Southwest Airlines (NYSE:LUV – Get Free Report) posted its earnings results on Thursday. The airline reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.10, RTT News reports. Southwest Airlines had a net margin of 0.41% and a return on equity of 5.92%. The business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.77 billion. During the same quarter in the prior year, the business earned $0.38 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year.
Southwest Airlines Trading Up 1.4 %
Shares of LUV stock traded up $0.41 during trading hours on Friday, reaching $29.43. 9,321,783 shares of the stock were exchanged, compared to its average volume of 9,424,932. The company has a current ratio of 0.90, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48. Southwest Airlines has a 12-month low of $21.91 and a 12-month high of $35.18. The firm has a market capitalization of $17.61 billion, a price-to-earnings ratio of 46.71, a price-to-earnings-growth ratio of 11.63 and a beta of 1.17. The company’s 50-day moving average price is $29.33 and its 200-day moving average price is $28.11.
Southwest Airlines Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Wednesday, September 4th. Southwest Airlines’s dividend payout ratio is currently 114.29%.
Analysts Set New Price Targets
Get Our Latest Report on Southwest Airlines
Insiders Place Their Bets
In other Southwest Airlines news, Director Rakesh Gangwal purchased 643,788 shares of Southwest Airlines stock in a transaction dated Tuesday, October 1st. The shares were purchased at an average cost of $29.98 per share, for a total transaction of $19,300,764.24. Following the completion of the acquisition, the director now owns 3,606,311 shares in the company, valued at $108,117,203.78. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by insiders.
About Southwest Airlines
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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