Southwest Airlines Co. (NYSE:LUV) was upgraded by analysts at Vetr from a “sell” rating to a “hold” rating in a research report issued on Thursday. The firm presently has a $46.22 price objective on the airline’s stock. Vetr‘s price objective would suggest a potential downside of 2.43% from the company’s previous close.
Several other research firms have also weighed in on LUV. Bank of America Corp. set a $50.00 price objective on shares of Southwest Airlines and gave the company a “buy” rating in a research report on Saturday, October 1st. Citigroup Inc. started coverage on shares of Southwest Airlines in a research report on Friday, November 18th. They set a “buy” rating and a $57.00 price objective for the company. Imperial Capital started coverage on shares of Southwest Airlines in a research report on Friday, September 9th. They set an “outperform” rating and a $46.00 price objective for the company. Zacks Investment Research raised shares of Southwest Airlines from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised shares of Southwest Airlines from a “neutral” rating to an “overweight” rating and set a $51.50 price objective for the company in a research note on Thursday, October 27th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $50.70.
Shares of Southwest Airlines (NYSE:LUV) traded up 0.57% on Thursday, reaching $47.37. 5,317,703 shares of the company’s stock traded hands. The company has a 50 day moving average of $42.11 and a 200-day moving average of $39.99. Southwest Airlines has a 52 week low of $33.96 and a 52 week high of $51.34. The stock has a market capitalization of $29.16 billion, a PE ratio of 13.47 and a beta of 0.86.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Wednesday, October 26th. The airline reported $0.93 earnings per share for the quarter, beating 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 company earned $5.10 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same quarter last year, the firm posted $0.94 EPS. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. Equities research analysts forecast that Southwest Airlines will post $3.66 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 5th. Shareholders of record on Thursday, December 8th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, December 6th. This represents a $0.40 annualized dividend and a yield of 0.84%. Southwest Airlines’s dividend payout ratio (DPR) is presently 11.40%.
Institutional investors have recently made changes to their positions in the stock. First Manhattan Co. bought a new position in shares of Southwest Airlines during the second quarter valued at approximately $18,762,000. Balasa Dinverno & Foltz LLC bought a new stake in shares of Southwest Airlines during the second quarter valued at about $244,000. Douglass Winthrop Advisors LLC increased its stake in shares of Southwest Airlines by 8.2% in the second quarter. Douglass Winthrop Advisors LLC now owns 18,560 shares of the airline’s stock valued at $706,000 after buying an additional 1,400 shares during the last quarter. Capstone Asset Management Co. increased its stake in shares of Southwest Airlines by 5.9% in the second quarter. Capstone Asset Management Co. now owns 62,364 shares of the airline’s stock valued at $2,445,000 after buying an additional 3,472 shares during the last quarter. Finally, Saddle Road Partners LLC bought a new stake in shares of Southwest Airlines during the second quarter valued at about $558,000. Institutional investors own 78.51% of the company’s stock.
Southwest Airlines Company Profile
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.