Southwest Airlines Co. (NYSE:LUV - Free Report) - Seaport Res Ptn upped their Q3 2024 earnings per share (EPS) estimates for shares of Southwest Airlines in a report released on Monday, April 15th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the airline will post earnings per share of $0.55 for the quarter, up from their previous forecast of $0.40. The consensus estimate for Southwest Airlines' current full-year earnings is $1.52 per share. Seaport Res Ptn also issued estimates for Southwest Airlines' Q4 2024 earnings at $0.70 EPS, FY2024 earnings at $1.85 EPS and FY2025 earnings at $2.85 EPS.
Southwest Airlines (NYSE:LUV - Get Free Report) last issued its earnings results on Thursday, January 25th. The airline reported $0.37 EPS for the quarter, topping the consensus estimate of $0.12 by $0.25. Southwest Airlines had a return on equity of 9.40% and a net margin of 1.91%. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.75 billion. During the same quarter last year, the company earned ($0.38) EPS. The firm's revenue was up 10.5% compared to the same quarter last year.
Several other research firms have also recently weighed in on LUV. Deutsche Bank Aktiengesellschaft raised Southwest Airlines from a "hold" rating to a "buy" rating and raised their price target for the company from $28.00 to $42.00 in a report on Tuesday, February 20th. StockNews.com cut Southwest Airlines from a "hold" rating to a "sell" rating in a report on Friday, April 12th. JPMorgan Chase & Co. raised their price target on Southwest Airlines from $24.00 to $29.00 and gave the company a "neutral" rating in a report on Friday, January 26th. UBS Group initiated coverage on Southwest Airlines in a report on Wednesday, March 20th. They issued a "buy" rating and a $36.00 price target on the stock. Finally, Barclays lowered their price target on Southwest Airlines from $32.00 to $30.00 and set an "equal weight" rating on the stock in a report on Friday, April 5th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Southwest Airlines presently has an average rating of "Hold" and a consensus target price of $31.82.
Check Out Our Latest Analysis on Southwest Airlines
Southwest Airlines Price Performance
Shares of NYSE:LUV traded up $0.73 on Wednesday, hitting $28.78. The company's stock had a trading volume of 7,943,888 shares, compared to its average volume of 8,387,864. The company has a 50-day simple moving average of $30.96 and a 200 day simple moving average of $28.46. Southwest Airlines has a 1 year low of $21.91 and a 1 year high of $39.53. The company has a market capitalization of $17.22 billion, a PE ratio of 38.37, a PEG ratio of 0.96 and a beta of 1.15. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 1.07.
Southwest Airlines Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.72 dividend on an annualized basis and a yield of 2.50%. Southwest Airlines's dividend payout ratio (DPR) is currently 96.00%.
Hedge Funds Weigh In On Southwest Airlines
A number of large investors have recently bought and sold shares of LUV. Hexagon Capital Partners LLC increased its stake in Southwest Airlines by 374.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 858 shares of the airline's stock worth $25,000 after purchasing an additional 677 shares during the period. Capital Advisors Ltd. LLC grew its position in shares of Southwest Airlines by 82.8% in the 4th quarter. Capital Advisors Ltd. LLC now owns 914 shares of the airline's stock worth $26,000 after buying an additional 414 shares during the last quarter. Quarry LP bought a new stake in shares of Southwest Airlines in the 4th quarter worth approximately $26,000. First Horizon Advisors Inc. bought a new stake in shares of Southwest Airlines in the 4th quarter worth approximately $29,000. Finally, ICA Group Wealth Management LLC bought a new stake in shares of Southwest Airlines in the 4th quarter worth approximately $29,000. 80.82% of the stock is owned by hedge funds and other institutional investors.
Southwest Airlines Company Profile
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Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten 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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