$3.91 Billion in Sales Expected for Southwest Airlines Co. (NYSE:LUV) This Quarter

Equities analysts expect that Southwest Airlines Co. (NYSE:LUV) will post sales of $3.91 billion for the current fiscal quarter, according to Zacks. Eleven analysts have made estimates for Southwest Airlines’ earnings. The lowest sales estimate is $3.69 billion and the highest is $4.11 billion. Southwest Airlines reported sales of $1.01 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 287.1%. The business is scheduled to issue its next earnings results before the market opens on Thursday, July 22nd.

According to Zacks, analysts expect that Southwest Airlines will report full year sales of $15.68 billion for the current financial year, with estimates ranging from $15.09 billion to $16.65 billion. For the next financial year, analysts anticipate that the business will post sales of $21.60 billion, with estimates ranging from $19.67 billion to $24.13 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Southwest Airlines.

Southwest Airlines (NYSE:LUV) last posted its quarterly earnings results on Thursday, July 22nd. The airline reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The firm had revenue of $4.01 billion during the quarter, compared to analyst estimates of $3.94 billion. Southwest Airlines had a negative net margin of 41.71% and a negative return on equity of 46.10%. The company’s revenue was up 297.6% on a year-over-year basis. During the same period last year, the company earned ($2.67) EPS.

LUV has been the subject of a number of recent analyst reports. Zacks Investment Research raised Southwest Airlines from a “sell” rating to a “hold” rating and set a $65.00 price target for the company in a report on Wednesday, March 31st. Jefferies Financial Group raised their price target on Southwest Airlines from $55.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, March 30th. JPMorgan Chase & Co. upgraded Southwest Airlines from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $44.00 to $66.00 in a research report on Wednesday, April 14th. Morgan Stanley raised their price target on Southwest Airlines from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 15th. Finally, MKM Partners assumed coverage on Southwest Airlines in a research report on Thursday, June 10th. They issued a “buy” rating and a $74.00 price target on the stock. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $61.45.

Shares of LUV traded down $1.80 during mid-day trading on Friday, reaching $51.33. The company had a trading volume of 699,622 shares, compared to its average volume of 7,742,383. Southwest Airlines has a twelve month low of $30.24 and a twelve month high of $64.75. The company has a quick ratio of 1.91, a current ratio of 1.97 and a debt-to-equity ratio of 1.20. The stock’s 50-day moving average price is $56.43. The stock has a market cap of $30.35 billion, a P/E ratio of -10.76 and a beta of 1.23.

Several institutional investors have recently modified their holdings of LUV. Public Employees Retirement System of Ohio grew its stake in shares of Southwest Airlines by 29.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 295,250 shares of the airline’s stock worth $13,762,000 after purchasing an additional 66,586 shares during the last quarter. Financial Advocates Investment Management boosted its position in shares of Southwest Airlines by 14.6% during the 4th quarter. Financial Advocates Investment Management now owns 13,364 shares of the airline’s stock worth $623,000 after purchasing an additional 1,699 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Southwest Airlines by 16.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 560,085 shares of the airline’s stock worth $26,106,000 after acquiring an additional 79,897 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Southwest Airlines by 9.7% in the 4th quarter. Federated Hermes Inc. now owns 17,834 shares of the airline’s stock worth $831,000 after acquiring an additional 1,579 shares during the last quarter. Finally, Vantage Consulting Group Inc acquired a new stake in shares of Southwest Airlines in the 4th quarter worth about $73,000. 77.89% of the stock is currently owned by institutional investors.

About Southwest Airlines

Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2020, the company operated a total fleet of 718 Boeing 737 aircrafts; and served 107 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten 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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Earnings History and Estimates for Southwest Airlines (NYSE:LUV)

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