Seaport Res Ptn Analysts Lift Earnings Estimates for Southwest Airlines Co. (NYSE:LUV)

Southwest Airlines Co. (NYSE:LUV – Get Rating) – Investment analysts at Seaport Res Ptn boosted their Q2 2023 earnings estimates for Southwest Airlines in a research note issued on Tuesday, March 14th. Seaport Res Ptn analyst D. Mckenzie now forecasts that the airline will post earnings per share of $1.15 for the quarter, up from their prior estimate of $1.05. The consensus estimate for Southwest Airlines’ current full-year earnings is $2.68 per share. Seaport Res Ptn also issued estimates for Southwest Airlines’ Q3 2023 earnings at $1.05 EPS.

Southwest Airlines (NYSE:LUV – Get Rating) last issued its quarterly earnings data on Thursday, January 26th. The airline reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.35). Southwest Airlines had a return on equity of 6.71% and a net margin of 2.26%. The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.14 billion. During the same period last year, the business earned $0.14 earnings per share. The company’s revenue for the quarter was up 22.2% on a year-over-year basis.

A number of other analysts have also issued reports on LUV. StockNews.com began coverage on shares of Southwest Airlines in a research report on Thursday. They set a “hold” rating on the stock. The Goldman Sachs Group assumed coverage on shares of Southwest Airlines in a report on Friday, December 16th. They issued a “neutral” rating and a $41.00 price target on the stock. Barclays lowered shares of Southwest Airlines from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $42.00 to $38.00 in a report on Friday, March 10th. Susquehanna downgraded shares of Southwest Airlines from a “positive” rating to a “neutral” rating and set a $40.00 target price on the stock. in a research note on Wednesday, January 11th. Finally, Redburn Partners downgraded shares of Southwest Airlines from a “buy” rating to a “neutral” rating and set a $40.00 target price on the stock. in a research note on Wednesday, February 8th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.27.

Southwest Airlines Stock Down 1.5 %

Shares of NYSE LUV opened at $30.03 on Friday. Southwest Airlines has a 1 year low of $29.41 and a 1 year high of $50.10. The firm’s 50 day moving average price is $34.79 and its 200 day moving average price is $35.42. The firm has a market cap of $17.85 billion, a P/E ratio of 37.54, a price-to-earnings-growth ratio of 0.42 and a beta of 1.15. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.35 and a current ratio of 1.43.

Southwest Airlines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 29th. Shareholders of record on Wednesday, March 8th will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, March 7th. This represents a $0.72 annualized dividend and a yield of 2.40%. Southwest Airlines’s payout ratio is 90.00%.

Hedge Funds Weigh In On Southwest Airlines

Several large investors have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. boosted its position in shares of Southwest Airlines by 16.2% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 18,709 shares of the airline’s stock valued at $630,000 after purchasing an additional 2,611 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Southwest Airlines by 203.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 247,105 shares of the airline’s stock worth $8,319,000 after purchasing an additional 165,571 shares during the period. Leading Edge Financial Planning LLC acquired a new stake in shares of Southwest Airlines during the fourth quarter worth approximately $398,000. Wallace Advisory Group LLC acquired a new stake in shares of Southwest Airlines during the fourth quarter worth approximately $236,000. Finally, Coppell Advisory Solutions Corp. acquired a new stake in shares of Southwest Airlines during the fourth quarter worth approximately $46,000. Institutional investors own 74.71% of the company’s stock.

About Southwest Airlines

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Southwest Airlines Co engages in the operation and management of a passenger airline. The firm also offers ancillary services such as early bird check-in, upgraded boarding, and transportation of pets and unaccompanied minors. It operates in the United States, the Commonwealth of Puerto Rico, Mexico, Jamaica, the Bahamas, Aruba, Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.