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

American Airlines Group (NASDAQ:AAL) announced its quarterly earnings data on Thursday. The airline reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.05, Briefing.com reports. The firm had revenue of $14.33 billion for the quarter, compared to analyst estimates of $14.38 billion. American Airlines Group had a negative return on equity of 31.65% and a net margin of 0.94%. American Airlines Group’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $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

AAL traded up $0.02 during trading hours on Friday, hitting $10.62. 45,656,402 shares of the stock were exchanged, compared to its average volume of 34,656,098. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 0.22 and a beta of 1.44. The stock has a 50-day simple moving average of $11.59 and a 200-day simple moving average of $13.43. American Airlines Group has a 12 month low of $9.76 and a 12 month high of $16.87.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AAL shares. Susquehanna dropped their price objective on American Airlines Group from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. HSBC assumed coverage on American Airlines Group in a research report on Monday, May 13th. They issued a “buy” rating and a $17.90 price target for the company. TD Cowen lowered shares of American Airlines Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $16.00 to $10.00 in a research report on Wednesday, July 17th. JPMorgan Chase & Co. dropped their target price on shares of American Airlines Group from $21.00 to $15.00 in a report on Friday. Finally, Citigroup dropped their price objective on American Airlines Group from $20.00 to $16.50 and set a “buy” rating for the company in a research report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.