Zacks: Brokerages Expect Southwest Airlines Company (LUV) to Announce $0.87 EPS
Equities analysts expect Southwest Airlines Company (NYSE:LUV) to report earnings per share of $0.87 for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Southwest Airlines’ earnings, with the lowest EPS estimate coming in at $0.84 and the highest estimate coming in at $0.91. Southwest Airlines posted earnings per share of $0.93 during the same quarter last year, which would indicate a negative year over year growth rate of 6.5%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, October 25th.
According to Zacks, analysts expect that Southwest Airlines will report full-year earnings of $3.60 per share for the current year, with EPS estimates ranging from $3.50 to $3.75. For the next fiscal year, analysts anticipate that the firm will post earnings of $4.52 per share, with EPS estimates ranging from $4.00 to $4.90. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Southwest Airlines.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ 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 during the quarter, compared to analyst estimates of $5.73 billion. During the same quarter in the prior year, the firm posted $1.19 earnings per share. Southwest Airlines’s quarterly revenue was up 6.7% on a year-over-year basis.
Several research analysts recently weighed in on LUV shares. Cowen and Company reissued a “buy” rating and issued a $67.00 target price on shares of Southwest Airlines in a research note on Friday, July 28th. BidaskClub downgraded shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Sunday, July 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Southwest Airlines in a research note on Tuesday, September 12th. Bank of America Corporation upped their price objective on shares of Southwest Airlines from $62.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, June 30th. Finally, Macquarie assumed coverage on shares of Southwest Airlines in a research note on Monday, September 25th. They set an “outperform” rating and a $62.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $66.95.
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Shares of Southwest Airlines (LUV) traded down 1.03% during midday trading on Monday, hitting $58.76. 4,580,235 shares of the company were exchanged. The company has a 50-day moving average price of $55.94 and a 200-day moving average price of $57.31. Southwest Airlines has a 52-week low of $36.91 and a 52-week high of $64.39. The stock has a market capitalization of $35.17 billion, a price-to-earnings ratio of 18.02 and a beta of 1.32.
In related news, Director William H. Dr Cunningham purchased 4,500 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was purchased at an average price of $54.00 per share, for a total transaction of $243,000.00. Following the acquisition, the director now directly owns 66,969 shares in the company, valued at $3,616,326. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Southwest Airlines by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 38,498,787 shares of the airline’s stock worth $2,069,695,000 after acquiring an additional 286,456 shares during the period. BlackRock Inc. boosted its holdings in Southwest Airlines by 4,163.3% in the 1st quarter. BlackRock Inc. now owns 34,983,319 shares of the airline’s stock worth $1,880,703,000 after acquiring an additional 34,162,752 shares during the period. State Street Corp boosted its holdings in Southwest Airlines by 1.5% in the 1st quarter. State Street Corp now owns 23,480,558 shares of the airline’s stock worth $1,262,308,000 after acquiring an additional 353,960 shares during the period. Ameriprise Financial Inc. boosted its holdings in Southwest Airlines by 13.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,836,067 shares of the airline’s stock worth $549,016,000 after acquiring an additional 1,026,892 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Southwest Airlines by 6.2% in the 1st quarter. Geode Capital Management LLC now owns 5,674,040 shares of the airline’s stock worth $304,649,000 after acquiring an additional 332,285 shares during the period. Hedge funds and other institutional investors own 79.41% of the company’s stock.
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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