Brokers issue Southwest Airlines Co. earnings forecasts. for Q2 2024 (NYSE:LUV)

Southwest Airlines Co. (NYSE:LUV – Free Report) – Seaport Res Ptn lowered its estimates for Southwest Airlines’ Q2 2024 earnings per share in a research note on Thursday, June 27. Seaport Res Ptn analyst D. Mckenzie now expects the airline to report earnings per share of $0.37 for the quarter, down from the previous estimate of $0.50. The consensus estimate for Southwest Airlines’ current full-year earnings is $0.95 per share. Seaport Res Ptn also released estimates for Southwest Airlines’ Q3 2024 earnings of $0.25 EPS and FY2024 earnings of $0.93 EPS.

Southwest Airlines (NYSE:LUV – Get Free Report) last released its quarterly results on Thursday, April 25. The airline reported ($0.36) EPS for the quarter, missing analysts’ estimates of ($0.34) by ($0.02). The company had revenue of $6.33 billion for the quarter, compared to analysts’ estimates of $6.42 billion. Southwest Airlines had a return on equity of 8.91% and a net margin of 1.59%. The company’s revenue for the quarter was up 11.0% year-over-year. During the same quarter last year, the company reported ($0.27) earnings per share.

A number of other brokerages have also recently commented on LUV. Citigroup raised their target price on Southwest Airlines from $27.50 to $29.00 and gave the company a “neutral” rating in a research note on Monday, June 17. Raymond James affirmed an “outperform” rating and set a price target for shares of Southwest Airlines at $30.00 (up from $33.00). On Monday, May 13, HSBC began its relationship with Southwest Airlines. They set a “hold” rating and a $27.80 price target on the stock. In a report on Monday, April 29, Jefferies Financial Group lowered Southwest Airlines from a “hold” rating to an “underperform” rating and lowered their price target on the stock from $28.00 to $20.00. Finally, StockNews.com downgraded Southwest Airlines from a “hold” to a “sell” rating in a report on Friday, April 12th. Five analysts have issued a sell rating, ten analysts have issued a hold rating, and four have issued a buy rating. The stock currently has a consensus rating of “Hold” and a consensus price target of $29.83, according to MarketBeat.com.

Check out our latest stock analysis on LUV

Southwest Airlines shares rose 0.5%

NYSE:LUV opened at $28.61 on Monday. The company has a market capitalization of $17.12 billion, a price-to-earnings ratio of 45.41, a price-to-earnings-growth ratio of 1.83 and a beta of 1.15. Southwest Airlines has a yearly low of $21.91 and a yearly high of $39.53. The stock has a 50-day simple moving average of $27.73 and a 200-day simple moving average of $29.39. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.02 and a current ratio of 1.09.

Hedge funds charge Southwest Airlines

Hedge funds have been buying and selling shares of the company recently. Hexagon Capital Partners LLC increased its position in Southwest Airlines by 374.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 858 shares of the airline’s stock valued at $25,000 after purchasing an additional 677 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in Southwest Airlines by 82.8% during the 4th quarter. Capital Advisors Ltd. LLC now owns 914 shares of the airline’s stock valued at $26,000 after purchasing an additional 414 shares during the period. In the fourth quarter, First Horizon Advisors Inc. purchased a new position at Southwest Airlines for approximately $29,000. ICA Group Wealth Management LLC acquired a new stake in shares of Southwest Airlines during the fourth quarter worth approximately $29,000. Finally, Pineridge Advisors LLC purchased a new stake in shares of Southwest Airlines during the fourth quarter worth approximately $32,000. 80.82% of the shares are held by institutional investors and hedge funds.

Southwest Airlines announces dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 10. Shareholders who reached the record number of shares on Wednesday, June 19 will receive a dividend of $0.18. This represents a dividend of $0.72 annualized and a dividend yield of 2.52%. The ex-dividend date is Tuesday, June 18. Southwest Airlines’ Dividend Payout Ratio (DPR) is currently 114.29%.

About Southwest Airlines

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Southwest Airlines Co operates as an airline offering scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a 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 the Turks and Caicos.

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