Zacks: Brokerages Anticipate Air Transport Services Group Inc. (ATSG) Will Announce Quarterly Sales of $270.16 Million

Equities research analysts forecast that Air Transport Services Group Inc. (NASDAQ:ATSG) will announce $270.16 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Air Transport Services Group’s earnings, with the lowest sales estimate coming in at $257.21 million and the highest estimate coming in at $290.00 million. Air Transport Services Group posted sales of $221.68 million during the same quarter last year, which indicates a positive year over year growth rate of 21.9%. The firm is expected to issue its next earnings results on Monday, March 5th.

On average, analysts expect that Air Transport Services Group will report full year sales of $270.16 million for the current fiscal year, with estimates ranging from $1.00 billion to $1.04 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.19 billion per share, with estimates ranging from $1.18 billion to $1.22 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Air Transport Services Group.

Air Transport Services Group (NASDAQ:ATSG) last posted its quarterly earnings data on Monday, November 6th. The transportation company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.01. Air Transport Services Group had a positive return on equity of 16.62% and a negative net margin of 7.77%. The firm had revenue of $254.10 million for the quarter, compared to analysts’ expectations of $256.13 million. During the same period in the previous year, the firm earned $0.14 EPS. The business’s quarterly revenue was up 31.5% on a year-over-year basis.

A number of research analysts have recently weighed in on ATSG shares. Zacks Investment Research cut Air Transport Services Group from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. Stephens reaffirmed a “buy” rating and set a $32.00 price objective on shares of Air Transport Services Group in a research report on Wednesday, January 10th. ValuEngine cut Air Transport Services Group from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Cowen set a $27.00 price objective on Air Transport Services Group and gave the company a “buy” rating in a research report on Friday, October 13th. Finally, BidaskClub cut Air Transport Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $25.57.

In related news, Director Joseph Edward Roux sold 10,012 shares of Air Transport Services Group stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $23.61, for a total transaction of $236,383.32. Following the sale, the director now owns 27,862 shares of the company’s stock, valued at approximately $657,821.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Quint O. Turner sold 6,750 shares of Air Transport Services Group stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $23.98, for a total value of $161,865.00. Following the sale, the chief financial officer now directly owns 264,425 shares in the company, valued at approximately $6,340,911.50. The disclosure for this sale can be found here. Insiders have sold a total of 32,512 shares of company stock worth $776,023 in the last three months. 2.20% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its stake in Air Transport Services Group by 11.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,422,271 shares of the transportation company’s stock worth $56,051,000 after acquiring an additional 241,320 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in Air Transport Services Group by 6.5% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 635,042 shares of the transportation company’s stock worth $14,695,000 after acquiring an additional 38,778 shares during the last quarter. Rice Hall James & Associates LLC increased its stake in Air Transport Services Group by 41.1% in the 4th quarter. Rice Hall James & Associates LLC now owns 811,725 shares of the transportation company’s stock worth $18,783,000 after acquiring an additional 236,637 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Air Transport Services Group by 13.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 374,280 shares of the transportation company’s stock worth $8,661,000 after acquiring an additional 44,136 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Air Transport Services Group by 50,000.0% in the 4th quarter. Bank of Montreal Can now owns 90,180 shares of the transportation company’s stock worth $2,087,000 after acquiring an additional 90,000 shares during the last quarter. 91.12% of the stock is currently owned by institutional investors and hedge funds.

Air Transport Services Group (NASDAQ:ATSG) opened at $24.61 on Friday. Air Transport Services Group has a 12-month low of $15.34 and a 12-month high of $27.67. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.87 and a current ratio of 0.97. The firm has a market capitalization of $1,469.75 and a PE ratio of 31.47.

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About Air Transport Services Group

Air Transport Services Group, Inc (ATSG) is a holding company. The Company provides airline operations, aircraft leases, aircraft maintenance and other support services primarily to the cargo transportation and package delivery industries. It offers aircraft, crew, maintenance and insurance (ACMI) for specified cargo operations.

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Earnings History and Estimates for Air Transport Services Group (NASDAQ:ATSG)

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