Air Transport Services Group (NASDAQ:ATSG) Posts Earnings Results, Beats Estimates By $0.03 EPS

Air Transport Services Group (NASDAQ:ATSG) issued its quarterly earnings data on Monday. The transportation company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03, Briefing.com reports. Air Transport Services Group had a return on equity of 7.93% and a net margin of 2.91%. The business had revenue of $485.50 million for the quarter, compared to the consensus estimate of $479.77 million. During the same quarter last year, the business posted $0.36 EPS. The firm’s revenue was down 3.1% compared to the same quarter last year. Air Transport Services Group updated its FY24 guidance to $0.55-0.80 EPS and its FY 2024 guidance to 0.550-0.800 EPS.

Air Transport Services Group Stock Up 11.0 %

Air Transport Services Group stock opened at $14.71 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.74 and a debt-to-equity ratio of 1.25. Air Transport Services Group has a 1-year low of $11.62 and a 1-year high of $24.96. The company has a fifty day simple moving average of $12.86 and a 200 day simple moving average of $15.01. The company has a market cap of $966.15 million, a P/E ratio of 19.61 and a beta of 0.85.

Analyst Upgrades and Downgrades

Several brokerages have commented on ATSG. Susquehanna dropped their target price on shares of Air Transport Services Group from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. StockNews.com raised shares of Air Transport Services Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Truist Financial lowered their target price on Air Transport Services Group from $20.00 to $14.00 and set a “hold” rating for the company in a report on Friday, April 19th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Air Transport Services Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.33.

Air Transport Services Group Company Profile

Air Transport Services Group, Inc, together with its subsidiaries, provides aircraft leasing, and air cargo transportation and related services in the United States and internationally. It operates in two segments, Cargo Aircraft Management Inc (CAM) and ACMI Services. The company offers aircraft, flight crews, aircraft hull and liability insurance, and aviation fuel services; and aircraft maintenance and modification services, including airframe modification and heavy maintenance, component repairs, engineering services, and aircraft line maintenance.