Analysts expect that Southwest Airlines Company (NYSE:LUV) will announce sales of $5.36 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Southwest Airlines’ earnings, with the lowest sales estimate coming in at $5.29 billion and the highest estimate coming in at $5.46 billion. Southwest Airlines reported sales of $5.14 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 4.3%. The business is expected to report its next quarterly earnings report on Wednesday, October 25th.
On average, analysts expect that Southwest Airlines will report full year sales of $5.36 billion for the current financial year, with estimates ranging from $21.16 billion to $21.33 billion. For the next year, analysts expect that the business will report sales of $22.58 billion per share, with estimates ranging from $22.07 billion to $23.07 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Southwest Airlines.
Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, beating 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 company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the previous year, the company earned $1.19 EPS. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year.
Several research firms have recently issued reports on LUV. Zacks Investment Research raised Southwest Airlines from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a report on Tuesday, June 13th. BidaskClub lowered Southwest Airlines from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Vetr raised Southwest Airlines from a “hold” rating to a “buy” rating and set a $63.80 target price on the stock in a report on Monday, June 5th. Argus raised Southwest Airlines from a “hold” rating to a “buy” rating and increased their target price for the stock from $61.76 to $68.00 in a report on Thursday, June 22nd. Finally, Wolfe Research raised Southwest Airlines from a “market perform” rating to an “outperform” rating in a report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Southwest Airlines 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 Monday. The firm has a market cap of $32.75 billion, a P/E ratio of 16.78 and a beta of 1.29. The stock has a 50 day moving average of $53.74 and a 200 day moving average of $56.91. Southwest Airlines has a 52 week low of $36.31 and a 52 week high of $64.39.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Tuesday, August 22nd. Southwest Airlines’s payout ratio is 15.34%.
In other news, Director William H. Dr Cunningham purchased 4,500 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average cost of $54.00 per share, with a total value of $243,000.00. Following the completion of the purchase, the director now owns 66,969 shares of the company’s stock, valued at approximately $3,616,326. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. BDO Wealth Advisors LLC acquired a new stake in shares of Southwest Airlines during the second quarter valued at about $102,000. Guardian Life Insurance Co. of America boosted its stake 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 valued at $128,000 after purchasing an additional 15 shares in the last quarter. Pittenger & Anderson Inc. boosted its stake 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 valued at $130,000 after purchasing an additional 250 shares in the last quarter. Van ECK Associates Corp boosted its stake 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 valued at $135,000 after purchasing an additional 154 shares in the last quarter. Finally, National Pension Service bought a new position in shares of Southwest Airlines during the second quarter worth about $141,000. 79.42% of the stock is currently owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Southwest Airlines Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines Company and related companies with MarketBeat.com's FREE daily email newsletter.