Q2 2024 EPS Estimates for Southwest Airlines Co. (NYSE:LUV) Lowered by Seaport Res Ptn

Southwest Airlines Co. (NYSE:LUV) – Stock analysts at Seaport Res Ptn cut their Q2 2024 earnings per share estimates for Southwest Airlines in a research report issued to clients and investors on Thursday, June 27th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the airline will earn $0.37 per share for the quarter, down from their previous estimate 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.

Other analysts have also recently issued research reports about the company. Sanford C. Bernstein dropped their price objective on Southwest Airlines from $27.00 to $26.00 and set a “market perform” rating on the stock in a report on Monday, May 6th. Citigroup increased their price objective on Southwest Airlines from $27.50 to $29.00 and gave the stock a “neutral” rating in a report on Monday, June 17th. Susquehanna dropped their price objective on Southwest Airlines from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th. Raymond James reissued an “outperform” rating and set a $30.00 price objective (down previously from $33.00) on shares of Southwest Airlines in a report on Friday, April 26th. Finally, Barclays decreased their target price on Southwest Airlines from $30.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Five equities research 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.83.

Southwest Airlines Stock Up 0.6 %

Shares of NYSE LUV opened at $28.29 on Monday. Southwest Airlines has a one year low of $21.91 and a one year high of $39.53. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.09 and a quick ratio of 1.02. The business’s fifty day moving average price is $27.69 and its 200-day moving average price is $29.38. The stock has a market capitalization of $16.93 billion, a PE ratio of 44.90, a P/E/G ratio of 1.88 and a beta of 1.15.

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

Southwest Airlines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Wednesday, June 19th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.55%. The ex-dividend date is Tuesday, June 18th. Southwest Airlines’s dividend payout ratio (DPR) is currently 114.29%.

Institutional Investors Weigh In On Southwest Airlines

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hexagon Capital Partners LLC lifted its stake in shares of Southwest Airlines by 374.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 858 shares of the airline’s stock valued at $25,000 after purchasing an additional 677 shares during the period. Capital Advisors Ltd. LLC increased its position in Southwest Airlines by 82.8% during the 4th quarter. Capital Advisors Ltd. LLC now owns 914 shares of the airline’s stock valued at $26,000 after buying an additional 414 shares in the last quarter. First Horizon Advisors Inc. bought a new position in Southwest Airlines during the 4th quarter valued at approximately $29,000. ICA Group Wealth Management LLC bought a new position in Southwest Airlines during the 4th quarter valued at approximately $29,000. Finally, Pineridge Advisors LLC bought a new position in Southwest Airlines during the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 80.82% of the company’s stock.

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.