Q2 2022 EPS Estimates for Southwest Airlines Co. Reduced by Seaport Res Ptn (NYSE:LUV)

Southwest Airlines Co. (NYSE:LUVGet Rating) – Research analysts at Seaport Res Ptn lowered their Q2 2022 earnings per share estimates for Southwest Airlines in a note issued to investors on Wednesday, June 15th. Seaport Res Ptn analyst D. Mckenzie now forecasts that the airline will post earnings of $1.15 per share for the quarter, down from their previous estimate of $1.20. The consensus estimate for Southwest Airlines’ current full-year earnings is $2.66 per share. Seaport Res Ptn also issued estimates for Southwest Airlines’ Q3 2022 earnings at $0.95 EPS, Q4 2022 earnings at $0.75 EPS and FY2022 earnings at $2.55 EPS.

Southwest Airlines (NYSE:LUVGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The airline reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.02. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Southwest Airlines had a negative return on equity of 4.39% and a net margin of 3.17%. The firm’s quarterly revenue was up 128.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.72) earnings per share.

Several other equities research analysts have also issued reports on LUV. Barclays dropped their price objective on Southwest Airlines from $59.00 to $55.00 in a research note on Thursday, April 7th. JPMorgan Chase & Co. lifted their price objective on Southwest Airlines from $62.00 to $72.00 in a research note on Friday, April 29th. Citigroup lifted their price target on Southwest Airlines from $48.00 to $53.00 in a research note on Monday, May 2nd. StockNews.com started coverage on Southwest Airlines in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Raymond James lifted their price target on Southwest Airlines from $54.00 to $57.00 in a research note on Friday, April 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $54.00.

NYSE:LUV opened at $35.63 on Monday. The firm has a market capitalization of $21.13 billion, a price-to-earnings ratio of 37.90, a P/E/G ratio of 2.20 and a beta of 0.92. Southwest Airlines has a 52-week low of $34.36 and a 52-week high of $56.47. The stock has a fifty day moving average of $44.06 and a 200 day moving average of $43.73. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.81 and a current ratio of 1.87.

In related news, Director John T. Montford sold 2,300 shares of the business’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $45.70, for a total transaction of $105,110.00. Following the transaction, the director now owns 23,296 shares in the company, valued at approximately $1,064,627.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.32% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the business. Atticus Wealth Management LLC boosted its position in shares of Southwest Airlines by 78.9% in the 1st quarter. Atticus Wealth Management LLC now owns 567 shares of the airline’s stock worth $26,000 after purchasing an additional 250 shares in the last quarter. Archer Investment Corp bought a new stake in shares of Southwest Airlines in the 4th quarter worth approximately $25,000. Tcwp LLC bought a new stake in shares of Southwest Airlines in the 1st quarter worth approximately $27,000. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Southwest Airlines in the 4th quarter worth approximately $26,000. Finally, Cornerstone Advisory LLC bought a new stake in shares of Southwest Airlines in the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 76.74% of the company’s stock.

About Southwest Airlines (Get Rating)

Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2021, the company operated a total fleet of 728 Boeing 737 aircrafts; and served 121 destinations in 42 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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