Southwest Airlines Co. (LUV) To Go Ex-Dividend on December 6th
Southwest Airlines Co. (NYSE:LUV) announced a quarterly dividend on Thursday, November 17th. Shareholders of record on Thursday, December 8th will be paid a dividend of 0.10 per share by the airline on Thursday, January 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Tuesday, December 6th.
Shares of Southwest Airlines (NYSE:LUV) opened at 46.61 on Thursday. Southwest Airlines has a 52 week low of $33.96 and a 52 week high of $51.34. The stock has a market cap of $28.69 billion, a PE ratio of 13.25 and a beta of 0.86. The firm has a 50-day moving average price of $43.09 and a 200-day moving average price of $40.12.
Southwest Airlines (NYSE:LUV) last posted its earnings results on Wednesday, October 26th. The airline reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. Southwest Airlines had a return on equity of 32.51% and a net margin of 11.09%. The business earned $5.10 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. On average, analysts forecast that Southwest Airlines will post $3.66 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in LUV. Marshall Wace LLP increased its stake in shares of Southwest Airlines by 618.3% in the second quarter. Marshall Wace LLP now owns 1,386,247 shares of the airline’s stock valued at $54,355,000 after buying an additional 1,193,261 shares during the last quarter. Janus Capital Management LLC increased its stake in shares of Southwest Airlines by 20.1% in the second quarter. Janus Capital Management LLC now owns 5,796,281 shares of the airline’s stock valued at $227,272,000 after buying an additional 969,666 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Southwest Airlines by 8.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 7,336,776 shares of the airline’s stock valued at $285,327,000 after buying an additional 600,491 shares during the last quarter. Bowen Hanes & Co. Inc. acquired a new stake in shares of Southwest Airlines during the second quarter valued at $19,621,000. Finally, APG Asset Management N.V. increased its stake in shares of Southwest Airlines by 28.4% in the second quarter. APG Asset Management N.V. now owns 1,952,939 shares of the airline’s stock valued at $76,575,000 after buying an additional 431,900 shares during the last quarter. 75.66% of the stock is currently owned by institutional investors and hedge funds.
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A number of research firms have recently issued reports on LUV. Vetr upgraded Southwest Airlines from a “sell” rating to a “hold” rating and set a $46.22 target price for the company in a research note on Thursday, November 24th. Zacks Investment Research upgraded Southwest Airlines from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 22nd. Imperial Capital increased their target price on Southwest Airlines from $46.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, November 22nd. Citigroup Inc. began coverage on Southwest Airlines in a research note on Friday, November 18th. They issued a “buy” rating and a $57.00 target price for the company. Finally, JPMorgan Chase & Co. upgraded Southwest Airlines from a “neutral” rating to an “overweight” rating and set a $51.50 price objective for the company in a research note on Thursday, October 27th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $50.70.
About Southwest Airlines
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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