United Airlines (NASDAQ:UAL – Get Rating) issued its earnings results on Tuesday. The transportation company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.66, RTT News reports. The firm had revenue of $12.88 billion during the quarter, compared to analyst estimates of $12.74 billion. United Airlines had a negative net margin of 3.43% and a negative return on equity of 38.92%. The business’s revenue was up 66.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.02) earnings per share.
United Airlines Stock Up 3.2 %
Shares of NASDAQ UAL traded up $1.15 on Tuesday, hitting $37.25. The company had a trading volume of 13,473,824 shares, compared to its average volume of 12,541,338. The firm has a market capitalization of $12.17 billion, a P/E ratio of -9.83 and a beta of 1.24. United Airlines has a 12-month low of $30.54 and a 12-month high of $54.52. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 7.41. The business has a 50 day moving average of $35.85 and a two-hundred day moving average of $38.24.
Insider Activity at United Airlines
In related news, Director Edward Shapiro purchased 25,000 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were acquired at an average cost of $35.84 per share, for a total transaction of $896,000.00. Following the transaction, the director now owns 125,000 shares of the company’s stock, valued at $4,480,000. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.37% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On United Airlines
A number of institutional investors and hedge funds have recently added to or reduced their stakes in UAL. Capital International Investors acquired a new stake in shares of United Airlines in the first quarter worth $351,299,000. Altimeter Capital Management LP purchased a new stake in shares of United Airlines during the first quarter worth $115,175,000. Ensign Peak Advisors Inc raised its holdings in shares of United Airlines by 1,248.8% during the first quarter. Ensign Peak Advisors Inc now owns 1,474,058 shares of the transportation company’s stock worth $68,337,000 after acquiring an additional 1,364,768 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of United Airlines by 403.3% during the first quarter. The Manufacturers Life Insurance Company now owns 1,240,877 shares of the transportation company’s stock worth $57,527,000 after acquiring an additional 994,335 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of United Airlines by 2.1% during the first quarter. Vanguard Group Inc. now owns 34,550,592 shares of the transportation company’s stock worth $1,601,764,000 after acquiring an additional 700,850 shares in the last quarter. 63.72% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on UAL shares. Melius started coverage on shares of United Airlines in a report on Monday, August 15th. They set a “buy” rating on the stock. Susquehanna Bancshares downgraded shares of United Airlines to a “neutral” rating and set a $35.00 price objective on the stock. in a report on Monday, July 25th. StockNews.com started coverage on shares of United Airlines in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Raymond James cut their price objective on shares of United Airlines from $62.00 to $48.00 and set an “outperform” rating on the stock in a report on Thursday, June 23rd. Finally, Cowen dropped their target price on United Airlines from $86.50 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, July 22nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $52.03.
United Airlines Company Profile
United Airlines Holdings, Inc, through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also offers catering, ground handling, training, and maintenance services for third parties.