American Airlines beats 2Q profit forecasts
American’s second-quarter system traffic increased 1.1% year-over-year to 57.82 billion RPMs on a 1.9% rise in capacity to 69.4 billion ASMs, producing a load factor of 83.3%, down 0.7 points. (NASDAQ:AAL) is next slated to report quarterly results on 2015-07-24 where the Street is anticipating earnings per share of $2.59. A total of 073 shares were purchased at a price of $53.45 per share. Analysts expect American Airlines Group to post earnings of $2.62 per share and revenue of $10.89 billion for the quarter.
Doug Parker, chairman and CEO of American Airline remains confident regarding the earnings release and said, “These results are especially remarkable considering the significant and successful work underway to integrate two airlines”. The 52-week high of the share price is $56.2 and the 52-week low is $28.1. The standard deviation reading, which is a measure by which the stock price is expected to swing away from the mean estimate, is at $9.56. In a research note released to the investors, Morgan Stanley assumes its rating on American Airlines Group, Inc. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.58 per share. (NASDAQ:AAL): On Wednesday heightened volatility was witnessed in American Airlines Group, Inc.
Airlines Group (AAL) came into existence following the December 2013 merger of AMR (American Airlines’ parent group) and US Airways. This is a one-year consensus target based on 12 sell-side analysts providing estimates. EPS for the same period registers at $4.58. The 50-day moving average is $41.04 and the 200 day moving average is recorded at $47.43. The company has a market cap of $29.52 billion and a P/E ratio of 9.31. Also, EVP Stephen L. Johnson sold 87,161 shares of American Airlines Group stock in a transaction that occurred on Thursday, May 7th. The disclosure for this sale can be found here.
As many as 13 brokerage firms have rated American Airlines Group Inc. The Company’s principal subsidiary is American Airlines, Inc.
American Airlines also benefited from lower crude oil prices. As of December 31, 2011, AMR Eagle operated approximately 1,500 daily departures, offering scheduled passenger service to over 175 destinations in North America, Mexico and the Caribbean.