Evercore Partners Raises Southwest Airlines Price Target to $35.00 (LUV)
Stock analysts at Evercore Partners hoisted their price objective on shares of Southwest Airlines (NYSE:LUV) from $32.00 to $35.00 in a report issued on Monday. Evercore Partners’ price target would suggest a potential upside of 9.82% from the company’s current price.
In other Southwest Airlines news, CEO Gary C. Kelly unloaded 60,600 shares of the company’s stock on the open market in a transaction dated Thursday, August 21st. The stock was sold at an average price of $31.22, for a total value of $1,891,932.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Southwest Airlines (NYSE:LUV) opened at 31.87 on Monday. Southwest Airlines has a 52-week low of $12.64 and a 52-week high of $32.12. The stock’s 50-day moving average is $28.68 and its 200-day moving average is $25.38. The company has a market cap of $21.835 billion and a P/E ratio of 20.19.
Southwest Airlines (NYSE:LUV) last released its earnings data 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. Analysts expect that Southwest Airlines will post $1.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Investors of record on Thursday, August 21st will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Tuesday, August 19th.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated an “outperform” rating on shares of Southwest Airlines in a research note on Friday, August 8th. They now have a $34.00 price target on the stock. Separately, 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. Finally, 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. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $31.96.
Southwest Airlines Co operates Southwest Airlines and AirTran Airways, passenger airlines that provide scheduled air transportation in the United States and near-international markets.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.