The Qantas Airways Limited (ASX: QAN) share price is at 52-week highs despite the company releasing no news to the market today. The share price lift is on the back of several broker upgrades including from Goldman Sachs this week to a 'buy'.
Qantas is the largest Australia domestic and international airline, operating under two strong brands – Qantas and Jetstar.
In the 2017 financial year Qantas reported its second highest performance in 97 years in profit before tax. Qantas made a profit after tax of $853 million on revenues of $16,057 million, in comparison to the financial year 2016 profit of $1,028 million on $16,200 million in revenues. Earning per share reported in financial year 2017 were 46 cents. Dividend of 7 cents per share was paid in both the 2017 and 2016 financial years.
According to the Financial Times analysts have an average share price target on Qantas of $6.75, with a high estimate of $7.30 and low estimate of $4.55.
