Southwest Airlines Co. (LUV) Shares Up 2%
Southwest Airlines Co. (NYSE:LUV)’s share price shot up 2% during mid-day trading on Tuesday . The company traded as high as $37.34 and last traded at $37.17, with a volume of 3,063,914 shares traded. The stock had previously closed at $36.45.
A number of brokerages have issued reports on LUV. Evercore ISI raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and cut their target price for the stock from $47.00 to $37.36 in a report on Tuesday, July 26th. Sterne Agee CRT reissued a “buy” rating on shares of Southwest Airlines in a report on Monday, May 16th. Morgan Stanley reissued a “hold” rating and issued a $43.00 target price on shares of Southwest Airlines in a report on Sunday, August 21st. Vetr raised shares of Southwest Airlines from a “buy” rating to a “strong-buy” rating and set a $48.33 target price on the stock in a report on Tuesday, June 14th. Finally, Credit Suisse Group AG reissued an “outperform” rating and issued a $48.00 target price on shares of Southwest Airlines in a report on Monday, July 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $48.94.
The stock has a 50-day moving average of $37.90 and a 200-day moving average of $41.33. The firm has a market cap of $22.94 billion and a PE ratio of 9.81.
Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, July 21st. The airline reported $1.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.21 by $0.02. The company had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.41 billion. During the same quarter in the prior year, the firm posted $1.03 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts forecast that Southwest Airlines Co. will post $3.82 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 18th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, August 16th. This represents a $0.40 dividend on an annualized basis and a yield of 1.08%.
In other news, COO De Ven Michael G. Van acquired 4,200 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were purchased at an average cost of $35.77 per share, with a total value of $150,234.00. Following the completion of the purchase, the chief operating officer now owns 183,245 shares of the company’s stock, valued at $6,554,673.65. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Mark R. Shaw sold 1,776 shares of the company’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $37.62, for a total transaction of $66,813.12. Following the sale, the senior vice president now directly owns 5,226 shares in the company, valued at $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.