Wall Street brokerages expect that Southwest Gas Holdings Inc (NYSE:SWX) will post earnings of $0.23 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Southwest Gas’ earnings. The lowest EPS estimate is $0.17 and the highest is $0.30. Southwest Gas reported earnings per share of $0.25 in the same quarter last year, which would suggest a negative year-over-year growth rate of 8%. The company is scheduled to issue its next quarterly earnings results on Tuesday, November 5th.
According to Zacks, analysts expect that Southwest Gas will report full-year earnings of $3.91 per share for the current fiscal year, with EPS estimates ranging from $3.83 to $4.00. For the next financial year, analysts anticipate that the company will report earnings of $4.23 per share, with EPS estimates ranging from $4.15 to $4.28. Zacks’ EPS calculations are an average based on a survey of research firms that cover Southwest Gas.
Southwest Gas (NYSE:SWX) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). Southwest Gas had a net margin of 6.61% and a return on equity of 8.86%. The business had revenue of $713.01 million during the quarter, compared to analysts’ expectations of $289.70 million. During the same period in the previous year, the company posted $0.44 earnings per share. Southwest Gas’s revenue for the quarter was up 6.3% compared to the same quarter last year.
Several equities research analysts have commented on SWX shares. ValuEngine lowered shares of Southwest Gas from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research lowered shares of Southwest Gas from a “buy” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. began coverage on shares of Southwest Gas in a research note on Wednesday, July 17th. They set an “overweight” rating and a $93.00 target price on the stock. UBS Group set a $91.00 target price on shares of Southwest Gas and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, Williams Capital raised shares of Southwest Gas from a “hold” rating to a “buy” rating and increased their target price for the stock from $81.00 to $96.00 in a research note on Tuesday, June 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $89.00.
NYSE:SWX traded up $1.47 during mid-day trading on Friday, hitting $90.03. The company’s stock had a trading volume of 216,800 shares, compared to its average volume of 195,499. Southwest Gas has a 1 year low of $72.68 and a 1 year high of $91.93. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 3.67 and a beta of 0.33. The business’s fifty day moving average is $89.62 and its two-hundred day moving average is $85.10.
In related news, SVP Justin L. Brown purchased 418 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were purchased at an average cost of $86.20 per share, with a total value of $36,031.60. Following the purchase, the senior vice president now owns 5,720 shares of the company’s stock, valued at approximately $493,064. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John P. Hester sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $90.60, for a total transaction of $181,200.00. Following the completion of the transaction, the chief executive officer now directly owns 62,694 shares in the company, valued at $5,680,076.40. The disclosure for this sale can be found here. Corporate insiders own 0.83% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Tortoise Index Solutions LLC lifted its stake in Southwest Gas by 0.6% in the 1st quarter. Tortoise Index Solutions LLC now owns 58,803 shares of the utilities provider’s stock valued at $4,837,000 after buying an additional 344 shares in the last quarter. ClariVest Asset Management LLC raised its holdings in Southwest Gas by 25.3% in the 1st quarter. ClariVest Asset Management LLC now owns 34,200 shares of the utilities provider’s stock valued at $2,813,000 after acquiring an additional 6,900 shares during the last quarter. Convergence Investment Partners LLC acquired a new stake in Southwest Gas in the 2nd quarter valued at about $1,550,000. Mason Street Advisors LLC raised its holdings in Southwest Gas by 1.7% in the 1st quarter. Mason Street Advisors LLC now owns 28,226 shares of the utilities provider’s stock valued at $2,322,000 after acquiring an additional 465 shares during the last quarter. Finally, AlphaCrest Capital Management LLC acquired a new stake in Southwest Gas in the 1st quarter valued at about $905,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.
About Southwest Gas
Southwest Gas Holdings, Inc, through its subsidiaries, purchases, distributes, and transports natural gas in Arizona, Nevada, and California. The company operates through two segments, Natural Gas Operations and Utility Infrastructure Services. As of December 31, 2018, it had 2,047,000 residential, commercial, industrial, and other natural gas customers.
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