Jefferies Group Brokers Increase Earnings Estimates for Southwest Gas Corporation (SWX)
Southwest Gas Corporation (NYSE:SWX) – Equities researchers at Jefferies Group boosted their Q2 2017 EPS estimates for shares of Southwest Gas Corporation in a research note issued to investors on Wednesday. Jefferies Group analyst C. Sighinolfi now forecasts that the utilities provider will post earnings of $0.26 per share for the quarter, up from their prior forecast of $0.19. Jefferies Group currently has a “Hold” rating and a $70.00 price target on the stock. Jefferies Group also issued estimates for Southwest Gas Corporation’s Q3 2017 earnings at $0.14 EPS, Q4 2017 earnings at $1.49 EPS and FY2019 earnings at $3.65 EPS.
Southwest Gas Corporation (NYSE:SWX) last posted its quarterly earnings data on Monday, May 8th. The utilities provider reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.63 by $0.18. Southwest Gas Corporation had a return on equity of 8.65% and a net margin of 6.12%. The firm had revenue of $654.74 million for the quarter, compared to analysts’ expectations of $741.80 million. During the same quarter in the previous year, the firm posted $1.58 earnings per share. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. WARNING: “Jefferies Group Brokers Increase Earnings Estimates for Southwest Gas Corporation (SWX)” was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States & international copyright & trademark laws. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/07/17/jefferies-group-brokers-increase-earnings-estimates-for-southwest-gas-corporation-swx.html.
Several other equities research analysts have also weighed in on SWX. Zacks Investment Research lowered shares of Southwest Gas Corporation from a “hold” rating to a “sell” rating in a report on Thursday, March 23rd. BidaskClub lowered shares of Southwest Gas Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Southwest Gas Corporation has an average rating of “Hold” and an average price target of $80.20.
Southwest Gas Corporation (NYSE SWX) opened at 77.59 on Monday. The firm’s 50-day moving average is $77.28 and its 200 day moving average is $80.34. Southwest Gas Corporation has a 52-week low of $64.26 and a 52-week high of $86.65. The stock has a market capitalization of $3.69 billion, a PE ratio of 25.42 and a beta of 0.59.
Several large investors have recently modified their holdings of the company. YorkBridge Wealth Partners LLC raised its stake in shares of Southwest Gas Corporation by 14.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,268 shares of the utilities provider’s stock worth $106,000 after buying an additional 160 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Southwest Gas Corporation by 6.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,575 shares of the utilities provider’s stock worth $120,000 after buying an additional 98 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Southwest Gas Corporation by 17.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,350 shares of the utilities provider’s stock worth $180,000 after buying an additional 352 shares during the last quarter. Jaffetilchin Investment Partners LLC bought a new stake in shares of Southwest Gas Corporation during the first quarter worth approximately $205,000. Finally, GW&K Investment Management LLC bought a new stake in shares of Southwest Gas Corporation during the second quarter worth approximately $205,000. Institutional investors and hedge funds own 77.88% of the company’s stock.
In related news, SVP Eric Debonis sold 350 shares of the firm’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $80.02, for a total transaction of $28,007.00. Following the sale, the senior vice president now directly owns 20,057 shares in the company, valued at $1,604,961.14. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.34% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a dividend of $0.495 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.55%. Southwest Gas Corporation’s payout ratio is 64.71%.
Southwest Gas Corporation Company Profile
Southwest Gas Holdings, Inc, formerly Southwest Gas Corporation, is engaged in the business of purchasing, distributing and transporting natural gas. The Company operates through two segments: natural gas operations and construction services, which includes the operations of the Company’s subsidiary, Centuri Construction Group, Inc (Centuri).
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