Southwest Airlines Co. (LUV) Given New $57.00 Price Target at Imperial Capital
Southwest Airlines Co. (NYSE:LUV) had its price target hoisted by Imperial Capital from $46.00 to $57.00 in a research report sent to investors on Tuesday. The brokerage currently has an outperform rating on the airline’s stock.
Several other brokerages have also commented on LUV. Bank of America Corp. set a $50.00 price objective on shares of Southwest Airlines and gave the stock a buy rating in a report on Saturday, October 1st. Vetr upgraded shares of Southwest Airlines from a hold rating to a buy rating and set a $38.00 target price for the company in a report on Monday, August 15th. Citigroup Inc. began coverage on shares of Southwest Airlines in a report on Friday, November 18th. They set a buy rating and a $57.00 target price for the company. Finally, JPMorgan Chase & Co. upgraded shares of Southwest Airlines from a neutral rating to an overweight rating and set a $51.50 target price for the company in a report on Thursday, October 27th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Southwest Airlines has a consensus rating of Buy and an average price target of $50.42.
Southwest Airlines (NYSE:LUV) traded down 0.732% during trading on Tuesday, hitting $46.755. The stock had a trading volume of 1,544,251 shares. The company has a market capitalization of $28.78 billion, a P/E ratio of 13.290 and a beta of 0.86. Southwest Airlines has a 1-year low of $33.96 and a 1-year high of $51.34. The stock’s 50-day moving average price is $41.88 and its 200-day moving average price is $39.93.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Wednesday, October 26th. The airline reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.05. Southwest Airlines had a net margin of 11.09% and a return on equity of 32.51%. The business earned $5.10 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same period last year, the business posted $0.94 earnings per share. Southwest Airlines’s quarterly revenue was down 3.4% compared to the same quarter last year. Analysts expect that Southwest Airlines will post $3.66 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 5th. Stockholders of record on Thursday, December 8th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, December 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.85%. Southwest Airlines’s dividend payout ratio (DPR) is presently 11.40%.
Hedge funds have recently bought and sold shares of the company. Phocas Financial Corp. purchased a new position in shares of Southwest Airlines during the first quarter valued at approximately $343,000. Cypress Capital Group increased its position in shares of Southwest Airlines by 251.3% in the first quarter. Cypress Capital Group now owns 39,056 shares of the airline’s stock valued at $1,750,000 after buying an additional 27,938 shares during the last quarter. First Republic Investment Management Inc. increased its position in shares of Southwest Airlines by 97.8% in the first quarter. First Republic Investment Management Inc. now owns 1,151,824 shares of the airline’s stock valued at $51,602,000 after buying an additional 569,576 shares during the last quarter. Sterneck Capital Management LLC purchased a new position in shares of Southwest Airlines during the first quarter valued at approximately $419,000. Finally, Origin Asset Management LLP increased its position in shares of Southwest Airlines by 39.2% in the first quarter. Origin Asset Management LLP now owns 167,029 shares of the airline’s stock valued at $7,483,000 after buying an additional 47,029 shares during the last quarter. Hedge funds and other institutional investors own 78.51% of the company’s stock.
About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines. Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves approximately 100 destinations in over 40 states, such as the District of Columbia, the Commonwealth of Puerto Rico, and approximately seven near-international countries, including Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, and Belize.
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