American Airlines Group (NASDAQ:AAL) Releases FY24 Earnings Guidance

American Airlines Group (NASDAQ:AAL) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.70-1.30 for the period, compared to the consensus estimate of $1.85. American Airlines Group also updated its FY 2024 guidance to 0.700-1.300 EPS.

American Airlines Group Stock Up 0.2 %

Shares of NASDAQ:AAL traded up $0.02 on Friday, hitting $10.62. 45,684,501 shares of the company traded hands, compared to its average volume of 35,793,084. The stock has a 50 day simple moving average of $11.51 and a 200-day simple moving average of $13.40. The company has a market cap of $6.97 billion, a PE ratio of 17.70, a PEG ratio of 0.36 and a beta of 1.44. American Airlines Group has a 52 week low of $9.76 and a 52 week high of $16.87.

American Airlines Group (NASDAQ:AAL) last issued its earnings results on Thursday, July 25th. The airline reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.05. The firm had revenue of $14.33 billion for the quarter, compared to the consensus estimate of $14.38 billion. American Airlines Group had a negative net margin of 0.23% and a negative return on equity of 19.49%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.92 earnings per share. As a group, sell-side analysts anticipate that American Airlines Group will post 1.1 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on AAL. Sanford C. Bernstein cut American Airlines Group from an outperform rating to a market perform rating and dropped their price objective for the company from $18.00 to $12.00 in a research report on Monday, July 22nd. Morgan Stanley dropped their price target on shares of American Airlines Group from $20.00 to $18.00 and set an overweight rating on the stock in a report on Monday, June 3rd. TD Cowen cut shares of American Airlines Group from a buy rating to a hold rating and decreased their price objective for the company from $16.00 to $10.00 in a report on Wednesday, July 17th. Evercore dropped their target price on shares of American Airlines Group from $13.00 to $10.00 in a report on Friday. Finally, Bank of America decreased their target price on shares of American Airlines Group from $12.00 to $11.00 and set an underperform rating for the company in a research note on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $13.80.

About American Airlines Group

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.