Southwest Gas Corporation (SWX) to Release Quarterly Earnings on Tuesday
Southwest Gas Corporation (NYSE:SWX) will be announcing its earnings results after the market closes on Tuesday, November 7th. Analysts expect the company to announce earnings of $0.14 per share for the quarter.
Southwest Gas Corporation (NYSE:SWX) last issued its quarterly earnings results on Monday, August 7th. The utilities provider reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.09. Southwest Gas Corporation had a return on equity of 9.09% and a net margin of 6.46%. The company had revenue of $560.50 million during the quarter, compared to analysts’ expectations of $564.84 million. During the same quarter in the previous year, the firm posted $0.19 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, analysts expect Southwest Gas Corporation to post $3.42 EPS for the current fiscal year and $3.59 EPS for the next fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Tuesday, November 14th. Southwest Gas Corporation’s payout ratio is 61.11%.
In related news, VP Kenneth J. Kenny sold 600 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $80.90, for a total value of $48,540.00. Following the completion of the sale, the vice president now owns 17,137 shares in the company, valued at $1,386,383.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Karen S. Haller sold 1,300 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $80.95, for a total transaction of $105,235.00. Following the completion of the sale, the senior vice president now owns 26,639 shares of the company’s stock, valued at approximately $2,156,427.05. The disclosure for this sale can be found here. 0.99% of the stock is owned by company insiders.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Southwest Gas Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. BidaskClub lowered Southwest Gas Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. KeyCorp reissued a “hold” rating on shares of Southwest Gas Corporation in a report on Friday, October 20th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $70.00 price target on shares of Southwest Gas Corporation in a report on Monday, October 16th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $78.00.
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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