Southwest Airlines Co. (LUV) To Go Ex-Dividend on December 6th
Southwest Airlines Co. (NYSE:LUV) declared a quarterly dividend on Thursday, November 17th. Stockholders of record on Thursday, December 8th will be given a dividend of 0.10 per share by the airline on Thursday, January 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Tuesday, December 6th.
Southwest Airlines (NYSE:LUV) opened at 46.61 on Thursday. Southwest Airlines has a 12-month low of $33.96 and a 12-month high of $51.34. The company has a market capitalization of $28.69 billion, a PE ratio of 13.25 and a beta of 0.86. The stock has a 50 day moving average of $43.09 and a 200-day moving average of $40.12.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Wednesday, October 26th. The airline reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.17 billion. Southwest Airlines had a return on equity of 32.51% and a net margin of 11.09%. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 EPS. Equities analysts expect that Southwest Airlines will post $3.66 earnings per share for the current year.
A number of brokerages have weighed in on LUV. Vetr upgraded Southwest Airlines from a “sell” rating to a “hold” rating and set a $46.22 price objective on the stock in a report on Thursday, November 24th. Zacks Investment Research upgraded Southwest Airlines from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 22nd. Imperial Capital raised their price objective on Southwest Airlines from $46.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, November 22nd. Citigroup Inc. began coverage on Southwest Airlines in a report on Friday, November 18th. They issued a “buy” rating and a $57.00 price objective on the stock. Finally, JPMorgan Chase & Co. upgraded Southwest Airlines from a “neutral” rating to an “overweight” rating and set a $51.50 price objective on the stock in a report on Thursday, October 27th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $50.70.
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A number of institutional investors have recently added to or reduced their stakes in the stock. King Luther Capital Management Corp increased its position in shares of Southwest Airlines by 0.7% in the second quarter. King Luther Capital Management Corp now owns 14,776 shares of the airline’s stock worth $579,000 after buying an additional 105 shares in the last quarter. Zurich Insurance Group Ltd FI increased its position in shares of Southwest Airlines by 2.6% in the second quarter. Zurich Insurance Group Ltd FI now owns 11,111 shares of the airline’s stock worth $436,000 after buying an additional 281 shares in the last quarter. Wetherby Asset Management Inc. increased its position in shares of Southwest Airlines by 3.7% in the second quarter. Wetherby Asset Management Inc. now owns 10,637 shares of the airline’s stock worth $417,000 after buying an additional 377 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Southwest Airlines by 3.7% in the second quarter. Ameritas Investment Partners Inc. now owns 12,627 shares of the airline’s stock worth $495,000 after buying an additional 446 shares in the last quarter. Finally, Bank of Nova Scotia increased its position in shares of Southwest Airlines by 4.7% in the second quarter. Bank of Nova Scotia now owns 12,744 shares of the airline’s stock worth $500,000 after buying an additional 570 shares in the last quarter. 75.66% of the stock is owned by institutional investors.
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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