Southwest Airlines Hits New 12-Month High Following Better-Than-Expected Earnings (LUV)
Southwest Airlines (NYSE:LUV)’s share price hit a new 52-week high on Thursday following a better than expected earnings announcement, StockRatingsNetwork reports. The company traded as high as $29.50 and last traded at $28.80, with a volume of 5,414,051 shares trading hands. The stock had previously closed at $28.87.
The company reported $0.70 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.60 by $0.10. The company had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.92 billion. During the same quarter last year, the company posted $0.38 earnings per share. Southwest Airlines’s revenue was up 7.9% compared to the same quarter last year.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley raised their price target on shares of Southwest Airlines from $25.00 to $27.00 in a research note on Monday, July 14th. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Southwest Airlines in a research note on Friday, July 11th. They now have a $33.00 price target on the stock, up previously from $28.00. Finally, analysts at CRT Capital raised their price target on shares of Southwest Airlines from $27.00 to $34.00 in a research note on Thursday, July 10th. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $28.27.
The stock’s 50-day moving average is $27.23 and its 200-day moving average is $24.10. The company has a market cap of $19.953 billion and a price-to-earnings ratio of 24.16.
Southwest Airlines Co operates Southwest Airlines and AirTran Airways, passenger airlines that provide scheduled air transportation in the United States and near-international markets.
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