Q2 2024 EPS Estimates for Southwest Airlines Co. (NYSE:LUV) Lowered by Analyst

Southwest Airlines Co. (NYSE:LUV) – Research analysts at Zacks Research lowered their Q2 2024 EPS estimates for Southwest Airlines in a research report issued to clients and investors on Thursday, June 27th. Zacks Research analyst S. Goswami now forecasts that the airline will post earnings per share of $0.53 for the quarter, down from their previous estimate of $0.59. The consensus estimate for Southwest Airlines’ current full-year earnings is $0.95 per share. Zacks Research also issued estimates for Southwest Airlines’ Q4 2024 earnings at $0.17 EPS, FY2024 earnings at $0.78 EPS, Q4 2025 earnings at $0.52 EPS, FY2025 earnings at $1.73 EPS and FY2026 earnings at $2.53 EPS.

Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, April 25th. The airline reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.02). Southwest Airlines had a return on equity of 8.91% and a net margin of 1.59%. The business had revenue of $6.33 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same period in the previous year, the business posted ($0.27) EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year.

A number of other brokerages have also weighed in on LUV. Barclays lowered their target price on Southwest Airlines from $30.00 to $26.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. StockNews.com lowered Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Friday, April 12th. TD Cowen reduced their price target on Southwest Airlines from $26.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Argus reaffirmed a “hold” rating on shares of Southwest Airlines in a research note on Tuesday, May 28th. Finally, Raymond James reissued an “outperform” rating and issued a $30.00 price objective (down previously from $33.00) on shares of Southwest Airlines in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $29.83.

Southwest Airlines Stock Up 0.6 %

Shares of LUV stock opened at $28.29 on Monday. Southwest Airlines has a 12-month low of $21.91 and a 12-month high of $39.53. The company has a quick ratio of 1.02, a current ratio of 1.09 and a debt-to-equity ratio of 0.78. The firm has a fifty day moving average of $27.69 and a 200-day moving average of $29.38. The company has a market capitalization of $16.93 billion, a price-to-earnings ratio of 44.90, a P/E/G ratio of 1.88 and a beta of 1.15.

Southwest Airlines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Wednesday, June 19th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Tuesday, June 18th. Southwest Airlines’s dividend payout ratio is presently 114.29%.

Hedge Funds Weigh In On Southwest Airlines

Several institutional investors and hedge funds have recently made changes to their positions in LUV. Envestnet Asset Management Inc. increased its position in Southwest Airlines by 33.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 237,665 shares of the airline’s stock worth $6,434,000 after buying an additional 59,428 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in Southwest Airlines by 75.1% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 10,768 shares of the airline’s stock valued at $291,000 after purchasing an additional 4,619 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Southwest Airlines by 37.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 36,004 shares of the airline’s stock worth $975,000 after purchasing an additional 9,806 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of Southwest Airlines by 8.0% during the third quarter. Bank of Nova Scotia now owns 44,674 shares of the airline’s stock worth $1,209,000 after purchasing an additional 3,321 shares during the period. Finally, Waverly Advisors LLC raised its position in shares of Southwest Airlines by 4.3% in the third quarter. Waverly Advisors LLC now owns 10,071 shares of the airline’s stock valued at $273,000 after buying an additional 419 shares in the last quarter. Institutional investors and hedge funds own 80.82% of the company’s stock.

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.