American Airlines Group (NASDAQ:AAL) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

American Airlines Group (NASDAQ:AAL) announced its earnings results on Thursday. The airline reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.05, Briefing.com reports. The firm had revenue of $14.33 billion during the quarter, compared to the consensus estimate of $14.38 billion. American Airlines Group had a negative return on equity of 19.49% and a negative net margin of 0.23%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.92 EPS. American Airlines Group updated its FY24 guidance to $0.70-1.30 EPS and its FY 2024 guidance to 0.700-1.300 EPS.

American Airlines Group Trading Up 0.2 %

NASDAQ AAL traded up $0.02 during trading hours on Friday, reaching $10.62. 45,684,501 shares of the company’s stock were exchanged, compared to its average volume of 35,793,084. The stock has a market cap of $6.97 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 0.36 and a beta of 1.44. American Airlines Group has a one year low of $9.76 and a one year high of $16.87. The firm has a fifty day moving average of $11.51 and a 200-day moving average of $13.40.

Wall Street Analyst Weigh In

Several research firms have commented on AAL. JPMorgan Chase & Co. cut their price target on American Airlines Group from $21.00 to $15.00 in a report on Friday. TD Cowen cut American Airlines Group from a “buy” rating to a “hold” rating and cut their price target for the company from $16.00 to $10.00 in a report on Wednesday, July 17th. TD Securities cut their price target on American Airlines Group from $10.00 to $7.00 in a report on Friday. Sanford C. Bernstein cut American Airlines Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $18.00 to $12.00 in a report on Monday, July 22nd. Finally, Bank of America cut their price target on American Airlines Group from $12.00 to $11.00 and set an “underperform” rating for the company in a report on Wednesday, May 29th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, American Airlines Group currently has a consensus rating of “Hold” and an average price target of $13.80.

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.