Southwest Airlines Co. (NYSE:LUV) – Equities research analysts at Seaport Global Securities reduced their Q3 2021 earnings estimates for shares of Southwest Airlines in a research report issued on Wednesday, January 13th. Seaport Global Securities analyst D. Mckenzie now anticipates that the airline will post earnings of $0.55 per share for the quarter, down from their previous forecast of $0.65.
Other equities research analysts also recently issued research reports about the company. Sanford C. Bernstein raised Southwest Airlines from a “market perform” rating to an “outperform” rating and set a $59.00 price target for the company in a report on Monday, December 7th. Exane BNP Paribas initiated coverage on shares of Southwest Airlines in a research report on Friday, November 13th. They set an “outperform” rating and a $55.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of Southwest Airlines in a research note on Tuesday, November 17th. They set a “buy” rating and a $55.00 price target on the stock. Barclays boosted their price objective on shares of Southwest Airlines from $35.00 to $40.00 in a report on Friday, September 18th. Finally, JPMorgan Chase & Co. downgraded Southwest Airlines from a “neutral” rating to an “underweight” rating and set a $41.00 target price on the stock. in a research report on Wednesday, October 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Southwest Airlines presently has a consensus rating of “Buy” and a consensus price target of $47.96.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, October 22nd. The airline reported ($1.99) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.35) by $0.36. Southwest Airlines had a negative net margin of 12.94% and a negative return on equity of 22.65%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the company earned $1.23 earnings per share. The business’s revenue for the quarter was down 68.2% on a year-over-year basis.
A number of institutional investors have recently bought and sold shares of LUV. IFM Investors Pty Ltd lifted its position in shares of Southwest Airlines by 7.4% during the fourth quarter. IFM Investors Pty Ltd now owns 11,873 shares of the airline’s stock worth $553,000 after purchasing an additional 816 shares in the last quarter. Coastal Investment Advisors Inc. raised its position in shares of Southwest Airlines by 18.4% in the 4th quarter. Coastal Investment Advisors Inc. now owns 10,776 shares of the airline’s stock worth $502,000 after acquiring an additional 1,674 shares in the last quarter. Redpoint Investment Management Pty Ltd bought a new stake in shares of Southwest Airlines during the 4th quarter valued at about $306,000. Global Retirement Partners LLC increased its holdings in Southwest Airlines by 7.7% in the fourth quarter. Global Retirement Partners LLC now owns 6,806 shares of the airline’s stock worth $317,000 after purchasing an additional 487 shares in the last quarter. Finally, Sowell Financial Services LLC lifted its stake in Southwest Airlines by 315.3% in the fourth quarter. Sowell Financial Services LLC now owns 34,839 shares of the airline’s stock valued at $1,624,000 after buying an additional 26,451 shares during the period. 69.35% of the stock is owned by hedge funds and other institutional investors.
In other Southwest Airlines news, EVP Gregory D. Wells sold 15,166 shares of the firm’s stock in a transaction on Wednesday, November 18th. The shares were sold at an average price of $46.80, for a total value of $709,768.80. Following the sale, the executive vice president now directly owns 44,567 shares in the company, valued at approximately $2,085,735.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.28% of the stock is owned by corporate insiders.
About Southwest Airlines
Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2019, the company operated a total of 747 Boeing 737 aircraft; and served 101 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.
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