Southwest Airlines Co. Expected to Post Q1 2024 Earnings of ($0.30) Per Share (NYSE:LUV)

Southwest Airlines Co. (NYSE:LUV) – Stock analysts at Seaport Res Ptn increased their Q1 2024 EPS estimates for Southwest Airlines in a note issued to investors on Monday, April 8th. Seaport Res Ptn analyst D. Mckenzie now forecasts that the airline will post earnings per share of ($0.30) for the quarter, up from their previous estimate of ($0.50). The consensus estimate for Southwest Airlines’ current full-year earnings is $1.54 per share.

Several other analysts have also commented on the stock. StockNews.com lowered shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Friday. Citigroup raised their price target on shares of Southwest Airlines from $25.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, December 18th. TD Cowen lifted their target price on shares of Southwest Airlines from $20.00 to $26.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. Barclays dropped their target price on shares of Southwest Airlines from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Friday, April 5th. Finally, Evercore ISI reiterated an “inline” rating and issued a $35.00 target price on shares of Southwest Airlines in a research report on Tuesday, January 2nd. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $31.82.

Southwest Airlines Stock Down 3.5 %

LUV stock opened at $27.53 on Thursday. The firm has a market cap of $16.47 billion, a PE ratio of 36.71, a P/E/G ratio of 0.99 and a beta of 1.15. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.07 and a current ratio of 1.14. The firm’s fifty day moving average is $31.10 and its 200 day moving average is $28.42. Southwest Airlines has a one year low of $21.91 and a one year high of $39.53.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, January 25th. The airline reported $0.37 EPS for the quarter, beating the consensus estimate of $0.12 by $0.25. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.75 billion. Southwest Airlines had a net margin of 1.91% and a return on equity of 9.40%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.38) earnings per share.

Hedge Funds Weigh In On Southwest Airlines

Institutional investors have recently bought and sold shares of the company. Hexagon Capital Partners LLC raised its stake in Southwest Airlines by 374.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 858 shares of the airline’s stock worth $25,000 after purchasing an additional 677 shares during the period. Capital Advisors Ltd. LLC raised its stake in Southwest Airlines by 82.8% during the fourth quarter. Capital Advisors Ltd. LLC now owns 914 shares of the airline’s stock worth $26,000 after purchasing an additional 414 shares during the period. Quarry LP purchased a new position in Southwest Airlines during the fourth quarter worth about $26,000. First Horizon Advisors Inc. purchased a new position in Southwest Airlines during the fourth quarter worth about $29,000. Finally, ICA Group Wealth Management LLC purchased a new position in Southwest Airlines during the fourth quarter worth about $29,000. 80.82% of the stock is owned by hedge funds and other institutional investors.

Southwest Airlines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Tuesday, March 5th. Southwest Airlines’s dividend payout ratio is currently 96.00%.

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.