Southwest Gas Corporation (NYSE:SWX) Announces Earnings Results, Beats Expectations By $0.09 EPS
Southwest Gas Corporation (NYSE:SWX) issued its earnings results on Monday. The utilities provider reported $0.37 EPS for the quarter, beating the Zacks’ 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 period last year, the company earned $0.19 EPS.
Southwest Gas Corporation (SWX) remained flat at $80.37 during midday trading on Monday. The company had a trading volume of 224,670 shares. Southwest Gas Corporation has a 1-year low of $64.26 and a 1-year high of $86.65. The firm’s 50-day moving average is $76.89 and its 200 day moving average is $80.58. The company has a market cap of $3.82 billion, a PE ratio of 26.33 and a beta of 0.60.
In other Southwest Gas Corporation news, SVP Eric Debonis sold 350 shares of Southwest Gas Corporation stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $80.02, for a total transaction of $28,007.00. Following the transaction, the senior vice president now owns 20,057 shares of the company’s stock, valued at $1,604,961.14. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.34% of the company’s stock.
A number of brokerages recently commented on SWX. BidaskClub lowered Southwest Gas Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Jefferies Group LLC upgraded Southwest Gas Corporation from an “underperform” rating to a “hold” rating and upped their target price for the company from $68.00 to $70.00 in a research report on Wednesday, July 12th. Finally, Zacks Investment Research upgraded Southwest Gas Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, April 22nd. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock 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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