United Airlines (NASDAQ:UAL – Get Free Report) declared that its Board of Directors has initiated a stock buyback program on Tuesday, October 15th, RTT News reports. The company plans to buyback $1.50 billion in outstanding shares. This buyback authorization permits the transportation company to purchase up to 7.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Analyst Ratings Changes
Several research firms have commented on UAL. Jefferies Financial Group raised their price target on United Airlines from $69.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Susquehanna upped their price target on shares of United Airlines from $60.00 to $70.00 and gave the stock a “positive” rating in a research note on Wednesday, October 9th. Finally, TD Cowen raised their price objective on shares of United Airlines from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $74.32.
Read Our Latest Research Report on UAL
United Airlines Trading Up 0.8 %
United Airlines (NASDAQ:UAL – Get Free Report) last issued its earnings results on Wednesday, July 17th. The transportation company reported $4.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.97 by $0.17. United Airlines had a return on equity of 33.90% and a net margin of 5.28%. The firm had revenue of $14.99 billion for the quarter, compared to analysts’ expectations of $15.04 billion. During the same quarter last year, the business earned $5.03 earnings per share. The company’s revenue was up 5.7% compared to the same quarter last year. On average, equities analysts predict that United Airlines will post 9.88 EPS for the current year.
About United Airlines
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.
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