Imperial Capital Comments on Southwest Airlines Co’s Q1 2019 Earnings (LUV)
Southwest Airlines Co (NYSE:LUV) – Analysts at Imperial Capital dropped their Q1 2019 EPS estimates for shares of Southwest Airlines in a report released on Wednesday, March 20th. Imperial Capital analyst M. Derchin now expects that the airline will post earnings per share of $0.84 for the quarter, down from their prior estimate of $0.86. Imperial Capital currently has a “In-Line” rating and a $55.00 target price on the stock. Imperial Capital also issued estimates for Southwest Airlines’ Q2 2019 earnings at $1.66 EPS, FY2019 earnings at $5.15 EPS and FY2020 earnings at $5.50 EPS.
Other research analysts have also issued reports about the company. Goldman Sachs Group upped their price objective on Southwest Airlines to $49.00 and gave the company a “sell” rating in a report on Wednesday. Macquarie lowered Southwest Airlines from an “outperform” rating to a “neutral” rating in a report on Friday, February 22nd. Credit Suisse Group reaffirmed a “hold” rating and issued a $56.00 price objective (down from $60.00) on shares of Southwest Airlines in a report on Thursday, February 21st. Vertical Research initiated coverage on Southwest Airlines in a report on Monday, February 4th. They issued a “buy” rating on the stock. Finally, Cowen reissued a “market perform” rating and set a $58.00 target price (up from $54.00) on shares of Southwest Airlines in a report on Friday, January 25th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $61.29.
Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, January 24th. The airline reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.68 billion. Southwest Airlines had a return on equity of 24.56% and a net margin of 11.22%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.77 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, March 5th. This represents a $0.64 annualized dividend and a dividend yield of 1.29%. Southwest Airlines’s dividend payout ratio is currently 15.09%.
Several institutional investors and hedge funds have recently modified their holdings of LUV. Oregon Public Employees Retirement Fund raised its position in shares of Southwest Airlines by 3,711.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,546,074 shares of the airline’s stock worth $162,000 after acquiring an additional 7,348,070 shares during the last quarter. BlackRock Inc. grew its stake in Southwest Airlines by 8.5% during the fourth quarter. BlackRock Inc. now owns 28,978,210 shares of the airline’s stock worth $1,346,907,000 after purchasing an additional 2,282,027 shares during the period. Norges Bank acquired a new stake in Southwest Airlines during the fourth quarter worth approximately $105,239,000. Millennium Management LLC grew its stake in Southwest Airlines by 88.1% during the fourth quarter. Millennium Management LLC now owns 4,592,257 shares of the airline’s stock worth $213,448,000 after purchasing an additional 2,151,057 shares during the period. Finally, TIAA CREF Investment Management LLC grew its stake in Southwest Airlines by 110.8% during the third quarter. TIAA CREF Investment Management LLC now owns 3,496,061 shares of the airline’s stock worth $218,329,000 after purchasing an additional 1,837,517 shares during the period. Institutional investors own 79.77% of the company’s stock.
Southwest Airlines Company Profile
Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.
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