Southwest Airlines (NYSE: LUV) Posts Quarterly Earnings Results, Beats Expectations By $ 0.39 EPS

Southwest Airlines (NYSE: LUV – Get Rating) announced its quarterly earnings results on Thursday. The airline reported $ 1.30 EPS for the quarter, beating analysts’ consensus estimates of $ 0.91 by $ 0.39, reports. Southwest Airlines had a negative return on equity of 4.39% and a net margin of 3.17%. The company had revenue of $ 6.73 billion during the quarter, compared to analyst estimates of $ 6.69 billion. During the same period in the prior year, the company earned ($ 0.35) earnings per share. The firm’s revenue was up 67.9% on a year-over-year basis. Southwest Airlines updated its Q3 2022 guidance to EPS.

Southwest Airlines Stock Performance

LUV traded up $ 0.06 on Friday, reaching $ 38.21. 293,062 shares of the stock were exchanged, compared to its average volume of 6,848,455. The firm has a market capitalization of $ 22.66 billion, a PE ratio of 40.45, a PEG ratio of 2.48 and a beta of 1.00. The company’s 50-day moving average price is $ 39.68 and its 200 day moving average price is $ 42.79. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.87 and a quick ratio of 1.81. Southwest Airlines has a fifty-two week low of $ 34.36 and a fifty-two week high of $ 56.33.

Insider Activity

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In other news, Director John T. Montford sold 2,300 shares of the business’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $ 45.70, for a total value of $ 105,110.00. Following the completion of the transaction, the director now owns 23,296 shares of the company’s stock, valued at approximately $ 1,064,627.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Southwest Airlines

Institutional investors and hedge funds have recently modified their holdings of the stock. Samalin Investment Counsel LLC lifted its holdings in shares of Southwest Airlines by 247.5% in the 1st quarter. Samalin Investment Counsel LLC now owns 702 shares of the airline’s stock valued at $ 32,000 after buying an additional 500 shares during the period. Worth Asset Management LLC purchased a new position in shares of Southwest Airlines in the 1st quarter valued at about $ 97,000. Zions Bancorporation NA increased its stake in shares of Southwest Airlines by 101.4% in the 1st quarter. Zions Bancorporation NA now owns 3,158 shares of the airline’s stock valued at $ 145,000 after purchasing an additional 1,590 shares in the last quarter. Golden State Equity Partners purchased a new position in shares of Southwest Airlines in the 1st quarter valued at about $ 263,000. Finally, Prelude Capital Management LLC purchased a new position in shares of Southwest Airlines in the 1st quarter valued at about $ 201,000. Institutional investors and hedge funds own 76.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on LUV shares. Cowen dropped their price target on Southwest Airlines from $ 67.00 to $ 55.00 in a research note on Friday. Barclays dropped their price target on Southwest Airlines from $ 58.00 to $ 50.00 and set an “overweight” rating for the company in a research note on Thursday, June 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set at $ 60.00 price target on shares of Southwest Airlines in a research note on Friday, April 29th. began coverage on Southwest Airlines in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Citigroup raised their price objective on Southwest Airlines from $ 48.00 to $ 53.00 in a research note on Monday, May 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $ 53.17.

Southwest Airlines Company Profile

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Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2021, the company operated a total fleet of 728 Boeing 737 aircrafts; and served 121 destinations in 42 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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Earnings History for Southwest Airlines (NYSE: LUV)

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