LATAM Airlines Group (NYSE:LTM) Announces Quarterly Earnings Results

LATAM Airlines Group (NYSE:LTM) posted its earnings results on Tuesday. The transportation company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.25, FiscalAI reports. LATAM Airlines Group had a return on equity of 127.75% and a net margin of 11.03%.The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.07 billion.

LATAM Airlines Group Stock Performance

Shares of NYSE:LTM traded up $1.18 during trading on Tuesday, reaching $55.69. 820,039 shares of the stock were exchanged, compared to its average volume of 1,110,408. LATAM Airlines Group has a 12-month low of $41.41 and a 12-month high of $70.42. The firm’s 50-day moving average price is $53.65 and its 200 day moving average price is $53.93. The firm has a market cap of $15.99 billion, a price-to-earnings ratio of 9.59, a price-to-earnings-growth ratio of 1.06 and a beta of 3.62.

Analyst Ratings Changes

LTM has been the topic of several recent research reports. Zacks Research upgraded shares of LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Wall Street Zen upgraded shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 23rd. The Goldman Sachs Group restated a “buy” rating and set a $72.60 price objective on shares of LATAM Airlines Group in a research report on Tuesday, May 12th. JPMorgan Chase & Co. began coverage on LATAM Airlines Group in a report on Wednesday, June 3rd. They set an “overweight” rating and a $70.00 target price on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $66.27.

Institutional Trading of LATAM Airlines Group

A number of institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC acquired a new stake in LATAM Airlines Group in the 2nd quarter valued at $90,000. Royal Bank of Canada grew its stake in shares of LATAM Airlines Group by 340.2% in the fourth quarter. Royal Bank of Canada now owns 2,672 shares of the transportation company’s stock valued at $144,000 after buying an additional 2,065 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of LATAM Airlines Group by 113.8% during the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock valued at $100,000 after buying an additional 1,700 shares during the period. Bridgefront Capital LLC purchased a new stake in shares of LATAM Airlines Group during the 4th quarter valued at about $273,000. Finally, Jane Street Group LLC acquired a new position in LATAM Airlines Group during the 2nd quarter worth approximately $237,000.

About LATAM Airlines Group

LATAM Airlines Group SA is a Chilean-based airline holding company formed in 2012 through the merger of LAN Airlines of Chile and TAM Linhas Aéreas of Brazil. The Group offers passenger and cargo air transportation services across South America and beyond, operating under a multi‐brand strategy that encompasses several nationally recognized carriers. Headquartered in Santiago, Chile, LATAM is structured to serve diverse market segments with full-service, premium and low‐cost offerings.

The core business activities of LATAM Airlines Group include scheduled domestic and international passenger flights, air cargo services and maintenance, repair and overhaul (MRO) capabilities through its technical divisions.