American Airlines Group (NASDAQ:AAL) Releases Quarterly Earnings Results

American Airlines Group (NASDAQ:AAL) announced its quarterly earnings data on Thursday. The airline reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.05, Briefing.com reports. The business had revenue of $14.33 billion for the quarter, compared to analysts’ expectations of $14.38 billion. American Airlines Group had a negative return on equity of 31.65% and a net margin of 0.94%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $1.92 earnings per share. American Airlines Group updated its FY24 guidance to $0.70-1.30 EPS and its FY 2024 guidance to 0.700-1.300 EPS.

American Airlines Group Stock Up 0.2 %

Shares of AAL traded up $0.02 during midday trading on Friday, hitting $10.62. The company had a trading volume of 45,656,402 shares, compared to its average volume of 34,656,098. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 0.22 and a beta of 1.44. The company’s 50 day moving average price is $11.59 and its 200 day moving average price is $13.43. American Airlines Group has a 52 week low of $9.76 and a 52 week high of $16.87.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. TD Securities cut their price target on American Airlines Group from $10.00 to $7.00 in a report on Friday. Bank of America reduced their target price on shares of American Airlines Group from $12.00 to $11.00 and set an “underperform” rating on the stock in a report on Wednesday, May 29th. Barclays lowered their price target on shares of American Airlines Group from $14.00 to $10.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. JPMorgan Chase & Co. decreased their price target on American Airlines Group from $21.00 to $15.00 in a report on Friday. Finally, Evercore dropped their price objective on American Airlines Group from $13.00 to $10.00 in a report on Friday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, American Airlines Group currently has a consensus rating of “Hold” and an average target price of $13.80.

American Airlines Group Company Profile

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.