Q3 2024 Earnings Forecast for Southwest Gas Holdings, Inc. (NYSE:SWX) Issued By Zacks Research

Southwest Gas Holdings, Inc. (NYSE:SWX) – Research analysts at Zacks Research increased their Q3 2024 earnings per share estimates for shares of Southwest Gas in a report issued on Tuesday, April 9th. Zacks Research analyst R. Department now forecasts that the utilities provider will earn $0.11 per share for the quarter, up from their prior forecast of $0.05. The consensus estimate for Southwest Gas’ current full-year earnings is $3.45 per share. Zacks Research also issued estimates for Southwest Gas’ Q4 2024 earnings at $1.07 EPS, FY2024 earnings at $3.38 EPS, Q2 2025 earnings at $0.61 EPS and Q4 2025 earnings at $1.62 EPS.

Several other research firms also recently commented on SWX. Citigroup increased their price objective on Southwest Gas from $64.00 to $73.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. StockNews.com upgraded Southwest Gas from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th.

Southwest Gas Trading Down 0.2 %

NYSE:SWX opened at $72.85 on Thursday. Southwest Gas has a twelve month low of $53.79 and a twelve month high of $76.75. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.39. The business has a 50 day moving average price of $68.51 and a two-hundred day moving average price of $63.32. The company has a market cap of $5.22 billion, a P/E ratio of 34.36, a price-to-earnings-growth ratio of 3.55 and a beta of 0.36.

Southwest Gas (NYSE:SWX) last posted its earnings results on Wednesday, February 28th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.16. Southwest Gas had a return on equity of 7.28% and a net margin of 2.78%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.27 billion.

Southwest Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.48 annualized dividend and a dividend yield of 3.40%. Southwest Gas’s dividend payout ratio is 116.98%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Southwest Gas by 4.5% during the 1st quarter. BlackRock Inc. now owns 10,117,342 shares of the utilities provider’s stock worth $631,828,000 after acquiring an additional 436,206 shares during the period. Vanguard Group Inc. raised its holdings in shares of Southwest Gas by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 6,770,373 shares of the utilities provider’s stock valued at $472,233,000 after acquiring an additional 114,397 shares in the last quarter. State Street Corp raised its holdings in shares of Southwest Gas by 3.1% in the 1st quarter. State Street Corp now owns 2,277,553 shares of the utilities provider’s stock valued at $142,233,000 after acquiring an additional 67,936 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Southwest Gas by 5.6% in the 1st quarter. Geode Capital Management LLC now owns 1,324,858 shares of the utilities provider’s stock valued at $82,737,000 after acquiring an additional 70,444 shares in the last quarter. Finally, River Road Asset Management LLC raised its holdings in shares of Southwest Gas by 0.6% in the 4th quarter. River Road Asset Management LLC now owns 1,183,049 shares of the utilities provider’s stock valued at $74,946,000 after acquiring an additional 7,143 shares in the last quarter. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Southwest Gas Company Profile

Southwest Gas Holdings, Inc, through its subsidiaries, distributes and transports natural gas in Arizona, Nevada, and California. The company operates through Natural Gas Distribution, Utility Infrastructure Services, and Pipeline and Storage segments. It also provides trenching, installation, and replacement of underground pipes, as well as maintenance services for energy distribution systems.