Air Transport Services Group (NASDAQ:ATSG) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Air Transport Services Group (NASDAQ:ATSG) announced its earnings results on Thursday. The transportation company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03, Briefing.com reports. The company had revenue of $488.41 million during the quarter, compared to analysts’ expectations of $513.67 million. Air Transport Services Group had a return on equity of 6.61% and a net margin of 2.37%. Air Transport Services Group’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period last year, the business posted $0.57 EPS.

Air Transport Services Group Stock Up 17.3 %

Shares of ATSG stock traded up $2.30 on Friday, reaching $15.56. 959,562 shares of the stock were exchanged, compared to its average volume of 547,068. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 24.70 and a beta of 0.84. The business’s 50 day moving average price is $14.09 and its 200 day moving average price is $13.77. The company has a current ratio of 0.75, a quick ratio of 0.63 and a debt-to-equity ratio of 1.20. Air Transport Services Group has a twelve month low of $11.62 and a twelve month high of $23.28.

Analysts Set New Price Targets

ATSG has been the subject of several recent research reports. Truist Financial lowered their price objective on shares of Air Transport Services Group from $20.00 to $14.00 and set a “hold” rating for the company in a research note on Friday, April 19th. StockNews.com raised shares of Air Transport Services Group from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Susquehanna upped their price objective on Air Transport Services Group from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Finally, TD Cowen lifted their target price on Air Transport Services Group from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Air Transport Services Group has an average rating of “Moderate Buy” and an average target price of $21.83.

About Air Transport Services Group

Air Transport Services Group, Inc, together with its subsidiaries, provides aircraft leasing, and air cargo transportation and related services in the United States and internationally. It operates in two segments, Cargo Aircraft Management Inc (CAM) and ACMI Services. The company offers aircraft, flight crews, aircraft hull and liability insurance, and aviation fuel services; and aircraft maintenance and modification services, including airframe modification and heavy maintenance, component repairs, engineering services, and aircraft line maintenance.