The Qantas Airways Limited (ASX: QAN) share price is marching higher today. The airline is up 0.99%, outpacing the 0.46% gains posted by the S&P/ASX 200 Index (ASX: XJO) at this same time.
Qantas shares closed yesterday at $5.05 and are currently trading for $5.10.
That gives the flying kangaroo a market cap north of $9.5 billion.
So is the Qantas share price approaching its all-time highs?
Not yet!
The highest ever Qantas share price
2019 was a good year for Qantas shareholders.
The airline paid an interim and final dividend, totalling 25 cents, equating to a yield of 3.5% or more, depending on when you’d bought shares. It was also the last year the COVID-19-battered company paid any dividends.
The year was going so well that by 19 December 2019 the Qantas share price had gained more than 29% in the calendar year.
On that date, Qantas shares closed at $7.40, the highest closing price ever.
Qantas achieved that milestone despite rising fuel costs at the time. The record also came shortly after the airline announced its plans to be net carbon neutral by 2050.
What happened next?
Unless you’ve recently returned from Mars, you’ll likely know what happened soon thereafter.
The Qantas share price slipped heading into early 2020 but remained well above its early 2019 levels, right up until 21 February.
On that date, the great pandemic fuelled sell-off sent almost every ASX share tumbling for the next four weeks. ASX travel shares really got the stuffing knocked out of them as international and domestic borders slammed shut.
By 20 March, Qantas shares had cratered to $2.36, down a gut-wrenching 68% from their 19 December 2019 all-time highs.
Then on 20 March 2020, as you’re also likely aware, investors woke up to the reality that the fire sale had been overdone. And Qantas rallied alongside most ASX 200 shares.
The current Qantas share price of $5.10 may still be down 31% from its record closing high. But shares have gained 116% since the 20 March 2020 lows.
We hope shareholders remained seated with their seatbelts securely fastened.
The post What was the highest ever Qantas share price? appeared first on The Motley Fool Australia.
Should you invest $1,000 in Qantas right now?
Before you consider Qantas, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Qantas wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of January 13th 2022
More reading
- Own Qantas shares? Here’s how the airline is planning to profit from NFTs
- Is the Qantas (ASX:QAN) share price about to soar 40% higher?
- Why Arafura, Block, Magellan, and Qantas shares are storming higher
- Why are ASX travel shares taking off today?
- Qantas share price lifts as CEO takes to the skies
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/Rz0AyEl
Leave a Reply