American Airlines Group (NASDAQ:AAL) Stock Price Down 3.1% Following Weak Earnings

American Airlines Group Inc. (NASDAQ:AAL) dropped 3.1% during mid-day trading on Friday following a dissappointing earnings announcement. The stock traded as low as $13.66 and last traded at $13.69. Approximately 5,199,219 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 34,170,055 shares. The stock had previously closed at $14.13.

The airline reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.06). The company had revenue of $12.57 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $0.05 EPS.

Wall Street Analyst Weigh In

Several brokerages recently commented on AAL. UBS Group began coverage on shares of American Airlines Group in a report on Wednesday, March 20th. They set a “buy” rating and a $19.00 target price for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $20.00 target price on shares of American Airlines Group in a report on Tuesday, March 5th. Wolfe Research upgraded shares of American Airlines Group from a “peer perform” rating to an “outperform” rating and set a $17.00 price objective for the company in a research note on Monday, January 22nd. Sanford C. Bernstein lifted their price objective on shares of American Airlines Group from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Finally, Barclays lifted their price objective on shares of American Airlines Group from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.53.

Hedge Funds Weigh In On American Airlines Group

Several hedge funds and other institutional investors have recently made changes to their positions in AAL. Empirical Finance LLC grew its holdings in shares of American Airlines Group by 13.2% during the 3rd quarter. Empirical Finance LLC now owns 21,159 shares of the airline’s stock valued at $271,000 after purchasing an additional 2,462 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of American Airlines Group during the 4th quarter valued at approximately $1,171,000. Assenagon Asset Management S.A. grew its holdings in shares of American Airlines Group by 7,871.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,762,081 shares of the airline’s stock valued at $24,211,000 after purchasing an additional 1,739,977 shares during the last quarter. Compagnie Lombard Odier SCmA grew its holdings in shares of American Airlines Group by 15.2% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 38,500 shares of the airline’s stock valued at $529,000 after purchasing an additional 5,067 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of American Airlines Group by 1,291.7% during the 4th quarter. International Assets Investment Management LLC now owns 215,372 shares of the airline’s stock valued at $29,590,000 after purchasing an additional 199,897 shares during the last quarter. 52.44% of the stock is currently owned by institutional investors and hedge funds.

American Airlines Group Stock Performance

The firm’s fifty day moving average is $14.46 and its 200-day moving average is $13.64. The company has a market capitalization of $9.09 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 0.11 and a beta of 1.57.

American Airlines Group Company Profile

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.