Southwest Airlines Co. (NYSE:LUV) to Post Q2 2022 Earnings of $1.15 Per Share, Jefferies Financial Group Forecasts

Southwest Airlines Co. (NYSE:LUV – Get Rating) – Equities research analysts at Jefferies Financial Group upped their Q2 2022 EPS estimates for Southwest Airlines in a research report issued on Monday, May 2nd. Jefferies Financial Group analyst S. Kahyaoglu now expects that the airline will post earnings per share of $1.15 for the quarter, up from their previous forecast of $0.45. Jefferies Financial Group also issued estimates for Southwest Airlines’ Q3 2022 earnings at $0.97 EPS, Q4 2022 earnings at $0.49 EPS, FY2022 earnings at $2.30 EPS, FY2023 earnings at $2.95 EPS, FY2024 earnings at $3.15 EPS and FY2025 earnings at $3.90 EPS.

Other equities research analysts have also recently issued research reports about the company. Raymond James increased their price objective on Southwest Airlines from $54.00 to $57.00 in a report on Friday, April 29th. JPMorgan Chase & Co. lifted their target price on Southwest Airlines from $62.00 to $72.00 in a research report on Friday, April 29th. Evercore ISI raised Southwest Airlines from an “in-line” rating to an “outperform” rating and set a $48.00 target price on the stock in a report on Thursday, March 3rd. Barclays cut their target price on Southwest Airlines from $59.00 to $55.00 in a research note on Thursday, April 7th. Finally, Citigroup boosted their price target on Southwest Airlines from $48.00 to $53.00 in a report on Monday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $53.88.

Shares of LUV opened at $48.07 on Thursday. The stock has a market capitalization of $28.50 billion, a price-to-earnings ratio of 51.14, a price-to-earnings-growth ratio of 3.57 and a beta of 0.92. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.81 and a current ratio of 1.87. The stock’s 50-day simple moving average is $44.10 and its 200 day simple moving average is $44.92. Southwest Airlines has a 52-week low of $36.75 and a 52-week high of $63.68.

Southwest Airlines (NYSE:LUV – Get Rating) last issued its earnings results on Thursday, April 28th. The airline reported ($0.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.02). Southwest Airlines had a negative return on equity of 4.39% and a net margin of 3.17%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the previous year, the firm posted ($1.72) earnings per share. The company’s revenue for the quarter was up 128.8% compared to the same quarter last year.

Hedge funds have recently modified their holdings of the company. Oldfield Partners LLP acquired a new stake in Southwest Airlines in the 1st quarter worth about $107,911,000. Scout Investments Inc. bought a new stake in shares of Southwest Airlines in the 1st quarter valued at $92,502,000. MFA Wealth Advisors LLC bought a new position in Southwest Airlines during the third quarter worth $1,328,000. Norges Bank bought a new position in shares of Southwest Airlines in the fourth quarter valued at $48,312,000. Finally, Crake Asset Management LLP increased its holdings in Southwest Airlines by 284.6% during the third quarter. Crake Asset Management LLP now owns 1,084,046 shares of the airline’s stock worth $55,752,000 after buying an additional 802,200 shares during the last quarter. 76.74% of the stock is owned by institutional investors.

Southwest Airlines Company Profile (Get Rating)

Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2021, the company operated a total fleet of 728 Boeing 737 aircrafts; and served 121 destinations in 42 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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