Equities research analysts expect Southwest Gas Holdings Inc (NYSE:SWX) to announce sales of $740.81 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Southwest Gas’ earnings. The highest sales estimate is $793.00 million and the lowest is $688.61 million. Southwest Gas reported sales of $668.15 million during the same quarter last year, which would suggest a positive year over year growth rate of 10.9%. The business is scheduled to announce its next quarterly earnings report on Tuesday, November 5th.
According to Zacks, analysts expect that Southwest Gas will report full year sales of $3.04 billion for the current financial year. For the next fiscal year, analysts forecast that the company will report sales of $3.42 billion, with estimates ranging from $3.13 billion to $3.72 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Southwest Gas.
Southwest Gas (NYSE:SWX) last posted its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Southwest Gas had a return on equity of 8.86% and a net margin of 6.61%. 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 business posted $0.44 EPS. The business’s quarterly revenue was up 6.3% compared to the same quarter last year.
Several brokerages have weighed in on SWX. JPMorgan Chase & Co. began coverage on shares of Southwest Gas in a report on Wednesday, July 17th. They set an “overweight” rating and a $93.00 price target on the stock. UBS Group set a $91.00 price target on shares of Southwest Gas and gave the company a “hold” rating in a report on Friday, July 19th. Zacks Investment Research downgraded shares of Southwest Gas from a “buy” rating to a “hold” rating in a report on Saturday, August 17th. Williams Capital raised shares of Southwest Gas from a “hold” rating to a “buy” rating and lifted their price target for the company from $81.00 to $96.00 in a report on Tuesday, June 18th. Finally, Wells Fargo & Co set a $93.00 price target on shares of Southwest Gas and gave the company a “hold” rating in a report on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Southwest Gas has an average rating of “Hold” and a consensus price target of $94.60.
In other news, VP Kenneth J. Kenny sold 500 shares of Southwest Gas stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $90.26, for a total transaction of $45,130.00. Following the sale, the vice president now owns 16,121 shares in the company, valued at $1,455,081.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.83% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. TCI Wealth Advisors Inc. increased its position in Southwest Gas by 39.4% in 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. NEXT Financial Group Inc bought a new stake in Southwest Gas in the second quarter worth $47,000. Point72 Asset Management L.P. bought a new stake in Southwest Gas in the second quarter worth $54,000. Krane Funds Advisors LLC bought a new stake in Southwest Gas in the second quarter worth $60,000. Finally, Tower Research Capital LLC TRC increased its position in Southwest Gas by 6,708.3% in the second quarter. Tower Research Capital LLC TRC now owns 817 shares of the utilities provider’s stock worth $73,000 after purchasing an additional 805 shares during the last quarter. Hedge funds and other institutional investors own 83.21% of the company’s stock.
NYSE:SWX traded up $1.10 during trading hours on Friday, hitting $91.44. 247,352 shares of the stock traded hands, compared to its average volume of 263,767. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. Southwest Gas has a 1 year low of $72.68 and a 1 year high of $92.94. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 3.17 and a beta of 0.27. The stock has a 50 day moving average price of $90.43 and a 200 day moving average price of $87.52.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, November 14th. Southwest Gas’s 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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