Southwest Airlines Upgraded to Neutral by Merrill Lynch (LUV)
Southwest Airlines (NYSE:LUV) was upgraded by stock analysts at Merrill Lynch to a “neutral” rating in a report issued on Tuesday, AnalystRatings.Net reports.
Shares of Southwest Airlines (NYSE:LUV) traded up 1.87% on Tuesday, hitting $14.70. 7,797,220 shares of the company’s stock traded hands. Southwest Airlines has a 1-year low of $8.68 and a 1-year high of $14.66. The stock’s 50-day moving average is $13.52 and its 200-day moving average is $13.48. The company has a market cap of $10.381 billion and a P/E ratio of 27.91.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.38 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.38. The company had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the company posted $0.36 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts predict that Southwest Airlines will post $0.98 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on LUV. Analysts at Bank of America Corp. upgraded shares of Southwest Airlines (NYSE:LUV) from an “underperform” rating to a “neutral” rating in a research note to investors on Monday. They now have a $15.00 price target on the stock, up previously from $12.50. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Southwest Airlines (NYSE:LUV) from $12.00 to $12.50 in a research note to investors on Tuesday, September 17th. They now have an “underweight” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Southwest Airlines (NYSE:LUV) in a research note to investors on Monday, August 26th. They now have a $14.00 price target on the stock.
Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. Southwest Airlines presently has a consensus rating of “Hold” and a consensus price target of $15.21.
Southwest Airlines Co operates Southwest Airlines, a passenger airline, which provides scheduled air transportation in the United States.
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