$1.19 EPS Expected for Southwest Airlines Company (LUV) This Quarter
Brokerages predict that Southwest Airlines Company (NYSE:LUV) will announce $1.19 earnings per share for the current quarter, according to Zacks. Four analysts have issued estimates for Southwest Airlines Company’s earnings, with estimates ranging from $1.16 to $1.23. Southwest Airlines Company also reported earnings of $1.19 per share during the same quarter last year. The company is expected to issue its next earnings results before the market opens on Thursday, July 27th.
According to Zacks, analysts expect that Southwest Airlines Company will report full year earnings of $3.85 per share for the current fiscal year, with EPS estimates ranging from $3.70 to $4.00. For the next year, analysts expect that the firm will post earnings of $4.70 per share, with EPS estimates ranging from $4.00 to $5.24. Zacks’ EPS calculations are an average based on a survey of analysts that cover Southwest Airlines Company.
Southwest Airlines Company (NYSE:LUV) last issued its quarterly earnings data on Thursday, April 27th. The airline reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.91 billion. Southwest Airlines Company had a net margin of 10.16% and a return on equity of 26.75%. Southwest Airlines Company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 EPS.
Several equities research analysts have commented on LUV shares. Morgan Stanley restated an “overweight” rating on shares of Southwest Airlines Company in a research report on Friday, April 7th. Vetr upgraded Southwest Airlines Company from a “hold” rating to a “buy” rating and set a $63.80 price objective on the stock in a research report on Monday, June 5th. ValuEngine upgraded Southwest Airlines Company from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Cowen and Company upped their price objective on Southwest Airlines Company from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, April 28th. Finally, Imperial Capital upped their price objective on Southwest Airlines Company from $63.00 to $68.00 and gave the stock an “outperform” rating in a research report on Friday, April 28th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $61.76.
Shares of Southwest Airlines Company (NYSE:LUV) traded down 0.32% during trading on Monday, reaching $61.72. 4,256,268 shares of the company traded hands. The firm’s 50-day moving average is $59.15 and its 200-day moving average is $54.80. Southwest Airlines Company has a 12-month low of $35.42 and a 12-month high of $62.75. The stock has a market capitalization of $37.32 billion, a PE ratio of 18.51 and a beta of 1.26.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 28th. Investors of record on Wednesday, June 7th will be paid a $0.125 dividend. This is an increase from Southwest Airlines Company’s previous quarterly dividend of $0.10. This represents a $0.50 annualized dividend and a yield of 0.81%. The ex-dividend date is Monday, June 5th. Southwest Airlines Company’s dividend payout ratio is currently 15.11%.
In related news, SVP Mark R. Shaw sold 3,823 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $59.13, for a total value of $226,053.99. Following the completion of the transaction, the senior vice president now directly owns 7,784 shares of the company’s stock, valued at approximately $460,267.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Gary C. Kelly sold 51,000 shares of the stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $57.06, for a total value of $2,910,060.00. Following the completion of the transaction, the chairman now directly owns 556,808 shares of the company’s stock, valued at $31,771,464.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 118,740 shares of company stock valued at $6,923,568. 0.18% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Southwest Airlines Company by 4,163.3% in the first quarter. BlackRock Inc. now owns 34,983,319 shares of the airline’s stock valued at $1,880,703,000 after buying an additional 34,162,752 shares in the last quarter. Ameriprise Financial Inc. increased its position in Southwest Airlines Company by 80.3% in the first quarter. Ameriprise Financial Inc. now owns 7,809,175 shares of the airline’s stock valued at $419,796,000 after buying an additional 3,477,912 shares in the last quarter. Egerton Capital UK LLP increased its position in Southwest Airlines Company by 39.0% in the first quarter. Egerton Capital UK LLP now owns 9,401,341 shares of the airline’s stock valued at $505,416,000 after buying an additional 2,638,743 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in Southwest Airlines Company by 8,363.9% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 1,852,840 shares of the airline’s stock valued at $99,609,000 after buying an additional 1,830,949 shares in the last quarter. Finally, Putnam Investments LLC increased its position in Southwest Airlines Company by 180.6% in the fourth quarter. Putnam Investments LLC now owns 2,739,400 shares of the airline’s stock valued at $136,532,000 after buying an additional 1,763,174 shares in the last quarter. 80.58% of the stock is owned by hedge funds and other institutional investors.
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About Southwest Airlines Company
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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