Imperial Capital Comments on Southwest Airlines Co’s FY2020 Earnings (LUV)
Southwest Airlines Co (NYSE:LUV) – Stock analysts at Imperial Capital issued their FY2020 earnings per share estimates for Southwest Airlines in a note issued to investors on Tuesday, December 4th. Imperial Capital analyst M. Derchin expects that the airline will earn $5.60 per share for the year. Imperial Capital has a “In-Line” rating and a $62.00 price objective on the stock.
A number of other research analysts have also commented on the company. Citigroup increased their price objective on Southwest Airlines from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, November 29th. Susquehanna Bancshares initiated coverage on Southwest Airlines in a research report on Wednesday, November 28th. They issued a “neutral” rating and a $56.00 price target on the stock. Credit Suisse Group initiated coverage on Southwest Airlines in a research report on Monday, November 19th. They issued a “neutral” rating and a $54.00 price target on the stock. Morgan Stanley reduced their price target on Southwest Airlines from $68.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 14th. Finally, Goldman Sachs Group initiated coverage on Southwest Airlines in a research report on Monday, November 12th. They issued a “neutral” rating and a $61.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $65.38.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, October 25th. The airline reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.02. The firm had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.56 billion. Southwest Airlines had a return on equity of 22.27% and a net margin of 17.18%. During the same period last year, the company earned $0.88 EPS.
A number of institutional investors have recently modified their holdings of the stock. Matthew Goff Investment Advisor LLC acquired a new stake in Southwest Airlines during the 3rd quarter worth $325,000. Legal & General Group Plc raised its stake in Southwest Airlines by 0.7% during the 3rd quarter. Legal & General Group Plc now owns 923,487 shares of the airline’s stock worth $57,676,000 after buying an additional 5,999 shares during the period. Impala Asset Management LLC raised its stake in Southwest Airlines by 5,662.8% during the 3rd quarter. Impala Asset Management LLC now owns 1,710,796 shares of the airline’s stock worth $106,839,000 after buying an additional 1,681,109 shares during the period. Nordea Investment Management AB raised its stake in Southwest Airlines by 13.1% during the 3rd quarter. Nordea Investment Management AB now owns 231,510 shares of the airline’s stock worth $14,458,000 after buying an additional 26,793 shares during the period. Finally, TIAA CREF Investment Management LLC raised its stake in Southwest Airlines by 110.8% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 3,496,061 shares of the airline’s stock worth $218,329,000 after buying an additional 1,837,517 shares during the period. 79.44% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director John T. Montford sold 956 shares of the firm’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $52.35, for a total transaction of $50,046.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.23% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Wednesday, December 5th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.21%. The ex-dividend date is Tuesday, December 4th. Southwest Airlines’s payout ratio is presently 18.29%.
About Southwest Airlines
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, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 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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