United Airlines (NASDAQ:UAL) Releases Earnings Results, Beats Estimates By $0.23 EPS

United Airlines (NASDAQ:UAL) posted its quarterly earnings data on Tuesday. The transportation company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23, Yahoo Finance reports. United Airlines had a net margin of 5.28% and a return on equity of 33.90%. The company had revenue of $14.84 billion during the quarter, compared to the consensus estimate of $14.76 billion. During the same period in the prior year, the business posted $3.65 EPS. United Airlines updated its Q4 guidance to $2.50-$3.00 EPS and its Q4 2024 guidance to 2.500-3.000 EPS.

United Airlines Stock Performance

Shares of NASDAQ:UAL traded up $0.99 on Thursday, reaching $73.00. 3,206,480 shares of the company’s stock were exchanged, compared to its average volume of 8,615,266. The company has a fifty day moving average of $50.08 and a 200-day moving average of $49.33. United Airlines has a twelve month low of $33.68 and a twelve month high of $73.87. The company has a market capitalization of $24.00 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 0.94 and a beta of 1.44. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 2.07.

United Airlines declared that its Board of Directors has initiated a share buyback program on Tuesday, October 15th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the transportation company to buy up to 7.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Bank of America increased their price objective on shares of United Airlines from $70.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays upped their target price on shares of United Airlines from $66.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday. Jefferies Financial Group upped their target price on shares of United Airlines from $69.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Morgan Stanley upped their target price on shares of United Airlines from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday. Finally, TD Cowen upped their target price on shares of United Airlines from $80.00 to $100.00 and gave the company a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.37.

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.