$5.68 Billion in Sales Expected for Southwest Airlines Co (LUV) This Quarter

Wall Street analysts predict that Southwest Airlines Co (NYSE:LUV) will announce sales of $5.68 billion for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have issued estimates for Southwest Airlines’ earnings, with the lowest sales estimate coming in at $5.66 billion and the highest estimate coming in at $5.70 billion. Southwest Airlines posted sales of $5.27 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.8%. The firm is scheduled to report its next earnings results on Thursday, January 24th.

On average, analysts expect that Southwest Airlines will report full year sales of $21.94 billion for the current fiscal year, with estimates ranging from $21.92 billion to $21.96 billion. For the next financial year, analysts expect that the firm will report sales of $23.69 billion, with estimates ranging from $23.42 billion to $23.94 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Southwest Airlines.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, October 25th. The airline reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.02. The company had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.56 billion. Southwest Airlines had a net margin of 17.18% and a return on equity of 22.27%. During the same period in the previous year, the company posted $0.88 EPS.

Several equities analysts have issued reports on LUV shares. JPMorgan Chase & Co. cut shares of Southwest Airlines from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $63.00 to $52.00 in a research note on Tuesday, October 30th. Raymond James dropped their price objective on shares of Southwest Airlines from $68.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, October 26th. Morgan Stanley set a $68.00 price objective on shares of Southwest Airlines and gave the company a “buy” rating in a research note on Friday, October 5th. Citigroup upped their price target on shares of Southwest Airlines from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, November 29th. Finally, Argus raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Friday, September 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. Southwest Airlines has an average rating of “Buy” and an average price target of $64.85.

LUV traded up $0.05 during trading on Wednesday, hitting $49.65. The stock had a trading volume of 205,263 shares, compared to its average volume of 4,146,281. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.65 and a current ratio of 0.71. The stock has a market capitalization of $27.77 billion, a P/E ratio of 14.19, a P/E/G ratio of 1.07 and a beta of 1.23. Southwest Airlines has a twelve month low of $47.10 and a twelve month high of $66.99.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Wednesday, December 5th will be given a $0.16 dividend. The ex-dividend date is Tuesday, December 4th. This represents a $0.64 annualized dividend and a dividend yield of 1.29%. Southwest Airlines’s dividend payout ratio is presently 18.29%.

In other Southwest Airlines news, Director John T. Montford sold 980 shares of the company’s stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $51.27, for a total value of $50,244.60. Following the transaction, the director now directly owns 20,983 shares in the company, valued at approximately $1,075,798.41. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John T. Montford sold 956 shares of the company’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $52.35, for a total transaction of $50,046.60. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in LUV. Flagship Harbor Advisors LLC purchased a new position in shares of Southwest Airlines during the 2nd quarter worth about $101,000. Point72 Hong Kong Ltd purchased a new position in shares of Southwest Airlines during the 2nd quarter worth about $108,000. TRUE Private Wealth Advisors purchased a new position in shares of Southwest Airlines during the 3rd quarter worth about $111,000. Captrust Financial Advisors lifted its holdings in shares of Southwest Airlines by 310.5% during the 2nd quarter. Captrust Financial Advisors now owns 2,299 shares of the airline’s stock worth $117,000 after acquiring an additional 1,739 shares during the period. Finally, Northwest Wealth Management LLC lifted its holdings in shares of Southwest Airlines by 357.1% during the 3rd quarter. Northwest Wealth Management LLC now owns 1,920 shares of the airline’s stock worth $120,000 after acquiring an additional 1,500 shares during the period. Institutional investors own 79.44% of the company’s stock.

About Southwest Airlines

Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.

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