$724.08 Million in Sales Expected for Hawaiian Holdings, Inc. (HA) This Quarter
Analysts predict that Hawaiian Holdings, Inc. (NASDAQ:HA) will report sales of $724.08 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Hawaiian Holdings’ earnings, with the lowest sales estimate coming in at $714.45 million and the highest estimate coming in at $734.90 million. Hawaiian Holdings posted sales of $671.84 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.8%. The company is expected to issue its next quarterly earnings report on Tuesday, October 17th.
According to Zacks, analysts expect that Hawaiian Holdings will report full-year sales of $724.08 million for the current year, with estimates ranging from $2.66 billion to $2.70 billion. For the next financial year, analysts forecast that the company will report sales of $2.75 billion per share, with estimates ranging from $2.68 billion to $2.86 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Hawaiian Holdings.
Hawaiian Holdings (NASDAQ:HA) last announced its quarterly earnings results on Tuesday, July 25th. The transportation company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.53 by $0.05. Hawaiian Holdings had a return on equity of 44.12% and a net margin of 8.88%. The company had revenue of $675.33 million for the quarter, compared to the consensus estimate of $676.59 million. During the same quarter last year, the company posted $1.21 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year.
Several equities research analysts have commented on the company. BidaskClub cut Hawaiian Holdings from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Stifel Nicolaus upgraded Hawaiian Holdings from a “sell” rating to a “hold” rating and set a $40.00 price objective on the stock in a research note on Friday, July 28th. Citigroup Inc. dropped their price objective on Hawaiian Holdings from $62.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 26th. Imperial Capital reiterated an “outperform” rating and set a $74.00 price objective on shares of Hawaiian Holdings in a research note on Thursday, July 27th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $40.00 price objective (down previously from $41.00) on shares of Hawaiian Holdings in a research note on Wednesday, July 26th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $52.25.
In other Hawaiian Holdings news, insider Mark B. Dunkerley sold 18,000 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $53.71, for a total value of $966,780.00. Following the transaction, the insider now directly owns 357,942 shares of the company’s stock, valued at approximately $19,225,064.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark B. Dunkerley sold 19,000 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $56.91, for a total value of $1,081,290.00. Following the completion of the transaction, the insider now directly owns 352,942 shares in the company, valued at $20,085,929.22. The disclosure for this sale can be found here. Insiders have sold a total of 55,000 shares of company stock worth $2,918,460 over the last three months. 2.30% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Flinton Capital Management LLC raised its position in shares of Hawaiian Holdings by 2.3% in the first quarter. Flinton Capital Management LLC now owns 2,492 shares of the transportation company’s stock worth $116,000 after buying an additional 56 shares in the last quarter. Americafirst Capital Management LLC purchased a new position in shares of Hawaiian Holdings during the first quarter worth approximately $127,000. First Mercantile Trust Co. raised its position in shares of Hawaiian Holdings by 17.2% in the first quarter. First Mercantile Trust Co. now owns 2,954 shares of the transportation company’s stock worth $137,000 after buying an additional 434 shares in the last quarter. Neuburgh Advisers LLC raised its position in shares of Hawaiian Holdings by 2.3% in the first quarter. Neuburgh Advisers LLC now owns 3,026 shares of the transportation company’s stock worth $141,000 after buying an additional 68 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of Hawaiian Holdings by 42.4% in the first quarter. US Bancorp DE now owns 3,400 shares of the transportation company’s stock worth $158,000 after buying an additional 1,012 shares in the last quarter. 91.92% of the stock is currently owned by hedge funds and other institutional investors.
Hawaiian Holdings (HA) opened at 42.25 on Monday. The firm’s 50-day moving average price is $46.25 and its 200 day moving average price is $49.78. The firm has a market cap of $2.26 billion, a P/E ratio of 10.28 and a beta of 1.38. Hawaiian Holdings has a one year low of $39.45 and a one year high of $60.90.
Hawaiian Holdings declared that its board has authorized a share repurchase program on Thursday, April 20th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the transportation company to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
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Hawaiian Holdings Company Profile
Hawaiian Holdings, Inc is a holding company. The Company is engaged in the scheduled air transportation of passengers and cargo amongst the Hawaiian Islands (the Neighbor Island routes), between the Hawaiian Islands and certain cities in the United States (the North America routes), and between the Hawaiian Islands and the South Pacific, Australia, New Zealand and Asia (the International routes), collectively referred to as its Scheduled Operations.
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