American Airlines Group Inc. (NASDAQ:AAL – Get Rating) – Equities research analysts at Zacks Research dropped their FY2023 earnings per share (EPS) estimates for shares of American Airlines Group in a research note issued on Wednesday, June 14th. Zacks Research analyst M. Basu now anticipates that the airline will post earnings per share of $2.72 for the year, down from their previous estimate of $2.98. The consensus estimate for American Airlines Group’s current full-year earnings is $2.82 per share. Zacks Research also issued estimates for American Airlines Group’s Q3 2024 earnings at $0.78 EPS and FY2024 earnings at $2.51 EPS.
American Airlines Group (NASDAQ:AAL – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The airline reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $12.19 billion during the quarter, compared to analysts’ expectations of $12.20 billion. American Airlines Group had a negative return on equity of 26.84% and a net margin of 3.39%. The business’s revenue for the quarter was up 37.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.32) earnings per share.
A number of other analysts have also recently weighed in on the company. Citigroup increased their price target on American Airlines Group from $15.50 to $17.00 and gave the stock a “neutral” rating in a research report on Monday, June 5th. Royal Bank of Canada raised American Airlines Group to an “outperform” rating in a research note on Tuesday, June 6th. StockNews.com initiated coverage on American Airlines Group in a research note on Thursday, May 18th. They set a “buy” rating for the company. Susquehanna lowered their price target on American Airlines Group from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, April 13th. Finally, Barclays lifted their price objective on American Airlines Group from $14.00 to $15.00 in a research report on Friday, March 10th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $17.87.
American Airlines Group Price Performance
Shares of NASDAQ AAL opened at $16.48 on Friday. American Airlines Group has a 1-year low of $11.65 and a 1-year high of $17.64. The business has a 50-day moving average of $14.25 and a 200-day moving average of $14.68. The company has a market capitalization of $10.76 billion, a price-to-earnings ratio of 6.53 and a beta of 1.52.
Insider Transactions at American Airlines Group
In other American Airlines Group news, SVP Angela Owens sold 21,984 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $13.79, for a total transaction of $303,159.36. Following the sale, the senior vice president now owns 59,830 shares of the company’s stock, valued at $825,055.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Douglas M. Steenland sold 1,950 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $14.10, for a total transaction of $27,495.00. Following the completion of the sale, the director now owns 29,736 shares in the company, valued at approximately $419,277.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Angela Owens sold 21,984 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $13.79, for a total transaction of $303,159.36. Following the completion of the transaction, the senior vice president now directly owns 59,830 shares of the company’s stock, valued at $825,055.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,934 shares of company stock worth $358,414. Corporate insiders own 0.78% of the company’s stock.
Institutional Trading of American Airlines Group
Hedge funds have recently made changes to their positions in the stock. EP Wealth Advisors LLC purchased a new position in shares of American Airlines Group in the first quarter valued at about $324,000. Advisory Services Network LLC increased its holdings in American Airlines Group by 66.2% during the first quarter. Advisory Services Network LLC now owns 9,995 shares of the airline’s stock valued at $147,000 after buying an additional 3,980 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of American Airlines Group by 1.5% in the first quarter. Rockefeller Capital Management L.P. now owns 65,214 shares of the airline’s stock worth $961,000 after purchasing an additional 976 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its stake in shares of American Airlines Group by 1.2% in the first quarter. Chevy Chase Trust Holdings LLC now owns 378,102 shares of the airline’s stock worth $5,577,000 after purchasing an additional 4,304 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of American Airlines Group by 17.7% in the first quarter. First Trust Advisors LP now owns 379,052 shares of the airline’s stock worth $5,591,000 after purchasing an additional 56,898 shares in the last quarter. 54.84% of the stock is owned by institutional investors.
About American Airlines Group
American Airlines Group Inc, through its subsidiaries, operates as a network air carrier. The company provides scheduled air transportation services for passengers and cargo through its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, DC, as well as through partner gateways in London, Doha, Madrid, Seattle/Tacoma, Sydney, and Tokyo.
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