Southwest Airlines Company (LUV) Earns Outperform Rating from Cowen and Company

Cowen and Company reiterated their outperform rating on shares of Southwest Airlines Company (NYSE:LUV) in a research note published on Friday morning. Cowen and Company currently has a $55.00 price objective on the airline’s stock, up from their previous price objective of $44.00.

Several other analysts have also issued reports on LUV. Imperial Capital started coverage on shares of Southwest Airlines Company in a research report on Friday, September 9th. They issued an outperform rating and a $46.00 price target on the stock. Vetr upgraded shares of Southwest Airlines Company from a hold rating to a buy rating and set a $39.83 price target on the stock in a research report on Monday, September 12th. Credit Suisse Group set a $48.00 price target on shares of Southwest Airlines Company and gave the stock a buy rating in a research report on Monday, September 12th. Bank of America Corporation set a $50.00 price target on shares of Southwest Airlines Company and gave the stock a buy rating in a research report on Saturday, October 1st. Finally, Sanford C. Bernstein began coverage on shares of Southwest Airlines Company in a research report on Monday, October 10th. They issued an outperform rating and a $51.00 price target on the stock. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and an average target price of $54.07.

Southwest Airlines Company (NYSE:LUV) traded up 0.55% on Friday, hitting $51.62. 2,279,845 shares of the company were exchanged. The firm has a market cap of $31.78 billion, a price-to-earnings ratio of 14.67 and a beta of 0.91. Southwest Airlines Company has a one year low of $33.96 and a one year high of $52.20. The stock has a 50 day moving average price of $49.32 and a 200 day moving average price of $41.70.

Southwest Airlines Company (NYSE:LUV) last posted its quarterly earnings results on Wednesday, October 26th. The airline reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.05. The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.17 billion. Southwest Airlines Company had a net margin of 11.09% and a return on equity of 32.51%. The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period last year, the business posted $0.94 EPS. On average, equities research analysts forecast that Southwest Airlines Company will post $3.67 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Thursday, January 5th. Investors of record on Thursday, December 8th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Tuesday, December 6th. Southwest Airlines Company’s payout ratio is 11.40%.

In related news, Director John T. Montford sold 510 shares of the stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $50.93, for a total transaction of $25,974.30. Following the completion of the transaction, the director now owns 23,715 shares in the company, valued at $1,207,804.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeff Lamb sold 14,534 shares of the stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $48.10, for a total transaction of $699,085.40. Following the transaction, the executive vice president now owns 117,188 shares of the company’s stock, valued at approximately $5,636,742.80. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rench Wealth Management Inc. raised its stake in Southwest Airlines Company by 0.3% in the second quarter. Rench Wealth Management Inc. now owns 5,305 shares of the airline’s stock valued at $208,000 after buying an additional 14 shares during the period. Shell Asset Management Co. raised its stake in Southwest Airlines Company by 0.4% in the second quarter. Shell Asset Management Co. now owns 7,745 shares of the airline’s stock valued at $304,000 after buying an additional 32 shares during the period. Trust Investment Advisors raised its stake in Southwest Airlines Company by 0.3% in the second quarter. Trust Investment Advisors now owns 16,575 shares of the airline’s stock valued at $650,000 after buying an additional 50 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its stake in Southwest Airlines Company by 0.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 16,469 shares of the airline’s stock valued at $645,000 after buying an additional 60 shares during the period. Finally, Harwood Advisory Group LLC raised its stake in Southwest Airlines Company by 1.1% in the third quarter. Harwood Advisory Group LLC now owns 5,556 shares of the airline’s stock valued at $216,000 after buying an additional 61 shares during the period. Institutional investors and hedge funds own 75.61% of the company’s stock.

Southwest Airlines Company Company Profile

Southwest Airlines Co (Southwest) operates Southwest Airlines. Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves approximately 100 destinations in over 40 states, such as the District of Columbia, the Commonwealth of Puerto Rico, and approximately seven near-international countries, including Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, and Belize.

5 Day Chart for NYSE:LUV

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