Bank of America lowered shares of Southwest Airlines (NYSE:LUV) from a buy rating to a neutral rating in a research report report published on Tuesday, January 9th, MarketBeat.com reports. The brokerage currently has $73.00 price objective on the airline’s stock.
A number of other brokerages have also recently commented on LUV. ValuEngine cut Southwest Airlines from a buy rating to a hold rating in a report on Wednesday, January 3rd. Vetr upgraded Southwest Airlines from a strong sell rating to a sell rating and set a $60.23 price objective on the stock in a report on Tuesday, December 26th. Atlantic Securities upgraded Southwest Airlines from a neutral rating to an overweight rating and raised their price objective for the stock from $48.71 to $71.00 in a report on Thursday, December 14th. Deutsche Bank restated a buy rating and set a $71.00 price objective on shares of Southwest Airlines in a report on Friday, October 27th. Finally, Cowen restated an outperform rating and set a $64.00 price objective (up previously from $62.00) on shares of Southwest Airlines in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $67.93.
Southwest Airlines (NYSE LUV) traded down $0.01 during midday trading on Tuesday, reaching $65.05. The company had a trading volume of 4,984,746 shares, compared to its average volume of 4,280,000. Southwest Airlines has a 12-month low of $48.71 and a 12-month high of $66.99. The stock has a market cap of $38,600.00, a P/E ratio of 18.64, a P/E/G ratio of 1.37 and a beta of 1.35. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.46.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, October 26th. The airline reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.01. The firm had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.29 billion. Southwest Airlines had a return on equity of 24.85% and a net margin of 10.12%. Southwest Airlines’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the business posted $0.93 EPS. equities research analysts anticipate that Southwest Airlines will post 3.5 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Stockholders of record on Thursday, December 7th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Wednesday, December 6th. Southwest Airlines’s payout ratio is 14.33%.
In related news, EVP Robert E. Jordan sold 32,931 shares of Southwest Airlines stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $64.38, for a total value of $2,120,097.78. Following the completion of the transaction, the executive vice president now directly owns 76,993 shares in the company, valued at $4,956,809.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John T. Montford sold 935 shares of Southwest Airlines stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $53.94, for a total value of $50,433.90. Following the completion of the transaction, the director now owns 25,000 shares of the company’s stock, valued at $1,348,500. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,561 shares of company stock worth $2,277,774. Corporate insiders own 0.21% of the company’s stock.
A number of large investors have recently bought and sold shares of LUV. Stonebridge Capital Advisors LLC boosted its stake in Southwest Airlines by 0.6% in the second quarter. Stonebridge Capital Advisors LLC now owns 6,356 shares of the airline’s stock valued at $395,000 after acquiring an additional 35 shares during the period. Bank of Hawaii boosted its stake in Southwest Airlines by 0.3% in the second quarter. Bank of Hawaii now owns 12,906 shares of the airline’s stock valued at $802,000 after acquiring an additional 39 shares during the period. Peapack Gladstone Financial Corp boosted its stake in Southwest Airlines by 2.5% in the second quarter. Peapack Gladstone Financial Corp now owns 4,277 shares of the airline’s stock valued at $266,000 after acquiring an additional 104 shares during the period. Advisory Services Network LLC boosted its stake in Southwest Airlines by 1.0% in the second quarter. Advisory Services Network LLC now owns 13,716 shares of the airline’s stock valued at $852,000 after acquiring an additional 132 shares during the period. Finally, Virtu KCG Holdings LLC boosted its stake in Southwest Airlines by 2.6% in the second quarter. Virtu KCG Holdings LLC now owns 6,032 shares of the airline’s stock valued at $375,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 78.58% of the company’s stock.
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Southwest Airlines Company Profile
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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