Brokerages Expect Air Transport Services Group Inc. (NASDAQ:ATSG) Will Post Quarterly Sales of $334.29 Million

Wall Street brokerages forecast that Air Transport Services Group Inc. (NASDAQ:ATSG) will report $334.29 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Air Transport Services Group’s earnings. The highest sales estimate is $342.70 million and the lowest is $322.58 million. Air Transport Services Group reported sales of $204.92 million in the same quarter last year, which would suggest a positive year over year growth rate of 63.1%. The firm is scheduled to issue its next earnings report on Thursday, November 7th.

On average, analysts expect that Air Transport Services Group will report full year sales of $1.38 billion for the current fiscal year, with estimates ranging from $1.38 billion to $1.39 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.48 billion, with estimates ranging from $1.47 billion to $1.49 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Air Transport Services Group.

Air Transport Services Group (NASDAQ:ATSG) last posted its quarterly earnings data on Monday, August 5th. The transportation company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.03. Air Transport Services Group had a net margin of 2.13% and a return on equity of 21.56%. The company had revenue of $334.60 million during the quarter, compared to the consensus estimate of $333.05 million. During the same period in the prior year, the business posted $0.28 EPS. The company’s quarterly revenue was up 64.3% on a year-over-year basis.

A number of equities analysts have recently commented on ATSG shares. TheStreet downgraded shares of Air Transport Services Group from a “b-” rating to a “c” rating in a research note on Monday, August 5th. Zacks Investment Research upgraded shares of Air Transport Services Group from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Tuesday, October 8th. Finally, BidaskClub downgraded shares of Air Transport Services Group from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $27.80.

Air Transport Services Group stock opened at $20.46 on Friday. The firm has a 50-day moving average of $20.68 and a 200-day moving average of $22.18. Air Transport Services Group has a one year low of $17.06 and a one year high of $25.82. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.92 and a quick ratio of 0.78. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 16.37 and a beta of 0.95.

In other news, Director Robert K. Coretz bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $200,000.00. Following the purchase, the director now owns 135,000 shares of the company’s stock, valued at approximately $2,700,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider W Joseph Payne sold 3,200 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $23.04, for a total transaction of $73,728.00. Following the completion of the sale, the insider now owns 152,681 shares of the company’s stock, valued at $3,517,770.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 13,400 shares of company stock valued at $269,516 and have sold 9,750 shares valued at $227,234. Corporate insiders own 2.30% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Air Transport Services Group by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 5,119,375 shares of the transportation company’s stock valued at $124,912,000 after purchasing an additional 32,729 shares during the last quarter. Waddell & Reed Financial Inc. lifted its stake in Air Transport Services Group by 8.7% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,860,565 shares of the transportation company’s stock valued at $45,398,000 after purchasing an additional 148,852 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Air Transport Services Group by 2.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,530,305 shares of the transportation company’s stock valued at $37,340,000 after purchasing an additional 42,413 shares during the last quarter. Private Capital Management LLC lifted its stake in Air Transport Services Group by 0.6% in the 2nd quarter. Private Capital Management LLC now owns 1,351,641 shares of the transportation company’s stock valued at $32,980,000 after purchasing an additional 8,515 shares during the last quarter. Finally, Emerald Advisers LLC lifted its stake in Air Transport Services Group by 15.1% in the 2nd quarter. Emerald Advisers LLC now owns 989,714 shares of the transportation company’s stock valued at $24,149,000 after purchasing an additional 130,078 shares during the last quarter. Institutional investors and hedge funds own 87.09% of the company’s stock.

Air Transport Services Group Company Profile

Air Transport Services Group, Inc, through its subsidiaries, operates in the airfreight and logistics industry. The company owns and leases cargo aircraft to airlines and other customers. It also provides airline operations to delivery companies, airlines, freight forwarders, and the U.S. Military, as well as operates charter agreements.

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

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