Seaport Res Ptn Brokers Raise Earnings Estimates for American Airlines Group Inc. (NASDAQ:AAL)

American Airlines Group Inc. (NASDAQ:AAL) – Equities research analysts at Seaport Res Ptn boosted their Q3 2024 earnings per share estimates for shares of American Airlines Group in a research note issued on Monday, June 24th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the airline will earn $0.75 per share for the quarter, up from their previous forecast of $0.60. Seaport Res Ptn currently has a “Hold” rating on the stock. The consensus estimate for American Airlines Group’s current full-year earnings is $2.07 per share. Seaport Res Ptn also issued estimates for American Airlines Group’s Q4 2024 earnings at $0.70 EPS and FY2024 earnings at $2.25 EPS.

A number of other equities research analysts have also recently commented on AAL. Jefferies Financial Group cut American Airlines Group from a “buy” rating to a “hold” rating and decreased their price target for the company from $17.00 to $12.00 in a report on Wednesday, May 29th. TD Cowen decreased their price target on American Airlines Group from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. Sanford C. Bernstein raised their price target on American Airlines Group from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Citigroup decreased their price target on American Airlines Group from $20.00 to $16.50 and set a “buy” rating on the stock in a report on Friday, May 31st. Finally, Morgan Stanley decreased their price target on American Airlines Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, June 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $16.53.

American Airlines Group Stock Performance

Shares of American Airlines Group stock opened at $11.28 on Wednesday. American Airlines Group has a one year low of $10.86 and a one year high of $19.08. The stock’s fifty day moving average is $12.96 and its 200 day moving average is $13.86. The stock has a market cap of $7.40 billion, a P/E ratio of 18.80, a P/E/G ratio of 0.20 and a beta of 1.49.

American Airlines Group (NASDAQ:AAL) last released its quarterly earnings results on Thursday, April 25th. The airline reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.06). The firm had revenue of $12.57 billion during the quarter, compared to analysts’ expectations of $12.60 billion. American Airlines Group had a negative return on equity of 31.65% and a net margin of 0.94%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business earned $0.05 earnings per share.

Hedge Funds Weigh In On American Airlines Group

A number of large investors have recently bought and sold shares of AAL. Qube Research & Technologies Ltd bought a new position in American Airlines Group in the third quarter worth approximately $28,867,000. U S Global Investors Inc. increased its position in shares of American Airlines Group by 18.7% during the fourth quarter. U S Global Investors Inc. now owns 12,675,358 shares of the airline’s stock worth $174,159,000 after purchasing an additional 2,001,247 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of American Airlines Group by 7,871.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,762,081 shares of the airline’s stock worth $24,211,000 after purchasing an additional 1,739,977 shares in the last quarter. Norges Bank acquired a new position in shares of American Airlines Group during the fourth quarter worth $22,819,000. Finally, Vanguard Group Inc. increased its position in shares of American Airlines Group by 1.1% during the first quarter. Vanguard Group Inc. now owns 76,177,845 shares of the airline’s stock worth $1,169,330,000 after purchasing an additional 806,770 shares in the last quarter. Institutional investors own 52.44% of the company’s stock.

About American Airlines Group

American Airlines Group Inc, through its subsidiaries, operates as a network air carrier. The company provides scheduled air transportation services for passengers and cargo through its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, DC, as well as through partner gateways in London, Doha, Madrid, Seattle/Tacoma, Sydney, and Tokyo.