Southwest Gas Corporation (SWX) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS
Southwest Gas Corporation (NYSE:SWX) announced its quarterly earnings data on Monday. The utilities provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.09, Bloomberg Earnings reports. Southwest Gas Corporation had a return on equity of 8.65% and a net margin of 6.12%. During the same quarter in the prior year, the company posted $0.19 earnings per share.
Shares of Southwest Gas Corporation (NYSE:SWX) remained flat at $80.37 during trading on Monday. The stock had a trading volume of 224,670 shares. The company has a market capitalization of $3.82 billion, a PE ratio of 26.33 and a beta of 0.60. Southwest Gas Corporation has a 52-week low of $64.26 and a 52-week high of $86.65. The stock’s 50-day moving average is $76.89 and its 200-day moving average is $80.58.
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In other Southwest Gas Corporation news, SVP Eric Debonis sold 350 shares of Southwest Gas Corporation stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $80.02, for a total transaction of $28,007.00. Following the completion of the sale, the senior vice president now owns 20,057 shares of the company’s stock, valued at $1,604,961.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.34% of the company’s stock.
A number of equities analysts have issued reports on SWX shares. Jefferies Group LLC raised Southwest Gas Corporation from an “underperform” rating to a “hold” rating and upped their target price for the stock from $68.00 to $70.00 in a report on Wednesday, July 12th. BidaskClub raised Southwest Gas Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Zacks Investment Research raised Southwest Gas Corporation from a “sell” rating to a “hold” rating in a report on Saturday, April 22nd. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $80.50.
About Southwest Gas Corporation
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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