08 May 2024 01:36:00 GMT -
Rating 6
- Innovation -2
- Information 8
- Rumor -4
