Seaport Global Securities Brokers Lower Earnings Estimates for Southwestern Energy (SWN)
Southwestern Energy (NYSE:SWN) – Seaport Global Securities decreased their FY2017 earnings per share estimates for shares of Southwestern Energy in a report released on Tuesday. Seaport Global Securities analyst M. Kelly now expects that the energy company will post earnings per share of $0.37 for the year, down from their previous estimate of $0.47. Seaport Global Securities also issued estimates for Southwestern Energy’s Q4 2017 earnings at $0.06 EPS, Q1 2018 earnings at $0.18 EPS, Q2 2018 earnings at $0.15 EPS, Q3 2018 earnings at $0.16 EPS, Q4 2018 earnings at $0.23 EPS and FY2018 earnings at $0.73 EPS.
A number of other brokerages have also weighed in on SWN. KeyCorp reissued a “hold” rating on shares of Southwestern Energy in a research note on Friday, November 10th. Mizuho lowered Southwestern Energy from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 21st. BMO Capital Markets set a $9.00 price target on Southwestern Energy and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Robert W. Baird reissued a “hold” rating and set a $8.00 price target on shares of Southwestern Energy in a research note on Tuesday, September 26th. Finally, Wolfe Research raised Southwestern Energy from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $6.00 to $7.00 in a research note on Wednesday, September 20th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $8.95.
Southwestern Energy (NYSE:SWN) last issued its quarterly earnings results on Thursday, October 26th. The energy company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Southwestern Energy had a return on equity of 23.99% and a net margin of 16.31%. The business had revenue of $737.00 million for the quarter, compared to analysts’ expectations of $773.99 million. During the same period in the prior year, the company earned $0.03 EPS. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Shell Asset Management Co. purchased a new position in shares of Southwestern Energy in the 3rd quarter worth $1,880,000. Brookfield Asset Management Inc. acquired a new stake in Southwestern Energy in the 2nd quarter valued at $3,040,000. Ameriprise Financial Inc. increased its holdings in Southwestern Energy by 85.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,570,697 shares of the energy company’s stock valued at $9,550,000 after purchasing an additional 724,639 shares in the last quarter. AMG National Trust Bank increased its holdings in Southwestern Energy by 325.5% in the 3rd quarter. AMG National Trust Bank now owns 258,138 shares of the energy company’s stock valued at $1,578,000 after purchasing an additional 197,465 shares in the last quarter. Finally, Van Hulzen Asset Management LLC acquired a new stake in Southwestern Energy in the 3rd quarter valued at $272,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: “Seaport Global Securities Brokers Lower Earnings Estimates for Southwestern Energy (SWN)” was first published by American Banking News and is the property of of American Banking News. If you are accessing this story on another website, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this story can be viewed at https://www.americanbankingnews.com/2018/01/18/seaport-global-securities-brokers-lower-earnings-estimates-for-southwestern-energy-swn.html.
Southwestern Energy Company Profile
Southwestern Energy Company is an energy company engaged in natural gas and oil exploration, development and production. The Company operates through two segments: Exploration and Production (E&P) and Midstream Services. Its operations in northeast Pennsylvania are primarily focused on the unconventional natural gas reservoir known as the Marcellus Shale.
Receive News & Ratings for Southwestern Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwestern Energy and related companies with MarketBeat.com's FREE daily email newsletter.