Q3 2019 EPS Estimates for Southwest Airlines Co (LUV) Decreased by Imperial Capital

Southwest Airlines Co (NYSE:LUV) – Equities research analysts at Imperial Capital cut their Q3 2019 earnings per share estimates for shares of Southwest Airlines in a report released on Wednesday, March 20th, according to Zacks Investment Research. Imperial Capital analyst M. Derchin now anticipates that the airline will earn $1.34 per share for the quarter, down from their prior forecast of $1.39. Imperial Capital has a “In-Line” rating and a $52.00 price target on the stock. Imperial Capital also issued estimates for Southwest Airlines’ Q4 2019 earnings at $1.32 EPS.

Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Thursday, January 24th. The airline reported $1.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.11. Southwest Airlines had a return on equity of 24.56% and a net margin of 11.22%. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the previous year, the business earned $0.77 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis.

A number of other equities research analysts also recently weighed in on the company. Goldman Sachs Group downgraded Southwest Airlines from a “neutral” rating to a “sell” rating and lowered their price target for the company from $66.00 to $54.00 in a report on Wednesday, February 20th. Cowen downgraded Southwest Airlines from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $65.00 to $54.00 in a report on Thursday, January 10th. ValuEngine downgraded Southwest Airlines from a “hold” rating to a “sell” rating in a report on Monday, March 11th. Raymond James downgraded Southwest Airlines from an “outperform” rating to a “market perform” rating and set a $53.25 price objective for the company. in a research note on Monday, April 8th. Finally, Zacks Investment Research downgraded Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Monday, January 14th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $58.77.

Shares of NYSE LUV traded down $0.84 during trading on Friday, reaching $52.29. The stock had a trading volume of 2,524,621 shares, compared to its average volume of 5,325,014. Southwest Airlines has a one year low of $44.28 and a one year high of $64.02. The company has a current ratio of 0.64, a quick ratio of 0.58 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $29.04 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.83 and a beta of 1.50.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.64 dividend on an annualized basis and a yield of 1.22%. Southwest Airlines’s dividend payout ratio (DPR) is presently 15.09%.

A number of hedge funds have recently made changes to their positions in the business. Paragon Capital Management LLC acquired a new stake in shares of Southwest Airlines in the first quarter valued at $26,000. Raymond James Trust N.A. lifted its holdings in shares of Southwest Airlines by 2.1% in the first quarter. Raymond James Trust N.A. now owns 10,238 shares of the airline’s stock valued at $532,000 after buying an additional 209 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Southwest Airlines by 3.7% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 23,045 shares of the airline’s stock valued at $1,196,000 after buying an additional 825 shares during the period. Virtu Financial LLC lifted its holdings in shares of Southwest Airlines by 13.7% in the first quarter. Virtu Financial LLC now owns 9,238 shares of the airline’s stock valued at $480,000 after buying an additional 1,111 shares during the period. Finally, Northwest Wealth Management LLC lifted its holdings in shares of Southwest Airlines by 36.5% in the first quarter. Northwest Wealth Management LLC now owns 2,620 shares of the airline’s stock valued at $136,000 after buying an additional 700 shares during the period. Institutional investors own 80.30% 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, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 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.

Featured Story: What are the benefits of investing in REITs?

Get a free copy of the Zacks research report on Southwest Airlines (LUV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Southwest Airlines (NYSE:LUV)

Receive News & Ratings for Southwest Airlines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines and related companies with MarketBeat.com's FREE daily email newsletter.