In the latest trading session, 1.7 million Southwest Airlines Co (NYSE:LUV) shares changed hands as the company’s beta touched 1.16. With the company’s most recent per share price at $28.67 changing hands around $0.26 or 0.91% at last look, the market valuation stands at $17.11B. LUV’s current price is a discount, trading about -37.88% off its 52-week high of $39.53. The share price had its 52-week low at $21.91, which suggests the last value was 23.58% up since then. When we look at Southwest Airlines Co’s average trading volume, we note the 10-day average is 8.78 million shares, with the 3-month average coming to 8.20 million.
Southwest Airlines Co (NYSE:LUV) trade information
Instantly LUV is in green as seen in intraday trades today. With action -0.59%, the performance over the past five days has been red. The jump to weekly highs of 28.93 added 0.91% to the stock’s daily price. The company’s shares are showing year-to-date downside of -0.73%, with the 5-day performance at -0.59% in the red. However, in the 30-day time frame, Southwest Airlines Co (NYSE:LUV) is -16.95% down. Looking at the short shares, we see there were 17.56 million shares sold at short interest cover period of 2.56 days.
Southwest Airlines Co (LUV) estimates and forecasts
Data shows that the Southwest Airlines Co share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 7.94% over the past 6 months, a 5.10% in annual growth rate that is considerably higher than the industry average of -0.60%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Southwest Airlines Co will fall -14.80%, while the growth in revenue is estimated to hit -22.90% for the next quarter. Year-over-year growth is forecast to reach 8.70% up from the last financial year.
Consensus estimates given by 13 financial analysts project the company’s revenue in the current quarter to hit an average of $6.44 billion. 13 analysts are of the opinion that Southwest Airlines Co’s revenue for the quarter ending Jun 2024 will be $7.65 billion. The company’s revenue for the corresponding quarters a year ago was $5.73 billion and $7.04 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 12.50%. The estimates for the next quarter sales put growth at 8.70%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -29.89%. The 2024 estimates are for Southwest Airlines Co earnings to increase by 2.95%, but the outlook for the next 5-year period is at 22.46% per year.
LUV Dividends
Southwest Airlines Co is expected to release its next quarterly earnings report on April 25. The 2.51% annual yield figure for the share gives it an annual dividend of 0.72. It is important to note, however, that the 2.51% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Southwest Airlines Co (NYSE:LUV)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.42% of Southwest Airlines Co shares while 81.99% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 82.33%. There are 81.99% institutions holding the Southwest Airlines Co stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 11.08% of the shares, roughly 65.99 million LUV shares worth $2.39 billion.
Primecap Management Company holds the second largest percentage of outstanding shares, with 8.40% or 50.05 million shares worth $1.81 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard/Primecap Fund and Vanguard Total Stock Market Index Fund. With 25.44 million shares estimated at $921.26 million under it, the former controlled 4.27% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 3.11% of the shares, roughly 18.54 million shares worth around $671.21 million.
