Share on StockTwits

Southwest Airlines (NYSE:LUV)‘s stock had its “outperform” rating reaffirmed by Zacks in a report issued on Friday. They currently have a $34.00 price objective on the stock. Zacks‘s price objective suggests a potential upside of 21.17% from the stock’s previous close.

Zacks’ analyst wrote, “We maintain our Outperform recommendation on Southwest Airlines. Several strategies like fleet restructuring, introduction of international services and capacity management will boost the carrier’s top and bottom line. Substantial growth opportunities, particularly within the domestic market, also bode well for the carrier. Integration of AirTran will boost Southwest’s operational and financial performance. Winning of slots and expansion of operations from the Reagan and LaGuardia airports will further boost its capacity and network presence. Further, the beginning of operations from Dallas Love Field and the construction of a new facility in Houston Hobby airport will boost its international operations. Additionally, the company continues to boost shareholders’ return via dividends and share buybacks. Such attempts combined with a healthy financial profile will likely support its future endeavors.”

Shares of Southwest Airlines (NYSE:LUV) traded up 0.04% on Friday, hitting $28.07. The stock had a trading volume of 2,594,206 shares. Southwest Airlines has a 52 week low of $12.64 and a 52 week high of $29.70. The stock’s 50-day moving average is $27.74 and its 200-day moving average is $24.70. The company has a market cap of $19.232 billion and a price-to-earnings ratio of 18.14.

Southwest Airlines (NYSE:LUV) last announced its earnings results on Thursday, July 24th. 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. On average, analysts predict that Southwest Airlines will post $1.78 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Tuesday, August 19th.

In other Southwest Airlines news, EVP Ron Ricks sold 37,400 shares of the stock on the open market in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $28.22, for a total transaction of $1,055,428.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Other equities research analysts have also recently issued reports about the stock. Analysts at Argus raised their price target on shares of Southwest Airlines from $28.00 to $34.00 in a research note on Thursday, July 31st. They now have a “buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Southwest Airlines from $26.00 to $29.50 in a research note on Thursday, July 31st. Finally, analysts at Barclays raised their price target on shares of Southwest Airlines from $33.00 to $34.00 in a research note on Monday, July 28th. They now have an “overweight” rating on the stock. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $31.71.

Southwest Airlines Co operates Southwest Airlines and AirTran Airways, passenger airlines that provide scheduled air transportation in the United States and near-international markets.

To view Zacks’ full report, visit Zacks’ official website.

Receive News & Ratings for Southwest Airlines Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines Co and related companies with Analyst Ratings Network's FREE daily email newsletter.