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Published: Thu, October 27, 2016
Economy | By Melissa Porter

Southwest 3Q profit falls 34 percent on higher costs

Southwest 3Q profit falls 34 percent on higher costs

For the reporting quarter, equity analysts expect the stock to deliver $0.88 in earnings per share (EPS). The company has a market cap of $26.02 billion, a PE ratio of 11.13 and a beta of 0.80.

Many analysts are providing their Estimated Earnings analysis for Southwest Airlines Co. and for the current quarter 15 analysts have projected that the stock could give an Average Earnings estimate of $0.88/share.

Analysts had expected the company to earn $0.88 per share, according figures compiled by Thomson Reuters.

Southwest Airlines reported revenues of $5,139 million, which edged past the Zacks Consensus Estimate of $5,132 million.

Revenue of $5.14 billion, missing estimates by $0.03 billion.

"We plan to slow our 2017 available seat mile growth rate to less than 4.0 percent, year-over-year, with approximately 2.0 points of the increase relating to domestic growth". Wealth Enhancement Advisory Services LLC boosted its stake in Southwest Airlines by 12.2% in the second quarter.

Southwest Airlines Co (NYSE:LUV) shares moved to $37.29 after opening the day at $37.70 on Wednesday.

Southwest, like other airlines, has experienced pressure from lower ticket prices amid greater competition in their industry. The company stock was initiated at Outperform, wrote analysts at Bernstein, in a research note issued to clients on Tuesday October 11, 2016. Morgan Stanley reissued a "hold" rating and set a $43.00 price target on shares of Southwest Airlines in a report on Sunday, August 21st. The company's Market capitalization is $22.95 Billion with the total Outstanding Shares of 638.69 million. Extending back, their 50-Day Simple Moving Average is -2.95%, looking even further back, their 200-Day Simple Moving Average stands at -7.68%. The Company Touched its 52-Week High on Dec 7, 2015 and 52-Week Low on Feb 8, 2016.

Southwest Airlines Company (NYSE:LUV) now has P/E (Price to Earnings) ratio of 11.2 while the company's industry has 2.77 P/E and the sector P/E is 21.78.

While looking at the Stock's Performance, Southwest Airlines Co. now shows a Weekly Performance of 0.65%, where Monthly Performance is 13.78%, Quarterly performance is 12.23%, 6 Months performance is -7.47% and yearly performance percentage is -7.57%. The shares were bought at an average price of $35.58 per share, with a total value of $1,000,011.48. Shelton Capital Management now owns 32,514 shares of the airline's stock worth $1,275,000 after buying an additional 6,652 shares during the last quarter.

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