American Airlines Group (NASDAQ:AAL) Posts Earnings Results, Beats Estimates By $0.05 EPS

American Airlines Group (NASDAQ:AAL) announced its earnings results on Thursday. The airline reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.05, Briefing.com reports. The business had revenue of $14.33 billion for the quarter, compared to analyst estimates of $14.38 billion. American Airlines Group had a net margin of 0.94% and a negative return on equity of 31.65%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.92 earnings per share. 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 Price Performance

NASDAQ:AAL traded up $0.02 during trading hours on Friday, reaching $10.62. 45,656,402 shares of the company traded hands, compared to its average volume of 34,656,098. The firm’s 50-day moving average is $11.59 and its 200-day moving average is $13.43. The stock has a market cap of $6.97 billion, a P/E ratio of 17.45, a P/E/G ratio of 0.22 and a beta of 1.44. American Airlines Group has a 1-year low of $9.76 and a 1-year high of $16.87.

Wall Street Analyst Weigh In

Several analysts have issued reports on AAL shares. Evercore ISI dropped their target price on American Airlines Group to $10.00 in a report on Friday. Seaport Res Ptn lowered shares of American Airlines Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. TD Securities reduced their price objective on shares of American Airlines Group from $10.00 to $7.00 in a report on Friday. Jefferies Financial Group downgraded shares of American Airlines Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $17.00 to $12.00 in a research note on Wednesday, May 29th. Finally, HSBC assumed coverage on shares of American Airlines Group in a report on Monday, May 13th. They set a “buy” rating and a $17.90 price objective on the stock. Two equities 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, the company currently has an average rating of “Hold” and an average price target of $13.80.

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.