Southwest Airlines Co (NYSE:LUV) Expected to Post Quarterly Sales of $1.89 Billion

Brokerages expect Southwest Airlines Co (NYSE:LUV) to announce $1.89 billion in sales for the current fiscal quarter, according to Zacks. Ten analysts have issued estimates for Southwest Airlines’ earnings, with the lowest sales estimate coming in at $1.19 billion and the highest estimate coming in at $2.76 billion. Southwest Airlines reported sales of $5.64 billion in the same quarter last year, which indicates a negative year over year growth rate of 66.5%. The company is scheduled to announce its next quarterly earnings results on Thursday, October 22nd.

According to Zacks, analysts expect that Southwest Airlines will report full-year sales of $10.19 billion for the current fiscal year, with estimates ranging from $8.72 billion to $11.62 billion. For the next financial year, analysts anticipate that the company will post sales of $17.56 billion, with estimates ranging from $13.84 billion to $20.41 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Southwest Airlines.

Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Thursday, July 23rd. The airline reported ($2.67) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.53) by ($0.14). The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $867.19 million. Southwest Airlines had a net margin of 0.99% and a negative return on equity of 4.11%. The company’s revenue was down 82.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.37 earnings per share.

LUV has been the subject of several analyst reports. Credit Suisse Group upgraded Southwest Airlines from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $35.00 to $45.00 in a report on Friday, June 12th. UBS Group reissued a “buy” rating on shares of Southwest Airlines in a research note on Thursday, June 4th. Raymond James lowered their price objective on shares of Southwest Airlines from $45.00 to $42.00 and set a “strong-buy” rating for the company in a research note on Monday, July 27th. JPMorgan Chase & Co. boosted their price objective on shares of Southwest Airlines from $34.00 to $40.00 in a research note on Wednesday, June 10th. Finally, Susquehanna Bancshares raised shares of Southwest Airlines from a “neutral” rating to a “positive” rating and set a $41.00 price objective for the company in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Southwest Airlines currently has a consensus rating of “Buy” and a consensus price target of $48.38.

LUV traded down $0.07 during trading on Tuesday, hitting $30.89. The company’s stock had a trading volume of 11,131,689 shares, compared to its average volume of 12,968,345. The firm’s 50 day moving average price is $33.69 and its 200-day moving average price is $39.07. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.70 and a quick ratio of 1.65. The stock has a market cap of $18.22 billion, a PE ratio of 77.23 and a beta of 1.25. Southwest Airlines has a twelve month low of $22.47 and a twelve month high of $58.83.

In other Southwest Airlines news, EVP Andrew M. Watterson sold 8,275 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $31.85, for a total value of $263,558.75. Following the transaction, the executive vice president now owns 52,911 shares in the company, valued at approximately $1,685,215.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.28% of the company’s stock.

A number of hedge funds have recently modified their holdings of LUV. Optimum Investment Advisors acquired a new stake in Southwest Airlines during the second quarter worth about $26,000. Atticus Wealth Management LLC raised its stake in Southwest Airlines by 157.7% during the second quarter. Atticus Wealth Management LLC now owns 817 shares of the airline’s stock worth $28,000 after acquiring an additional 500 shares during the period. Bray Capital Advisors acquired a new stake in Southwest Airlines during the first quarter worth about $30,000. Toth Financial Advisory Corp raised its stake in Southwest Airlines by 427.5% during the second quarter. Toth Financial Advisory Corp now owns 881 shares of the airline’s stock worth $30,000 after acquiring an additional 714 shares during the period. Finally, Arkadios Wealth Advisors raised its stake in Southwest Airlines by 426.3% during the first quarter. Arkadios Wealth Advisors now owns 900 shares of the airline’s stock worth $32,000 after acquiring an additional 729 shares during the period. Hedge funds and other institutional investors own 82.71% of the company’s stock.

About Southwest Airlines

Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 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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