Investors Buy Shares of Southwest Airlines Co. (LUV) on Weakness
Investors purchased shares of Southwest Airlines Co. (NYSE:LUV) on weakness during trading hours on Wednesday. $102.81 million flowed into the stock on the tick-up and $31.44 million flowed out of the stock on the tick-down, for a money net flow of $71.37 million into the stock. Of all stocks tracked, Southwest Airlines had the 12th highest net in-flow for the day. Southwest Airlines traded down ($0.30) for the day and closed at $36.88
A number of analysts have recently weighed in on LUV shares. Cowen and Company reiterated a “buy” rating on shares of Southwest Airlines in a report on Sunday, June 26th. Deutsche Bank AG reiterated a “buy” rating and set a $57.00 target price on shares of Southwest Airlines in a report on Saturday, June 25th. Vetr lowered shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating and set a $48.33 target price for the company. in a report on Wednesday, June 8th. Sterne Agee CRT reissued a “buy” rating on shares of Southwest Airlines in a research note on Monday, May 16th. Finally, Evercore ISI raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and decreased their price target for the stock from $47.00 to $37.36 in a research note on Tuesday, July 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $48.94.
The company has a market cap of $22.87 billion and a P/E ratio of 9.78. The stock has a 50 day moving average of $37.90 and a 200 day moving average of $41.33.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, July 21st. The airline reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by $0.02. The business had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.41 billion. Southwest Airlines’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the business posted $1.03 earnings per share. On average, equities analysts expect that Southwest Airlines Co. will post $3.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Thursday, August 18th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $0.40 annualized dividend and a yield of 1.08%.
In other Southwest Airlines news, Director John T. Montford sold 1,210 shares of the business’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $43.31, for a total value of $52,405.10. Following the completion of the sale, the director now directly owns 27,155 shares of the company’s stock, valued at approximately $1,176,083.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Gary C. Kelly acquired 28,106 shares of the stock in a transaction on Tuesday, August 2nd. The stock was bought at an average cost of $35.58 per share, with a total value of $1,000,011.48. Following the completion of the transaction, the insider now owns 505,119 shares in the company, valued at $17,972,134.02. The disclosure for this purchase can be found here.
Southwest Airlines Co (Southwest) operates Southwest Airlines. Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves approximately 100 destinations in over 40 states, such as the District of Columbia, the Commonwealth of Puerto Rico, and approximately seven near-international countries, including Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, and Belize.
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