Southwest Gas (NYSE:SWX) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.75-4.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.94. Southwest Gas also updated its FY19 guidance to $3.75-4.00 EPS.
NYSE SWX traded down $1.40 during midday trading on Friday, hitting $89.05. The company had a trading volume of 177,824 shares, compared to its average volume of 251,262. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $4.72 billion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 3.65 and a beta of 0.33. The stock has a fifty day moving average of $89.86. Southwest Gas has a fifty-two week low of $72.68 and a fifty-two week high of $91.93.
Southwest Gas (NYSE:SWX) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). Southwest Gas had a return on equity of 9.10% and a net margin of 6.61%. The company had revenue of $713.01 million during the quarter, compared to analyst estimates of $289.70 million. During the same quarter in the prior year, the business earned $0.44 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, research analysts anticipate that Southwest Gas will post 3.92 EPS for the current year.
SWX has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Southwest Gas from a hold rating to a buy rating and set a $100.00 target price on the stock in a research report on Wednesday, July 17th. UBS Group set a $91.00 target price on shares of Southwest Gas and gave the company a hold rating in a research report on Friday, July 19th. Williams Capital upgraded shares of Southwest Gas from a hold rating to a buy rating and lifted their target price for the company from $81.00 to $96.00 in a research report on Tuesday, June 18th. ValuEngine lowered shares of Southwest Gas from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Co reiterated a hold rating on shares of Southwest Gas in a research report on Monday, June 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $89.00.
In other Southwest Gas news, CEO John P. Hester sold 2,000 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $90.60, for a total value of $181,200.00. Following the transaction, the chief executive officer now directly owns 62,694 shares in the company, valued at $5,680,076.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Justin L. Brown purchased 418 shares of Southwest Gas stock in a transaction on Tuesday, June 11th. The stock was purchased at an average price of $86.20 per share, for a total transaction of $36,031.60. Following the completion of the transaction, the senior vice president now owns 5,720 shares of the company’s stock, valued at $493,064. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 6,350 shares of company stock worth $555,637. Company insiders own 0.83% of the company’s stock.
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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