Southwest Airlines Company (LUV) Expected to Post Quarterly Sales of $5.21 Billion
Wall Street analysts expect that Southwest Airlines Company (NYSE:LUV) will announce $5.21 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Southwest Airlines’ earnings, with estimates ranging from $5.19 billion to $5.22 billion. Southwest Airlines posted sales of $5.08 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 2.6%. The firm is expected to report its next quarterly earnings results on Thursday, January 25th.
According to Zacks, analysts expect that Southwest Airlines will report full year sales of $5.21 billion for the current fiscal year, with estimates ranging from $21.09 billion to $21.12 billion. For the next fiscal year, analysts expect that the business will report sales of $22.52 billion per share, with estimates ranging from $22.29 billion to $22.86 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Southwest Airlines.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, October 26th. The airline reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01. Southwest Airlines had a net margin of 10.12% and a return on equity of 24.85%. The firm had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the previous year, the firm earned $0.93 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year.
LUV has been the topic of several research analyst reports. Citigroup Inc. reissued a “buy” rating and issued a $64.00 target price (down previously from $65.00) on shares of Southwest Airlines in a report on Thursday, September 7th. Cowen and Company reissued a “buy” rating and issued a $67.00 target price on shares of Southwest Airlines in a report on Friday, September 1st. Morgan Stanley set a $64.00 target price on shares of Southwest Airlines and gave the stock a “buy” rating in a report on Thursday, August 17th. Vetr downgraded shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating and set a $59.16 target price on the stock. in a report on Friday, September 22nd. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $71.00 price target on shares of Southwest Airlines in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $67.00.
In other news, Director John T. Montford sold 935 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $53.94, for a total value of $50,433.90. Following the transaction, the director now directly owns 25,000 shares in the company, valued at $1,348,500. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.21% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. grew its holdings in shares of Southwest Airlines by 13.1% in the second quarter. Ameriprise Financial Inc. now owns 8,836,067 shares of the airline’s stock worth $549,016,000 after purchasing an additional 1,026,892 shares during the last quarter. Boston Partners grew its holdings in shares of Southwest Airlines by 101.7% in the third quarter. Boston Partners now owns 4,980,739 shares of the airline’s stock worth $278,822,000 after purchasing an additional 2,511,258 shares during the last quarter. APG Asset Management N.V. grew its holdings in shares of Southwest Airlines by 16.8% in the third quarter. APG Asset Management N.V. now owns 4,592,536 shares of the airline’s stock worth $257,090,000 after purchasing an additional 660,500 shares during the last quarter. Thrivent Financial For Lutherans grew its holdings in shares of Southwest Airlines by 35.6% in the second quarter. Thrivent Financial For Lutherans now owns 4,150,288 shares of the airline’s stock worth $257,901,000 after purchasing an additional 1,090,189 shares during the last quarter. Finally, Rockefeller Financial Services Inc. grew its holdings in shares of Southwest Airlines by 4.0% in the third quarter. Rockefeller Financial Services Inc. now owns 3,193,405 shares of the airline’s stock worth $178,766,000 after purchasing an additional 121,447 shares during the last quarter. Hedge funds and other institutional investors own 80.15% of the company’s stock.
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Southwest Airlines (NYSE:LUV) traded down $0.56 during mid-day trading on Tuesday, hitting $54.71. 3,104,575 shares of the stock traded hands, compared to its average volume of 5,211,814. Southwest Airlines has a 1 year low of $44.70 and a 1 year high of $64.39. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.61 and a quick ratio of 0.55. The stock has a market capitalization of $32,800.00, a P/E ratio of 15.49, a PEG ratio of 1.78 and a beta of 1.31.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Thursday, December 7th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Wednesday, December 6th. Southwest Airlines’s payout ratio is presently 14.33%.
Southwest Airlines Company Profile
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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