Southwest Airlines (NYSE:LUV) Given New $55.00 Price Target at Cowen

Southwest Airlines (NYSE:LUV) had its price objective trimmed by Cowen from $58.00 to $55.00 in a report published on Wednesday, March 27th, Briefing.com Automated Import reports. The firm currently has a market perform rating on the airline’s stock.

A number of other equities analysts have also issued reports on the stock. Goldman Sachs Group increased their target price on shares of Southwest Airlines to $49.00 and gave the company a sell rating in a research report on Wednesday, March 20th. Imperial Capital decreased their target price on shares of Southwest Airlines from $58.00 to $55.00 and set an in-line rating for the company in a research report on Wednesday, March 20th. Zacks Investment Research lowered shares of Southwest Airlines from a buy rating to a hold rating in a research report on Tuesday, March 12th. ValuEngine lowered shares of Southwest Airlines from a hold rating to a sell rating in a research report on Monday, March 11th. Finally, Wolfe Research downgraded shares of Southwest Airlines from an outperform rating to a peer perform rating in a report on Friday, March 8th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. Southwest Airlines has a consensus rating of Hold and a consensus price target of $58.77.

Shares of Southwest Airlines stock traded down $0.58 during trading on Wednesday, hitting $52.18. 3,342,142 shares of the stock were exchanged, compared to its average volume of 4,306,028. The firm has a market capitalization of $28.52 billion, a P/E ratio of 12.31, a P/E/G ratio of 1.84 and a beta of 1.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.58 and a current ratio of 0.64. Southwest Airlines has a 12 month low of $44.28 and a 12 month high of $64.02.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, January 24th. The airline reported $1.17 EPS for the quarter, topping the consensus estimate of $1.06 by $0.11. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.68 billion. Southwest Airlines had a net margin of 11.22% and a return on equity of 24.56%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 earnings per share. As a group, sell-side analysts forecast that Southwest Airlines will post 4.76 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Tuesday, March 5th. Southwest Airlines’s dividend payout ratio is presently 15.09%.

A number of hedge funds have recently bought and sold shares of the business. Financial Gravity Wealth Inc. acquired a new position in Southwest Airlines in the first quarter worth approximately $39,000. Strs Ohio increased its holdings in Southwest Airlines by 1.2% in the first quarter. Strs Ohio now owns 331,693 shares of the airline’s stock worth $17,218,000 after buying an additional 4,019 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in Southwest Airlines by 0.6% in the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 306,879 shares of the airline’s stock worth $15,930,000 after buying an additional 1,772 shares during the last quarter. Rothschild Investment Corp IL acquired a new position in Southwest Airlines in the first quarter worth approximately $209,000. Finally, Telos Capital Management Inc. increased its holdings in Southwest Airlines by 1.8% in the first quarter. Telos Capital Management Inc. now owns 36,453 shares of the airline’s stock worth $1,892,000 after buying an additional 629 shares during the last quarter. 81.19% of the stock is owned by institutional investors.

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.

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Analyst Recommendations for Southwest Airlines (NYSE:LUV)

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