United Airlines (NASDAQ:UAL) Issues Q2 2024 Earnings Guidance

United Airlines (NASDAQ:UAL) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 3.750-4.250 for the period, compared to the consensus EPS estimate of 3.710. The company issued revenue guidance of -.

United Airlines Stock Up 17.4 %

NASDAQ UAL opened at $48.74 on Thursday. The firm has a market cap of $16.03 billion, a PE ratio of 6.02, a price-to-earnings-growth ratio of 0.58 and a beta of 1.55. United Airlines has a one year low of $33.68 and a one year high of $58.23. The stock’s 50 day simple moving average is $44.09 and its 200 day simple moving average is $41.35. The company has a debt-to-equity ratio of 2.70, a current ratio of 0.83 and a quick ratio of 0.76.

United Airlines (NASDAQ:UAL) last released its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.39. The business had revenue of $13.63 billion for the quarter, compared to analyst estimates of $13.55 billion. United Airlines had a return on equity of 40.50% and a net margin of 4.90%. United Airlines’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.46 EPS. As a group, sell-side analysts forecast that United Airlines will post 9.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on UAL shares. Bank of America upgraded United Airlines from an underperform rating to a buy rating and increased their price target for the stock from $40.00 to $56.00 in a research report on Tuesday, January 9th. Susquehanna decreased their price objective on United Airlines from $60.00 to $55.00 and set a positive rating on the stock in a research report on Tuesday, April 9th. UBS Group began coverage on United Airlines in a research report on Wednesday, March 20th. They issued a neutral rating and a $47.00 price objective on the stock. TD Cowen increased their price objective on United Airlines from $55.00 to $65.00 and gave the company an outperform rating in a research report on Wednesday, January 24th. Finally, Evercore ISI upgraded United Airlines from an in-line rating to an outperform rating and increased their price objective for the company from $58.00 to $65.00 in a research report on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $64.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital International Investors acquired a new stake in shares of United Airlines in the 1st quarter valued at about $351,299,000. Altimeter Capital Management LP bought a new position in shares of United Airlines in the 1st quarter valued at about $115,175,000. Ensign Peak Advisors Inc grew its holdings in shares of United Airlines by 1,248.8% in the 1st quarter. Ensign Peak Advisors Inc now owns 1,474,058 shares of the transportation company’s stock valued at $68,337,000 after acquiring an additional 1,364,768 shares in the last quarter. Man Group plc grew its holdings in shares of United Airlines by 347.1% in the 4th quarter. Man Group plc now owns 1,549,450 shares of the transportation company’s stock valued at $58,414,000 after acquiring an additional 1,202,905 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of United Airlines by 403.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,240,877 shares of the transportation company’s stock valued at $57,527,000 after acquiring an additional 994,335 shares in the last quarter. 69.69% of the stock is currently owned by institutional investors.

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, flight academy, and maintenance services for third parties.