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

Southwest Airlines Co. (NYSE:LUVGet 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:LUVGet 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.

Further Reading

Earnings History and Estimates for Southwest Airlines (NYSE:LUV)

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