Azul (NYSE:AZUL) Releases Quarterly Earnings Results, Misses Estimates By $0.63 EPS

Azul (NYSE:AZUL) released its quarterly earnings results on Monday. The company reported ($1.23) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.63), Yahoo Finance reports. The firm had revenue of $800.65 million during the quarter, compared to analyst estimates of $791.43 million. During the same period in the prior year, the company posted ($0.81) EPS.

Azul Stock Up 4.3 %

NYSE:AZUL traded up $0.17 during trading hours on Wednesday, reaching $4.15. 1,332,934 shares of the company’s stock were exchanged, compared to its average volume of 1,665,531. The company has a 50-day moving average of $4.48 and a 200 day moving average of $6.10. Azul has a 1-year low of $3.70 and a 1-year high of $11.26. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -1.63 and a beta of 2.00.

Analyst Upgrades and Downgrades

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

Azul Company Profile

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.