Southwest Airlines Company (LUV) to Post FY2017 Earnings of $3.62 Per Share, Imperial Capital Forecasts
Southwest Airlines Company (NYSE:LUV) – Investment analysts at Imperial Capital lifted their FY2017 earnings per share estimates for shares of Southwest Airlines in a research report issued on Wednesday. Imperial Capital analyst M. Derchin now forecasts that the airline will post earnings per share of $3.62 for the year, up from their previous forecast of $3.60. Imperial Capital also issued estimates for Southwest Airlines’ Q4 2017 earnings at $0.90 EPS and FY2018 earnings at $4.85 EPS.
Other research analysts also recently issued reports about the company. Vetr downgraded Southwest Airlines from a “buy” rating to a “hold” rating and set a $59.16 price objective on the stock. in a research note on Wednesday, October 4th. Zacks Investment Research downgraded Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Raymond James Financial raised Southwest Airlines from a “market perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research note on Wednesday, September 20th. Barclays reaffirmed a “hold” rating and issued a $61.00 target price on shares of Southwest Airlines in a report on Thursday, September 14th. Finally, Citigroup reaffirmed 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. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the stock. Southwest Airlines has an average rating of “Buy” and a consensus price target of $66.89.
Southwest Airlines (NYSE LUV) opened at $64.70 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.46. Southwest Airlines has a one year low of $48.71 and a one year high of $64.92. The firm has a market capitalization of $38,900.00, a P/E ratio of 18.40, a P/E/G ratio of 2.11 and a beta of 1.34.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, October 26th. The airline reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.01. Southwest Airlines had a return on equity of 24.85% and a net margin of 10.12%. The business had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same period last year, the business earned $0.93 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders 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 yield of 0.77%. The ex-dividend date of this dividend is Wednesday, December 6th. Southwest Airlines’s dividend payout ratio (DPR) is currently 14.33%.
In other news, Director John T. Montford sold 1,695 shares of Southwest Airlines stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $63.27, for a total transaction of $107,242.65. Following the sale, the director now owns 23,098 shares of the company’s stock, valued at approximately $1,461,410.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John T. Montford sold 935 shares of Southwest Airlines stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $53.94, for a total value of $50,433.90. Following the sale, the director now directly owns 25,000 shares in the company, valued at approximately $1,348,500. The disclosure for this sale can be found here. Insiders have sold a total of 2,662 shares of company stock worth $159,563 in the last three months. 0.21% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the company. BB&T Investment Services Inc. grew its holdings in shares of Southwest Airlines by 325.5% during the 3rd quarter. BB&T Investment Services Inc. now owns 1,583 shares of the airline’s stock worth $110,000 after purchasing an additional 1,211 shares in the last quarter. BDO Wealth Advisors LLC acquired a new stake in Southwest Airlines in the 2nd quarter valued at $102,000. Pittenger & Anderson Inc. boosted its stake in Southwest Airlines by 13.5% in the 2nd quarter. Pittenger & Anderson Inc. now owns 2,100 shares of the airline’s stock valued at $130,000 after buying an additional 250 shares in the last quarter. Grove Bank & Trust boosted its stake in Southwest Airlines by 365.0% in the 3rd quarter. Grove Bank & Trust now owns 2,395 shares of the airline’s stock valued at $134,000 after buying an additional 1,880 shares in the last quarter. Finally, Harfst & Associates Inc. boosted its stake in Southwest Airlines by 43.8% in the 2nd quarter. Harfst & Associates Inc. now owns 2,402 shares of the airline’s stock valued at $149,000 after buying an additional 732 shares in the last quarter. 78.87% of the stock is currently owned by institutional investors.
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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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