Q2 2024 EPS Estimates for Southwest Airlines Co. Cut by Analyst (NYSE:LUV)

Southwest Airlines Co. (NYSE:LUV) – Research analysts at Seaport Res Ptn dropped their Q2 2024 earnings per share (EPS) estimates for Southwest Airlines in a report issued on Thursday, June 27th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the airline will post earnings per share of $0.37 for the quarter, down from their previous forecast of $0.50. The consensus estimate for Southwest Airlines’ current full-year earnings is $0.95 per share. Seaport Res Ptn also issued estimates for Southwest Airlines’ Q3 2024 earnings at $0.25 EPS and FY2024 earnings at $0.93 EPS.

A number of other research analysts have also issued reports on LUV. Citigroup lifted their target price on Southwest Airlines from $27.50 to $29.00 and gave the company a “neutral” rating in a report on Monday, June 17th. Melius reissued a “sell” rating and set a $26.00 price objective on shares of Southwest Airlines in a research report on Monday, June 10th. HSBC initiated coverage on shares of Southwest Airlines in a report on Monday, May 13th. They issued a “hold” rating and a $27.80 target price on the stock. TD Cowen lowered their price target on shares of Southwest Airlines from $26.00 to $25.00 and set a “hold” rating for the company in a report on Friday, April 26th. Finally, Raymond James restated an “outperform” rating and issued a $30.00 price objective (down from $33.00) on shares of Southwest Airlines in a report on Friday, April 26th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Southwest Airlines has a consensus rating of “Hold” and an average price target of $29.83.

Southwest Airlines Price Performance

Southwest Airlines stock opened at $28.11 on Monday. The company’s 50 day moving average is $27.73 and its two-hundred day moving average is $29.39. The firm has a market cap of $16.82 billion, a PE ratio of 44.56, a price-to-earnings-growth ratio of 1.88 and a beta of 1.15. The company has a quick ratio of 1.02, a current ratio of 1.09 and a debt-to-equity ratio of 0.78. Southwest Airlines has a 52-week low of $21.91 and a 52-week high of $39.53.

Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Thursday, April 25th. The airline reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). The business had revenue of $6.33 billion for the quarter, compared to analysts’ expectations of $6.42 billion. Southwest Airlines had a return on equity of 8.91% and a net margin of 1.59%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.27) earnings per share.

Southwest Airlines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Wednesday, June 19th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.56%. Southwest Airlines’s dividend payout ratio (DPR) is presently 114.29%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its position in Southwest Airlines by 33.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 237,665 shares of the airline’s stock worth $6,434,000 after buying an additional 59,428 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Southwest Airlines by 75.1% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 10,768 shares of the airline’s stock valued at $291,000 after purchasing an additional 4,619 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Southwest Airlines by 37.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 36,004 shares of the airline’s stock worth $975,000 after purchasing an additional 9,806 shares during the period. Bank of Nova Scotia raised its stake in shares of Southwest Airlines by 8.0% during the 3rd quarter. Bank of Nova Scotia now owns 44,674 shares of the airline’s stock worth $1,209,000 after buying an additional 3,321 shares in the last quarter. Finally, Waverly Advisors LLC lifted its holdings in shares of Southwest Airlines by 4.3% in the 3rd quarter. Waverly Advisors LLC now owns 10,071 shares of the airline’s stock valued at $273,000 after buying an additional 419 shares during the period. 80.82% of the stock is currently owned by institutional investors and hedge funds.

Southwest Airlines Company Profile

Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; and served 121 destinations in 42 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.