Zacks: Brokerages Anticipate American Airlines Group, Inc. (AAL) Will Post Quarterly Sales of $10.91 Billion
Wall Street analysts predict that American Airlines Group, Inc. (NASDAQ:AAL) will post $10.91 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for American Airlines Group’s earnings. The highest sales estimate is $10.94 billion and the lowest is $10.88 billion. American Airlines Group reported sales of $10.59 billion in the same quarter last year, which would indicate a positive year over year growth rate of 3%. The company is scheduled to report its next quarterly earnings results on Thursday, October 19th.
On average, analysts expect that American Airlines Group will report full year sales of $10.91 billion for the current financial year, with estimates ranging from $41.78 billion to $42.09 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $43.50 billion per share, with estimates ranging from $42.95 billion to $44.29 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow American Airlines Group.
American Airlines Group (NASDAQ:AAL) last posted its quarterly earnings data on Friday, July 28th. The airline reported $1.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.05. American Airlines Group had a net margin of 5.02% and a return on equity of 83.58%. The company had revenue of $11.11 billion for the quarter, compared to the consensus estimate of $11.08 billion. During the same period last year, the company earned $1.77 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year.
A number of equities analysts have recently weighed in on AAL shares. BidaskClub lowered American Airlines Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 16th. Morgan Stanley reaffirmed an “equal weight” rating and set a $49.00 target price (up from $46.00) on shares of American Airlines Group in a research report on Friday, June 16th. Atlantic Securities started coverage on American Airlines Group in a research report on Tuesday, June 20th. They set an “underweight” rating and a $56.00 target price on the stock. Bank of America Corporation upped their target price on American Airlines Group from $40.00 to $42.00 and gave the stock an “underperform” rating in a research report on Friday, June 30th. Finally, Citigroup Inc. upped their target price on American Airlines Group from $58.00 to $67.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. American Airlines Group has a consensus rating of “Buy” and an average target price of $56.97.
In other news, Director Ray M. Robinson sold 3,476 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $46.76, for a total transaction of $162,537.76. Following the completion of the sale, the director now directly owns 29,938 shares of the company’s stock, valued at approximately $1,399,900.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Elise R. Eberwein sold 50,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $50.35, for a total value of $2,517,500.00. Following the sale, the executive vice president now directly owns 312,368 shares of the company’s stock, valued at $15,727,728.80. The disclosure for this sale can be found here. Insiders sold a total of 63,476 shares of company stock valued at $3,159,738 over the last three months. 0.64% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the company. MCF Advisors LLC bought a new position in shares of American Airlines Group during the 2nd quarter worth $106,000. Westside Investment Management Inc. grew its stake in shares of American Airlines Group by 3.5% during the 2nd quarter. Westside Investment Management Inc. now owns 2,116 shares of the airline’s stock worth $111,000 after acquiring an additional 72 shares during the period. First Manhattan Co. grew its stake in shares of American Airlines Group by 3.3% during the 2nd quarter. First Manhattan Co. now owns 2,380 shares of the airline’s stock worth $119,000 after acquiring an additional 75 shares during the period. WFG Advisors LP grew its stake in shares of American Airlines Group by 28.1% during the 2nd quarter. WFG Advisors LP now owns 2,367 shares of the airline’s stock worth $119,000 after acquiring an additional 519 shares during the period. Finally, D. Scott Neal Inc. bought a new position in shares of American Airlines Group during the 2nd quarter worth $120,000. 81.56% of the stock is owned by hedge funds and other institutional investors.
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Shares of American Airlines Group (NASDAQ AAL) opened at 50.56 on Friday. The firm has a market capitalization of $24.62 billion, a P/E ratio of 12.55 and a beta of 0.99. American Airlines Group has a 12-month low of $36.80 and a 12-month high of $54.48. The stock has a 50 day moving average of $46.02 and a 200-day moving average of $47.09.
American Airlines Group Company Profile
American Airlines Group Inc is a holding company. The Company’s primary business activity is the operation of a network air carrier, providing scheduled air transportation for passengers and cargo. The Company operates through American segment, which provides air transportation for passengers and cargo.
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