Southwest Airlines Co (NYSE:LUV) – Equities researchers at Imperial Capital increased their Q3 2018 earnings per share (EPS) estimates for shares of Southwest Airlines in a research note issued to investors on Thursday. Imperial Capital analyst M. Derchin now anticipates that the airline will earn $1.42 per share for the quarter, up from their prior forecast of $1.35. Imperial Capital also issued estimates for Southwest Airlines’ Q4 2018 earnings at $1.34 EPS.
Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, January 25th. The airline reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.01. Southwest Airlines had a net margin of 16.48% and a return on equity of 23.43%. The company had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.25 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year.
A number of other equities research analysts also recently issued reports on LUV. Vetr downgraded shares of Southwest Airlines from a “sell” rating to a “strong sell” rating and set a $54.06 price objective for the company. in a research report on Tuesday, December 5th. JPMorgan Chase & Co. downgraded shares of Southwest Airlines from an “overweight” rating to a “neutral” rating and set a $70.00 price objective for the company. in a research report on Tuesday, January 30th. Zacks Investment Research raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Tuesday, January 30th. Atlantic Securities raised shares of Southwest Airlines from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $48.71 to $71.00 in a research report on Thursday, December 14th. Finally, Cowen reaffirmed a “buy” rating and issued a $67.00 price objective on shares of Southwest Airlines in a research report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company. Southwest Airlines has a consensus rating of “Buy” and a consensus target price of $69.95.
Shares of Southwest Airlines (NYSE LUV) opened at $57.05 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.70 and a quick ratio of 0.64. Southwest Airlines has a fifty-two week low of $49.76 and a fifty-two week high of $66.99. The firm has a market cap of $33,971.81, a PE ratio of 9.79, a P/E/G ratio of 1.45 and a beta of 1.20.
Several institutional investors have recently added to or reduced their stakes in LUV. BB&T Investment Services Inc. boosted its holdings in Southwest Airlines by 325.5% in the 3rd quarter. BB&T Investment Services Inc. now owns 1,583 shares of the airline’s stock worth $110,000 after buying an additional 1,211 shares during the period. Cerebellum GP LLC bought a new position in Southwest Airlines in the 4th quarter worth approximately $127,000. Grove Bank & Trust boosted its holdings in Southwest Airlines by 365.0% in the 3rd quarter. Grove Bank & Trust now owns 2,395 shares of the airline’s stock worth $134,000 after buying an additional 1,880 shares during the period. SeaCrest Wealth Management LLC bought a new position in Southwest Airlines in the 4th quarter worth approximately $136,000. Finally, Delpha Capital Management LLC bought a new position in Southwest Airlines in the 4th quarter worth approximately $151,000. 80.03% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Douglas H. Brooks sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $60.05, for a total transaction of $600,500.00. Following the completion of the transaction, the director now directly owns 56,269 shares of the company’s stock, valued at approximately $3,378,953.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Gary C. Kelly sold 38,779 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $57.95, for a total transaction of $2,247,243.05. Following the transaction, the chairman now directly owns 581,029 shares of the company’s stock, valued at $33,670,630.55. The disclosure for this sale can be found here. Insiders have sold a total of 108,473 shares of company stock valued at $6,296,091 over the last three months. Insiders own 0.21% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 7th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Tuesday, March 6th. Southwest Airlines’s dividend payout ratio is currently 8.59%.
ILLEGAL ACTIVITY WARNING: “Q3 2018 EPS Estimates for Southwest Airlines Co (LUV) Raised by Imperial Capital” was first reported by Stock Observer and is the sole property of of Stock Observer. If you are reading this article on another site, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The correct version of this article can be viewed at https://www.thestockobserver.com/2018/03/23/q3-2018-eps-estimates-for-southwest-airlines-co-luv-raised-by-imperial-capital.html.
About Southwest Airlines
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.
Receive News & Ratings for Southwest Airlines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines and related companies with MarketBeat.com's FREE daily email newsletter.