Southwest Airlines (NYSE: LUV) coverage initiated by Citigroup analysts
Citigroup analysts have started to cover shares of Southwest Airlines (NYSE: LUV) in a note to investors on Wednesday, The Fly reports. The brokerage established a “buy” rating on the shares of the airline.
Several other research firms also commented on the LUV. Redburn Partners launched a cover on Southwest Airlines in a report on Wednesday. They set a “buy” rating on the stock. The MKM Partners reduced their price target on Southwest Airlines from $ 74.00 to $ 67.00 and set a “buy” rating for the company in a research report released on Friday, July 23. Morgan Stanley raised its price target on Southwest Airlines from $ 80.00 to $ 85 and rated the stock “overweight” in a research report published on Tuesday, June 15. Barclays raised its price target on Southwest Airlines from $ 51.00 to $ 64.00 in a research report on Thursday, April 15. Finally, the Goldman Sachs group reissued a “buy” note and set a price target of $ 51.30 on Southwest Airlines shares in a research report on Tuesday, July 27. Two research analysts rated the stock with a conservation rating and seventeen gave the company’s stock a buy rating. The company currently has an average “Buy” rating and a consensus target price of $ 59.28.
NYSE: LUV traded up $ 0.14 during the midday session Wednesday, reaching $ 51.25. The company’s shares had a trading volume of 290,452 shares, compared to its average volume of 7,229,718. The company has a market capitalization of $ 30.32 billion, a price / earnings ratio of -18.70 and a beta of 1.24. Southwest Airlines has a 52-week low of $ 33.48 and a 52-week high of $ 64.75. The company’s 50-day simple moving average is $ 53.52. The company has a debt ratio of 0.95, a quick ratio of 1.50, and a current ratio of 1.54.
Southwest Airlines (NYSE: LUV) last released its quarterly earnings data on Wednesday, July 21. The airline reported ($ 0.35) EPS for the quarter, missing analyst consensus estimates of ($ 0.23) by ($ 0.12). Southwest Airlines recorded a negative return on equity of 33.72% and a negative net margin of 16.23%. The company posted revenue of $ 4.01 billion for the quarter, compared to $ 3.94 billion according to analysts’ estimates. During the same period of the previous year, the company made EPS ($ 2.67). Southwest Airlines revenues for the quarter increased 297.6% from the same quarter last year. On average, sell-side analysts expect Southwest Airlines to post earnings per share of -1.31 for the current fiscal year.
Institutional investors have recently changed their positions in the company. Panagora Asset Management Inc. increased its equity stake in Southwest Airlines by 13.2% in the second quarter. Panagora Asset Management Inc. now owns 1,068,805 shares of the airline valued at $ 56,743,000 after acquiring 124,612 additional shares during the last quarter. Westpac Banking Corp increased its holdings of Southwest Airlines shares by 37.8% in the 2nd quarter. Westpac Banking Corp now owns 760,057 shares of the airline valued at $ 40,351,000 after acquiring an additional 208,549 shares in the last quarter. JustInvest LLC increased its stake in Southwest Airlines shares by 18.0% in the 2nd quarter. JustInvest LLC now owns 7,282 shares of the airline valued at $ 387,000 after acquiring 1,111 additional shares in the last quarter. Waters Parkerson & CO. LLC increased its stake in Southwest Airlines shares by 5.3% in the second quarter. Waters Parkerson & CO. LLC now owns 5,899 shares of the airline valued at $ 313,000 after acquiring 299 additional shares during the last quarter. Finally, Greenleaf Trust increased its stake in Southwest Airlines shares by 9.2% in the second quarter. Greenleaf Trust now owns 4,239 shares of the airline valued at $ 225,000 after acquiring 357 additional shares in the last quarter. 75.14% of the shares are currently held by hedge funds and other institutional investors.
About Southwest Airlines
Southwest Airlines Co takes care of the management of a passenger airline. It offers ancillary services such as early check-in, upgraded boarding, and transportation of pets and unaccompanied minors. The company operates in the United States, District of Columbia, Commonwealth of Puerto Rico, Mexico, Jamaica, Bahamas, Aruba, Dominican Republic, Costa Rica, Belize, Cuba, Cayman Islands and Turks Islands and Caicos.
Further reading: What is net income?
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