Southwest Airlines Co to Issue Quarterly Dividend of $0.18 (NYSE:LUV)
Southwest Airlines Co (NYSE:LUV) declared a quarterly dividend on Wednesday, July 31st, RTT News reports. Stockholders of record on Wednesday, August 21st will be given a dividend of 0.18 per share by the airline on Wednesday, September 11th. This represents a $0.72 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Tuesday, August 20th.
Southwest Airlines has increased its dividend payment by an average of 28.3% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Southwest Airlines has a dividend payout ratio of 17.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Southwest Airlines to earn $5.13 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 14.0%.
Southwest Airlines stock opened at $49.79 on Monday. The business has a 50 day moving average of $51.63 and a 200-day moving average of $52.41. Southwest Airlines has a 1 year low of $44.28 and a 1 year high of $64.02. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.64 and a quick ratio of 0.59. The company has a market capitalization of $25.91 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.06 and a beta of 1.50.
Several research analysts have recently issued reports on the company. Barclays lowered their price objective on Southwest Airlines from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Argus downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Morgan Stanley decreased their target price on shares of Southwest Airlines from $64.00 to $59.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Imperial Capital reissued an “in-line” rating and set a $55.00 target price (up previously from $52.00) on shares of Southwest Airlines in a research report on Friday, April 26th. Finally, Cowen reissued a “market perform” rating and set a $57.00 target price (up previously from $55.00) on shares of Southwest Airlines in a research report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $57.15.
Southwest Airlines Company Profile
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, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 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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