United Airlines (NASDAQ:UAL) Releases FY 2024 Earnings Guidance

United Airlines (NASDAQ:UAL) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 9.000-11.000 for the period, compared to the consensus estimate of 9.670. The company issued revenue guidance of -.

United Airlines Trading Up 17.5 %

UAL stock traded up $7.26 during midday trading on Wednesday, reaching $48.76. 56,949,180 shares of the company’s stock traded hands, compared to its average volume of 9,751,373. The company has a market capitalization of $16.03 billion, a P/E ratio of 6.11, a PEG ratio of 0.58 and a beta of 1.55. The company has a debt-to-equity ratio of 2.70, a current ratio of 0.83 and a quick ratio of 0.76. United Airlines has a fifty-two week low of $33.68 and a fifty-two week high of $58.23. The business has a 50-day moving average price of $43.94 and a two-hundred day moving average price of $41.30.

United Airlines (NASDAQ:UAL) last posted its earnings results on Tuesday, January 23rd. The transportation company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.39. United Airlines had a net margin of 4.87% and a return on equity of 41.01%. The business had revenue of $13.63 billion for the quarter, compared to analysts’ expectations of $13.55 billion. During the same period in the previous year, the company posted $2.46 earnings per share. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities research analysts forecast that United Airlines will post 9.46 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on UAL. Evercore ISI raised shares of United Airlines from an in-line rating to an outperform rating and upped their price objective for the stock from $58.00 to $65.00 in a report on Friday, February 9th. Raymond James cut their price target on shares of United Airlines from $68.00 to $65.00 and set an outperform rating for the company in a report on Wednesday, December 20th. StockNews.com downgraded shares of United Airlines from a hold rating to a sell rating in a report on Friday, April 12th. Susquehanna reduced their price objective on shares of United Airlines from $60.00 to $55.00 and set a positive rating for the company in a research note on Tuesday, April 9th. Finally, TD Cowen upped their price objective on shares of United Airlines from $55.00 to $65.00 and gave the company an outperform rating in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $64.60.

Hedge Funds Weigh In On United Airlines

A number of large investors have recently bought and sold shares of the company. Oarsman Capital Inc. bought a new stake in United Airlines in the 4th quarter valued at $217,000. Public Employees Retirement System of Ohio raised its stake in United Airlines by 2.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 193,087 shares of the transportation company’s stock valued at $7,967,000 after acquiring an additional 4,572 shares during the period. Virtus ETF Advisers LLC grew its holdings in United Airlines by 27.4% in the 4th quarter. Virtus ETF Advisers LLC now owns 16,519 shares of the transportation company’s stock valued at $682,000 after buying an additional 3,553 shares in the last quarter. Legal & General Group Plc grew its holdings in United Airlines by 8.4% in the 4th quarter. Legal & General Group Plc now owns 563,067 shares of the transportation company’s stock valued at $23,232,000 after buying an additional 43,611 shares in the last quarter. Finally, NWI Management LP grew its holdings in United Airlines by 92.3% in the 4th quarter. NWI Management LP now owns 375,000 shares of the transportation company’s stock valued at $15,473,000 after buying an additional 180,000 shares in the last quarter. Institutional investors and hedge funds own 69.69% of the company’s stock.

United Airlines Company Profile

United Airlines Holdings, Inc, through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also offers catering, ground handling, flight academy, and maintenance services for third parties.