LUV Stock – Southwest Airlines Co. (NYSE:LUV) Expected to Announce Quarterly Sales of $1.99 Billion
Equities research analysts predict that Southwest Airlines Co. (NYSE:LUV) will announce sales of $1.99 billion for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for Southwest Airlines’ earnings. The lowest sales estimate is $1.59 billion and the highest is $2.24 billion. Southwest Airlines reported sales of $4.23 billion in the same quarter last year, which would suggest a negative year over year growth rate of 53%. The firm is expected to report its next earnings results before the market opens on Thursday, April 22nd.
On average, analysts expect that Southwest Airlines will report full year sales of $14.24 billion for the current fiscal year, with estimates ranging from $11.77 billion to $17.25 billion. For the next year, analysts anticipate that the company will report sales of $19.84 billion, with estimates ranging from $16.74 billion to $22.79 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Southwest Airlines.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Wednesday, January 27th. The airline reported ($1.29) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.68) by $0.39. Southwest Airlines had a negative return on equity of 22.65% and a negative net margin of 12.94%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the company earned $1.16 earnings per share. Southwest Airlines’s quarterly revenue was down 64.9% on a year-over-year basis.
Several equities analysts have recently issued reports on the company. Susquehanna Bancshares boosted their price objective on Southwest Airlines from $50.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, January 14th. Credit Suisse Group boosted their price objective on Southwest Airlines from $51.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, January 29th. The Goldman Sachs Group boosted their price objective on Southwest Airlines from $47.00 to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, March 16th. Morgan Stanley boosted their price objective on Southwest Airlines from $59.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Zacks Investment Research upgraded Southwest Airlines from a “sell” rating to a “hold” rating and set a $65.00 price objective for the company in a research report on Wednesday, March 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $56.90.
In other news, President Thomas M. Nealon sold 3,800 shares of the firm’s stock in a transaction dated Tuesday, February 23rd. The stock was sold at an average price of $56.45, for a total transaction of $214,510.00. Following the transaction, the president now directly owns 156,154 shares of the company’s stock, valued at $8,814,893.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO De Ven Michael G. Van sold 32,522 shares of the firm’s stock in a transaction dated Tuesday, February 23rd. The stock was sold at an average price of $56.06, for a total transaction of $1,823,183.32. Following the completion of the sale, the chief operating officer now owns 262,319 shares of the company’s stock, valued at $14,705,603.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,418 shares of company stock worth $3,225,340. 0.28% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Alliancebernstein L.P. grew its holdings in Southwest Airlines by 230.4% during the 4th quarter. Alliancebernstein L.P. now owns 4,240,120 shares of the airline’s stock valued at $197,632,000 after purchasing an additional 2,956,645 shares during the last quarter. Norges Bank bought a new position in Southwest Airlines during the 4th quarter valued at about $100,394,000. U S Global Investors Inc. grew its stake in Southwest Airlines by 44.5% in the 4th quarter. U S Global Investors Inc. now owns 6,368,571 shares of the airline’s stock worth $296,839,000 after acquiring an additional 1,960,778 shares in the last quarter. Renaissance Technologies LLC grew its stake in Southwest Airlines by 1,101.5% in the 4th quarter. Renaissance Technologies LLC now owns 1,583,280 shares of the airline’s stock worth $73,797,000 after acquiring an additional 1,451,500 shares in the last quarter. Finally, Ardevora Asset Management LLP bought a new position in Southwest Airlines in the 4th quarter worth about $52,390,000. Hedge funds and other institutional investors own 74.00% of the company’s stock.
Shares of LUV stock opened at $63.23 on Wednesday. The company has a quick ratio of 2.01, a current ratio of 2.07 and a debt-to-equity ratio of 1.07. The business has a 50 day moving average of $60.13 and a two-hundred day moving average of $48.70. Southwest Airlines has a 52 week low of $22.47 and a 52 week high of $64.64. The company has a market cap of $37.35 billion, a P/E ratio of -22.66, a PEG ratio of 139.97 and a beta of 1.23.
About Southwest Airlines
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, 2020, the company operated a total fleet of 718 Boeing 737 aircrafts; and served 107 destinations in 40 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 Turks and Caicos.
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