Southwest Airlines Sets New 12-Month High on Analyst Upgrade (LUV)
Southwest Airlines (NYSE:LUV) shares hit a new 52-week high during mid-day trading on Monday after Evercore Partners raised their price target on the stock from $32.00 to $35.00, American Banking and Market News reports. The stock traded as high as $32.20 and last traded at $32.02, with a volume of 2,223,463 shares. The stock had previously closed at $31.87.
Other equities research analysts have also recently issued reports about 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 equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $31.96.
In other Southwest Airlines news, CEO Gary C. Kelly sold 60,600 shares of Southwest Airlines stock 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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 $21.993 billion and a price-to-earnings ratio of 20.60.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. 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. Stockholders 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 0.75%. The ex-dividend date of this dividend is Tuesday, August 19th.
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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