Zacks: Brokerages Anticipate Southwest Airlines Company (LUV) Will Post Earnings of $0.93 Per Share
Wall Street analysts expect that Southwest Airlines Company (NYSE:LUV) will report $0.93 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Southwest Airlines’ earnings. The highest EPS estimate is $1.00 and the lowest is $0.85. Southwest Airlines also reported earnings of $0.93 per share during the same quarter last year. The business is scheduled to report its next quarterly earnings results on Wednesday, October 25th.
On average, analysts expect that Southwest Airlines will report full-year earnings of $3.71 per share for the current year, with EPS estimates ranging from $3.60 to $3.85. For the next fiscal year, analysts anticipate that the company will post earnings of $4.57 per share, with EPS estimates ranging from $4.00 to $4.95. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Southwest Airlines.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings results on Thursday, July 27th. The airline reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.04. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same period in the prior year, the firm posted $1.19 earnings per share. The company’s quarterly revenue was up 6.7% compared to the same quarter last year.
Several equities analysts have weighed in on the company. Zacks Investment Research upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Tuesday, June 13th. J P Morgan Chase & Co upgraded Southwest Airlines from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $60.00 to $66.00 in a research note on Friday. BidaskClub cut Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Vetr upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $63.80 price objective on the stock in a research note on Monday, June 5th. Finally, Argus upgraded Southwest Airlines from a “hold” rating to a “buy” rating and raised their price objective for the company from $61.76 to $68.00 in a research note on Thursday, June 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $67.77.
Shares of Southwest Airlines (NYSE:LUV) opened at 54.72 on Friday. Southwest Airlines has a 52-week low of $36.31 and a 52-week high of $64.39. The company has a market capitalization of $32.75 billion, a price-to-earnings ratio of 16.78 and a beta of 1.29. The firm’s 50-day moving average is $53.74 and its 200 day moving average is $56.91.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Tuesday, August 22nd. Southwest Airlines’s payout ratio is presently 15.34%.
In related news, Director William H. Dr Cunningham bought 4,500 shares of Southwest Airlines stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $54.00 per share, with a total value of $243,000.00. Following the acquisition, the director now directly owns 66,969 shares of the company’s stock, valued at $3,616,326. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.21% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. BDO Wealth Advisors LLC purchased a new position in shares of Southwest Airlines during the second quarter worth about $102,000. Guardian Life Insurance Co. of America grew its holdings in shares of Southwest Airlines by 0.6% during the first quarter. Guardian Life Insurance Co. of America now owns 2,374 shares of the airline’s stock worth $128,000 after purchasing an additional 15 shares in the last quarter. Pittenger & Anderson Inc. grew its holdings in shares of Southwest Airlines by 13.5% during the second quarter. Pittenger & Anderson Inc. now owns 2,100 shares of the airline’s stock worth $130,000 after purchasing an additional 250 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Southwest Airlines by 6.6% during the first quarter. Van ECK Associates Corp now owns 2,502 shares of the airline’s stock worth $135,000 after purchasing an additional 154 shares in the last quarter. Finally, National Pension Service purchased a new position in shares of Southwest Airlines during the second quarter worth about $141,000. 79.42% of the stock is owned by institutional investors.
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About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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