Southwest Airlines Co. (NYSE:LUV – Get Free Report) announced a quarterly dividend on Wednesday, July 31st, RTT News reports. Stockholders of record on Wednesday, September 4th will be given a dividend of 0.18 per share by the airline on Wednesday, September 25th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Wednesday, September 4th.
Southwest Airlines has raised its dividend by an average of 71.0% per year over the last three years. Southwest Airlines has a dividend payout ratio of 55.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Southwest Airlines to earn $1.29 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 55.8%.
Southwest Airlines Stock Performance
LUV stock opened at $28.92 on Monday. The stock has a market capitalization of $17.33 billion, a PE ratio of 45.90, a price-to-earnings-growth ratio of 27.27 and a beta of 1.15. Southwest Airlines has a 12-month low of $21.91 and a 12-month high of $35.18. The company has a current ratio of 0.90, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48. The stock’s 50 day simple moving average is $27.17 and its 200 day simple moving average is $28.48.
Analysts Set New Price Targets
LUV has been the topic of several recent research reports. Barclays raised their price objective on Southwest Airlines from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. HSBC began coverage on Southwest Airlines in a research report on Monday, May 13th. They set a “hold” rating and a $27.80 target price for the company. Argus restated a “hold” rating on shares of Southwest Airlines in a report on Tuesday, May 28th. TD Cowen cut their price target on Southwest Airlines from $26.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, July 17th. Finally, Melius restated a “sell” rating and set a $26.00 price target on shares of Southwest Airlines in a report on Monday, June 10th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Southwest Airlines presently has an average rating of “Hold” and a consensus target price of $28.38.
Check Out Our Latest Report on LUV
About Southwest Airlines
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.
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