Wall Street brokerages expect Southwest Gas Holdings Inc (NYSE:SWX) to report $0.43 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Southwest Gas’ earnings. The lowest EPS estimate is $0.38 and the highest is $0.52. Southwest Gas posted earnings of $0.44 per share in the same quarter last year, which would indicate a negative year over year growth rate of 2.3%. The business is scheduled to announce its next quarterly earnings results on Tuesday, August 6th.
According to Zacks, analysts expect that Southwest Gas will report full-year earnings of $3.92 per share for the current year, with EPS estimates ranging from $3.85 to $4.00. For the next year, analysts anticipate that the business will report earnings of $4.23 per share, with EPS estimates ranging from $4.15 to $4.30. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Southwest Gas.
Southwest Gas (NYSE:SWX) last released its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The business had revenue of $807.10 million during the quarter, compared to analysts’ expectations of $516.97 million. Southwest Gas had a return on equity of 9.34% and a net margin of 6.69%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.63 EPS.
A number of equities analysts have recently weighed in on the company. Wells Fargo & Co reiterated a “buy” rating on shares of Allergan in a report on Monday, June 10th. ValuEngine raised VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of SUZUKI MTR CORP/ADR in a research report on Wednesday, July 17th. Williams Capital raised Southwest Gas from a “hold” rating to a “buy” rating and increased their price target for the company from $81.00 to $96.00 in a research report on Tuesday, June 18th. Finally, UBS Group set a $260.00 price target on Boston Beer and gave the company a “sell” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $89.00.
In related news, SVP Eric Debonis sold 350 shares of Southwest Gas stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $83.19, for a total transaction of $29,116.50. Following the completion of the transaction, the senior vice president now directly owns 10,800 shares of the company’s stock, valued at $898,452. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Justin L. Brown acquired 418 shares of Southwest Gas 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 completion of the acquisition, the senior vice president now owns 5,720 shares of the company’s stock, valued at approximately $493,064. The disclosure for this purchase can be found here. Insiders sold a total of 6,350 shares of company stock valued at $555,637 over the last three months. Insiders own 0.83% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. TCI Wealth Advisors Inc. raised its holdings in Southwest Gas by 39.4% during the second quarter. TCI Wealth Advisors Inc. now owns 407 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 115 shares during the last quarter. 6 Meridian raised its holdings in Southwest Gas by 2.1% during the second quarter. 6 Meridian now owns 6,175 shares of the utilities provider’s stock worth $553,000 after purchasing an additional 127 shares during the last quarter. Boston Advisors LLC raised its holdings in Southwest Gas by 0.8% during the first quarter. Boston Advisors LLC now owns 21,148 shares of the utilities provider’s stock worth $1,740,000 after purchasing an additional 171 shares during the last quarter. Creative Planning raised its holdings in Southwest Gas by 3.8% during the second quarter. Creative Planning now owns 4,922 shares of the utilities provider’s stock worth $441,000 after purchasing an additional 181 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in Southwest Gas by 189.9% during the first quarter. Quadrant Capital Group LLC now owns 400 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 262 shares during the last quarter. 82.61% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE SWX traded up $0.79 during mid-day trading on Friday, reaching $89.25. 3,918 shares of the company’s stock were exchanged, compared to its average volume of 186,413. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 3.69 and a beta of 0.35. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.85 and a quick ratio of 0.85. Southwest Gas has a 52-week low of $72.68 and a 52-week high of $91.93. The stock’s 50-day moving average is $89.48.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be issued a $0.545 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $2.18 annualized dividend and a dividend yield of 2.44%. Southwest Gas’s dividend payout ratio is currently 59.24%.
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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