Southwest Airlines Co. Expected to Earn Q2 2024 Earnings of $0.59 Per Share (NYSE:LUV)

Southwest Airlines Co. (NYSE:LUVFree Report) – Investment analysts at Zacks Research cut their Q2 2024 earnings per share (EPS) estimates for shares of Southwest Airlines in a research note issued on Thursday, May 9th. Zacks Research analyst S. Goswami now anticipates that the airline will post earnings of $0.59 per share for the quarter, down from their previous estimate of $0.70. The consensus estimate for Southwest Airlines’ current full-year earnings is $1.07 per share. Zacks Research also issued estimates for Southwest Airlines’ Q3 2024 earnings at $0.44 EPS, Q2 2025 earnings at $0.62 EPS and Q3 2025 earnings at $0.55 EPS.

Southwest Airlines (NYSE:LUVGet Free Report) last posted its earnings results on Thursday, April 25th. The airline reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). Southwest Airlines had a net margin of 1.59% and a return on equity of 8.91%. The business had revenue of $6.33 billion during the quarter, compared to analyst estimates of $6.42 billion. During the same period in the previous year, the firm posted ($0.27) earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis.

LUV has been the subject of a number of other reports. TD Cowen decreased their price objective on Southwest Airlines from $26.00 to $25.00 and set a “hold” rating for the company in a report on Friday, April 26th. Argus upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Tuesday, March 12th. Susquehanna dropped their target price on Southwest Airlines from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th. Morgan Stanley lowered their price target on Southwest Airlines from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, April 5th. Finally, Raymond James reissued an “outperform” rating and issued a $30.00 target price (down from $33.00) on shares of Southwest Airlines in a research note on Friday, April 26th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Southwest Airlines has a consensus rating of “Hold” and an average target price of $30.10.

View Our Latest Research Report on LUV

Southwest Airlines Trading Up 2.2 %

Shares of NYSE:LUV opened at $27.97 on Monday. The firm has a market cap of $16.74 billion, a price-to-earnings ratio of 44.40, a PEG ratio of 1.44 and a beta of 1.16. The company has a quick ratio of 1.02, a current ratio of 1.09 and a debt-to-equity ratio of 0.78. Southwest Airlines has a 12 month low of $21.91 and a 12 month high of $39.53. The company’s fifty day simple moving average is $28.85 and its 200 day simple moving average is $28.70.

Institutional Investors Weigh In On Southwest Airlines

Several hedge funds and other institutional investors have recently made changes to their positions in the business. IFM Investors Pty Ltd grew its position in shares of Southwest Airlines by 11.9% during the 3rd quarter. IFM Investors Pty Ltd now owns 26,568 shares of the airline’s stock valued at $719,000 after acquiring an additional 2,828 shares during the period. Advisor Partners II LLC increased its holdings in Southwest Airlines by 11.2% in the 3rd quarter. Advisor Partners II LLC now owns 11,540 shares of the airline’s stock worth $312,000 after acquiring an additional 1,160 shares during the last quarter. ING Groep NV bought a new stake in Southwest Airlines in the 3rd quarter valued at about $75,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Southwest Airlines by 29.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,744 shares of the airline’s stock worth $832,000 after purchasing an additional 7,009 shares during the period. Finally, Community Bank & Trust Waco Texas increased its stake in shares of Southwest Airlines by 144.2% in the third quarter. Community Bank & Trust Waco Texas now owns 42,013 shares of the airline’s stock worth $1,137,000 after purchasing an additional 24,807 shares in the last quarter. 80.82% of the stock is owned by institutional investors.

About Southwest Airlines

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Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; and served 121 destinations in 42 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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Earnings History and Estimates for Southwest Airlines (NYSE:LUV)

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