Southwest Airlines (NYSE:LUV – Get Free Report) issued its quarterly earnings results on Thursday. The airline reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.10, RTT News reports. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.77 billion. Southwest Airlines had a return on equity of 5.92% and a net margin of 0.41%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business posted $0.38 earnings per share.
Southwest Airlines Stock Performance
NYSE LUV opened at $29.02 on Friday. The firm has a market cap of $17.39 billion, a price-to-earnings ratio of 223.25, a PEG ratio of 11.63 and a beta of 1.17. The company has a 50 day moving average of $29.28 and a 200-day moving average of $28.11. The company has a current ratio of 0.90, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48. Southwest Airlines has a 1-year low of $21.91 and a 1-year high of $35.18.
Southwest Airlines Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Wednesday, September 4th. Southwest Airlines’s payout ratio is 553.89%.
Insider Transactions at Southwest Airlines
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on LUV shares. TD Cowen increased their target price on shares of Southwest Airlines from $19.00 to $25.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Susquehanna increased their target price on shares of Southwest Airlines from $25.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Barclays increased their target price on shares of Southwest Airlines from $27.00 to $32.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Evercore ISI upgraded shares of Southwest Airlines from an “in-line” rating to an “outperform” rating and increased their target price for the company from $30.00 to $35.00 in a research note on Tuesday, September 3rd. Finally, Citigroup increased their target price on shares of Southwest Airlines from $28.25 to $31.50 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $30.33.
Read Our Latest Stock Analysis 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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