$2.69 Billion in Sales Expected for LATAM Airlines Group SA (LTM) This Quarter
Brokerages predict that LATAM Airlines Group SA (NYSE:LTM) will report $2.69 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for LATAM Airlines Group’s earnings, with estimates ranging from $2.68 billion to $2.69 billion. LATAM Airlines Group posted sales of $2.42 billion in the same quarter last year, which suggests a positive year over year growth rate of 11.2%. The business is scheduled to report its next earnings results on Wednesday, March 21st.
According to Zacks, analysts expect that LATAM Airlines Group will report full-year sales of $2.69 billion for the current fiscal year, with estimates ranging from $10.08 billion to $10.14 billion. For the next fiscal year, analysts expect that the business will report sales of $10.70 billion per share, with estimates ranging from $10.48 billion to $11.09 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover LATAM Airlines Group.
A number of brokerages recently issued reports on LTM. Santander lowered LATAM Airlines Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Bank of America reissued a “neutral” rating on shares of LATAM Airlines Group in a research note on Tuesday, October 24th. TheStreet lowered LATAM Airlines Group from a “c-” rating to a “d+” rating in a research note on Friday, August 18th. Finally, Zacks Investment Research lowered LATAM Airlines Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 7th. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $10.67.
Shares of LATAM Airlines Group (NYSE:LTM) opened at $12.08 on Friday. LATAM Airlines Group has a one year low of $8.07 and a one year high of $15.06. The stock has a market capitalization of $7,325.40, a P/E ratio of 50.33 and a beta of 1.55.
Several hedge funds have recently modified their holdings of LTM. Renaissance Technologies LLC lifted its stake in shares of LATAM Airlines Group by 37.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,448,995 shares of the transportation company’s stock worth $27,110,000 after acquiring an additional 673,500 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of LATAM Airlines Group by 594.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 500,010 shares of the transportation company’s stock worth $5,535,000 after acquiring an additional 428,012 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of LATAM Airlines Group during the 2nd quarter worth approximately $3,866,000. Vanguard Group Inc. increased its holdings in LATAM Airlines Group by 173.6% during the 2nd quarter. Vanguard Group Inc. now owns 538,560 shares of the transportation company’s stock worth $5,962,000 after purchasing an additional 341,742 shares during the period. Finally, Morgan Stanley increased its holdings in LATAM Airlines Group by 1,184.2% during the 1st quarter. Morgan Stanley now owns 231,640 shares of the transportation company’s stock worth $2,934,000 after purchasing an additional 213,602 shares during the period. 3.11% of the stock is owned by hedge funds and other institutional investors.
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LATAM Airlines Group Company Profile
LATAM Airlines Group SA is a Chile-based company, which is engaged in passenger and cargo air transportation, both in the domestic markets of Chile, Peru, Argentina, Colombia, Ecuador and Brazil and in a developed series of regional and international routes in America, Europe and Oceania. These businesses are performed directly or through its subsidiaries in different countries.
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