Southwest Airlines Company (NYSE:LUV) – Imperial Capital raised their Q4 2017 earnings per share (EPS) estimates for Southwest Airlines in a research note issued to investors on Monday. Imperial Capital analyst M. Derchin now anticipates that the airline will post earnings per share of $1.03 for the quarter, up from their prior forecast of $0.96. Imperial Capital has a “Outperform” rating on the stock.
Other equities research analysts have also issued reports about the stock. ValuEngine upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Vetr upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $63.80 target price for the company in a research note on Monday, June 5th. Deutsche Bank AG boosted their target price on shares of Southwest Airlines from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Stifel Nicolaus reiterated a “buy” rating and set a $80.00 target price on shares of Southwest Airlines in a research note on Friday, May 26th. Finally, Zacks Investment Research upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Tuesday, May 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $65.78.
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Southwest Airlines (NYSE:LUV) traded up 0.29% during mid-day trading on Tuesday, reaching $55.67. The company’s stock had a trading volume of 1,999,141 shares. The firm has a market cap of $33.62 billion, a PE ratio of 17.06 and a beta of 1.29. Southwest Airlines has a 12-month low of $35.42 and a 12-month high of $64.39. The company has a 50-day moving average price of $60.84 and a 200-day moving average price of $57.01.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, July 27th. The airline reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.04. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same period last year, the business posted $1.19 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis.
A number of large investors have recently modified their holdings of the company. First Command Financial Services Inc. raised its stake in shares of Southwest Airlines by 0.7% in the first quarter. First Command Financial Services Inc. now owns 7,485 shares of the airline’s stock worth $403,000 after buying an additional 50 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Southwest Airlines by 6.3% in the first quarter. Bank of Montreal Can now owns 6,230,147 shares of the airline’s stock worth $334,934,000 after buying an additional 367,801 shares during the last quarter. E&G Advisors LP raised its stake in shares of Southwest Airlines by 2.0% in the first quarter. E&G Advisors LP now owns 5,100 shares of the airline’s stock worth $274,000 after buying an additional 100 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Southwest Airlines by 0.5% in the first quarter. Quadrant Capital Group LLC now owns 3,488 shares of the airline’s stock worth $184,000 after buying an additional 16 shares during the last quarter. Finally, Koshinski Asset Management Inc. acquired a new stake in shares of Southwest Airlines during the first quarter worth about $246,000. Institutional investors and hedge funds own 79.82% of the company’s stock.
In other Southwest Airlines news, EVP Jeff Lamb sold 19,800 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $61.00, for a total value of $1,207,800.00. Following the completion of the sale, the executive vice president now owns 92,468 shares in the company, valued at approximately $5,640,548. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO De Ven Michael G. Van sold 15,273 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $57.14, for a total value of $872,699.22. Following the completion of the sale, the chief operating officer now owns 182,302 shares of the company’s stock, valued at approximately $10,416,736.28. The disclosure for this sale can be found here. Insiders sold a total of 118,740 shares of company stock valued at $6,923,568 in the last quarter. 0.18% of the stock is currently owned by company insiders.
Southwest Airlines declared that its board has approved a stock repurchase plan on Wednesday, May 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the airline to reacquire up to 5.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.
Southwest Airlines Company Profile
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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