Azul (NYSE:AZUL) Announces Earnings Results

Azul (NYSE:AZUL) issued its quarterly earnings data on Monday. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.63), Yahoo Finance reports. The business had revenue of $800.65 million for the quarter, compared to the consensus estimate of $791.43 million. During the same period last year, the business earned ($0.81) earnings per share.

Azul Trading Up 4.3 %

NYSE:AZUL traded up $0.17 during mid-day trading on Wednesday, hitting $4.15. The stock had a trading volume of 1,332,934 shares, compared to its average volume of 1,665,531. The company has a 50 day simple moving average of $4.48 and a 200-day simple moving average of $6.10. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -1.63 and a beta of 2.00. Azul has a 52 week low of $3.70 and a 52 week high of $11.26.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of Azul from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 10th. Bank of America restated an “underperform” rating and set a $9.50 target price (down from $18.00) on shares of Azul in a research note on Thursday, April 18th. Barclays reduced their price target on Azul from $12.00 to $10.00 and set an “equal weight” rating for the company in a report on Wednesday, May 15th. Deutsche Bank Aktiengesellschaft dropped their price objective on Azul from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Morgan Stanley initiated coverage on Azul in a research note on Friday, May 24th. They set an “equal weight” rating and a $7.40 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Azul has an average rating of “Hold” and a consensus target price of $10.39.

About Azul

Azul SA, together with its subsidiaries, provides air transportation services in Brazil and internationally. As of December 31, 2023, the company operated approximately 1,000 daily departures to 160 destinations through a network of 300 non-stop routes with an operating fleet of 183 aircraft and a passenger contractual fleet of 189 aircraft.