Southwest Airlines Co. (LUV) Stock Price Up 2%
Southwest Airlines Co. (NYSE:LUV)’s share price rose 2% during mid-day trading on Tuesday . The stock traded as high as $37.34 and last traded at $37.17, with a volume of 3,063,914 shares trading hands. The stock had previously closed at $36.45.
LUV has been the subject of several analyst reports. Credit Suisse Group AG reissued an “outperform” rating on shares of Southwest Airlines in a report on Wednesday, July 6th. Buckingham Research downgraded shares of Southwest Airlines from a “buy” rating to a “neutral” rating in a report on Friday, July 22nd. Vetr downgraded shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating and set a $48.33 price target for the company. in a report on Wednesday, June 8th. Deutsche Bank AG restated a “buy” rating and set a $57.00 price objective on shares of Southwest Airlines in a research note on Saturday, June 25th. Finally, Cowen and Company cut their price objective on shares of Southwest Airlines from $49.00 to $47.00 and set an “outperform” rating on the stock in a research note on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $48.94.
The firm has a market cap of $23.06 billion and a P/E ratio of 9.86. The firm’s 50-day moving average is $38.17 and its 200-day moving average is $41.35.
Southwest Airlines (NYSE:LUV) last announced its earnings results on Thursday, July 21st. The airline reported $1.19 EPS for the quarter, missing the consensus estimate of $1.21 by $0.02. The firm earned $5.38 billion during the quarter, compared to the consensus estimate of $5.41 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. The business’s revenue was up 5.3% on a year-over-year basis. Equities analysts forecast that Southwest Airlines Co. will post $3.82 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Tuesday, August 16th.
In other news, Director John T. Montford sold 1,210 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $43.31, for a total transaction of $52,405.10. Following the sale, the director now owns 27,155 shares in the company, valued at $1,176,083.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark R. Shaw sold 1,776 shares of the stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $37.62, for a total value of $66,813.12. Following the sale, the senior vice president now owns 5,226 shares in the company, valued at approximately $196,602.12. The disclosure for this sale 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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