American Airlines Group (NASDAQ:AAL) Releases FY24 Earnings Guidance

American Airlines Group (NASDAQ:AAL) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.25-3.25 for the period, compared to the consensus estimate of $2.34. American Airlines Group also updated its FY 2024 guidance to 2.250-3.250 EPS.

American Airlines Group Price Performance

NASDAQ AAL traded down $0.25 on Friday, hitting $13.88. The stock had a trading volume of 36,486,942 shares, compared to its average volume of 34,585,641. The business’s fifty day moving average price is $14.47 and its 200 day moving average price is $13.61. American Airlines Group has a 52-week low of $10.86 and a 52-week high of $19.08. The stock has a market cap of $9.09 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 0.11 and a beta of 1.57.

American Airlines Group (NASDAQ:AAL) last released its quarterly earnings results on Thursday, April 25th. The airline reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.06). American Airlines Group had a negative return on equity of 36.28% and a net margin of 1.56%. The firm had revenue of $12.57 billion during the quarter, compared to analysts’ expectations of $12.60 billion. During the same period in the prior year, the firm posted $0.05 earnings per share. American Airlines Group’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that American Airlines Group will post 2.45 EPS for the current year.

Analysts Set New Price Targets

AAL has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of American Airlines Group from $19.00 to $22.00 and gave the stock an overweight rating in a report on Friday, January 26th. Citigroup reiterated a buy rating and set a $20.00 price objective on shares of American Airlines Group in a research note on Thursday, March 14th. Evercore ISI reiterated a hold rating and set a $17.00 price objective on shares of American Airlines Group in a research note on Monday, January 29th. Morgan Stanley reiterated an overweight rating and set a $20.00 price objective on shares of American Airlines Group in a research note on Tuesday, March 5th. Finally, Jefferies Financial Group upgraded shares of American Airlines Group from a hold rating to a buy rating and set a $18.00 price objective for the company in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $17.53.

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.