LATAM Airlines Group S.A. (NYSE:LTM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of LATAM Airlines Group S.A. (NYSE:LTM) have been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $66.2667.

LTM has been the subject of several research analyst reports. Jefferies Financial Group assumed coverage on shares of LATAM Airlines Group in a report on Thursday, June 18th. They issued a “buy” rating and a $70.00 target price for the company. JPMorgan Chase & Co. began coverage on LATAM Airlines Group in a research report on Wednesday, June 3rd. They set an “overweight” rating and a $70.00 price objective on the stock. Wall Street Zen lowered LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Friday, July 17th. Finally, Zacks Research lowered shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th.

Hedge Funds Weigh In On LATAM Airlines Group

A number of hedge funds have recently added to or reduced their stakes in LTM. Assetmark Inc. grew its stake in LATAM Airlines Group by 684.3% in the 1st quarter. Assetmark Inc. now owns 1,302 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 1,136 shares during the period. Leonteq Securities AG purchased a new position in LATAM Airlines Group during the fourth quarter worth about $78,000. GAMMA Investing LLC raised its stake in LATAM Airlines Group by 26.2% in the second quarter. GAMMA Investing LLC now owns 1,647 shares of the transportation company’s stock valued at $96,000 after purchasing an additional 342 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in LATAM Airlines Group by 6.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,122 shares of the transportation company’s stock valued at $169,000 after purchasing an additional 198 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of LATAM Airlines Group by 22.3% during the 1st quarter. Royal Bank of Canada now owns 3,268 shares of the transportation company’s stock valued at $162,000 after buying an additional 596 shares in the last quarter.

LATAM Airlines Group Trading Down 0.9%

NYSE LTM opened at $50.81 on Tuesday. The firm’s 50 day simple moving average is $52.81 and its 200 day simple moving average is $51.93. The firm has a market capitalization of $14.59 billion, a price-to-earnings ratio of 9.34, a P/E/G ratio of 1.23 and a beta of 3.64. LATAM Airlines Group has a 1 year low of $41.41 and a 1 year high of $70.42.

LATAM Airlines Group (NYSE:LTM) last issued its quarterly earnings results on Tuesday, August 4th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. LATAM Airlines Group had a return on equity of 101.21% and a net margin of 9.69%.The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.06 billion. On average, equities research analysts forecast that LATAM Airlines Group will post 5 earnings per share for the current year.

About LATAM Airlines Group

LATAM Airlines Group SA is a Chile-based airline holding company and one of the largest airline groups in Latin America. Through its operating affiliates and commercial brands, the company provides scheduled passenger and air cargo transportation on domestic and international routes.

LATAM serves markets across South America, including Chile, Brazil, Colombia, Ecuador and Peru, and connects the region with destinations in North America, Europe, Oceania and other international markets. Its passenger services include multiple travel classes and related offerings, while its cargo operations transport freight using both dedicated aircraft and passenger aircraft capacity.

The group was formed in 2012 through the merger of Chile’s LAN Airlines and Brazil’s TAM Airlines.