Air Methods Corp. (AIRM) Forecasted to Post Q3 2016 Earnings of $1.14 Per Share
Air Methods Corp. (NASDAQ:AIRM) – Equities researchers at KeyCorp dropped their Q3 2016 earnings estimates for shares of Air Methods Corp. in a note issued to investors on Thursday. KeyCorp analyst J. Gurda now anticipates that the brokerage will post earnings of $1.14 per share for the quarter, down from their prior estimate of $1.18. KeyCorp also issued estimates for Air Methods Corp.’s FY2016 earnings at $3.12 EPS.
Air Methods Corp. (NASDAQ:AIRM) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by $0.07. The business had revenue of $292.60 million for the quarter, compared to analysts’ expectations of $299.35 million. Air Methods Corp. had a return on equity of 20.90% and a net margin of 10.18%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 EPS.
A number of other analysts also recently issued reports on the company. Zacks Investment Research downgraded Air Methods Corp. from a “hold” rating to a “sell” rating in a report on Wednesday. Oppenheimer Holdings Inc. cut their target price on Air Methods Corp. from $58.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $47.67.
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Shares of Air Methods Corp. (NASDAQ:AIRM) traded down 3.124% during trading on Friday, reaching $29.741. The company’s stock had a trading volume of 172,872 shares. Air Methods Corp. has a 52 week low of $29.73 and a 52 week high of $46.50. The company has a 50 day moving average price of $32.79 and a 200 day moving average price of $35.05. The firm has a market capitalization of $1.13 billion, a P/E ratio of 10.137 and a beta of 1.47.
A number of institutional investors have recently modified their holdings of the stock. Eqis Capital Management Inc. bought a new position in shares of Air Methods Corp. during the third quarter valued at about $282,000. Macquarie Group Ltd. boosted its position in shares of Air Methods Corp. by 27.6% in the second quarter. Macquarie Group Ltd. now owns 593,888 shares of the company’s stock valued at $21,279,000 after buying an additional 128,463 shares during the period. Mason Street Advisors LLC bought a new position in shares of Air Methods Corp. during the second quarter valued at about $245,000. Schwab Charles Investment Management Inc. boosted its position in shares of Air Methods Corp. by 3.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 166,903 shares of the company’s stock valued at $5,981,000 after buying an additional 4,800 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Air Methods Corp. by 0.6% in the second quarter. American Century Companies Inc. now owns 41,096 shares of the company’s stock valued at $1,472,000 after buying an additional 228 shares during the period.
In related news, insider Sharon J. Keck sold 1,300 shares of the business’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $32.43, for a total value of $42,159.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph E. Whitters purchased 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was bought at an average price of $32.12 per share, for a total transaction of $80,300.00. The disclosure for this purchase can be found here. Insiders own 8.99% of the company’s stock.
Air Methods Corp. Company Profile
Air Methods Corporation is engaged in providing air medical emergency transport services and systems throughout the United States. The Company’s segments include Air Medical Services (AMS), Tourism and United Rotorcraft (UR) Division. The Company’s AMS segment provides air medical transportation services to the general population as an independent service and to hospitals or other institutions under exclusive operating agreements.
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