LATAM Airlines Group (NYSE:LTM) Posts Earnings Results, Beats Estimates By $0.66 EPS

LATAM Airlines Group (NYSE:LTM) announced its quarterly earnings data on Tuesday. The transportation company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.66, FiscalAI reports. LATAM Airlines Group had a return on equity of 136.61% and a net margin of 10.07%.The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $3.93 billion.

LATAM Airlines Group Stock Up 2.3%

LTM traded up $1.03 on Tuesday, reaching $46.29. The company’s stock had a trading volume of 992,383 shares, compared to its average volume of 971,595. The stock has a 50 day moving average of $50.78 and a two-hundred day moving average of $52.46. The company has a market capitalization of $13.29 billion, a price-to-earnings ratio of 9.09, a P/E/G ratio of 1.26 and a beta of 3.62. LATAM Airlines Group has a fifty-two week low of $32.03 and a fifty-two week high of $70.42.

Hedge Funds Weigh In On LATAM Airlines Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new stake in shares of LATAM Airlines Group in the fourth quarter valued at approximately $83,266,000. Arrowstreet Capital Limited Partnership raised its stake in shares of LATAM Airlines Group by 248.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,484,669 shares of the transportation company’s stock worth $67,181,000 after purchasing an additional 1,058,554 shares during the last quarter. Burkehill Global Management LP purchased a new stake in shares of LATAM Airlines Group during the third quarter worth approximately $42,988,000. Zimmer Partners LP purchased a new stake in shares of LATAM Airlines Group during the third quarter worth approximately $37,331,000. Finally, Vanguard Group Inc. raised its stake in shares of LATAM Airlines Group by 266.7% during the third quarter. Vanguard Group Inc. now owns 1,039,414 shares of the transportation company’s stock worth $47,033,000 after purchasing an additional 755,997 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LTM shares. Morgan Stanley raised LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $61.00 to $60.00 in a research report on Thursday, March 26th. The Goldman Sachs Group raised LATAM Airlines Group from a “neutral” rating to a “buy” rating and set a $63.40 price objective for the company in a research report on Monday, April 13th. Citigroup raised LATAM Airlines Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $53.00 to $58.00 in a research report on Tuesday, March 17th. Zacks Research downgraded LATAM Airlines Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Finally, Barclays lowered their price target on LATAM Airlines Group from $75.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, LATAM Airlines Group has an average rating of “Moderate Buy” and an average price target of $62.10.

LATAM Airlines Group Company Profile

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.