United Airlines (NASDAQ:UAL) Updates 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 Price Performance

United Airlines stock traded up $7.19 during midday trading on Wednesday, reaching $48.69. 64,183,612 shares of the stock traded hands, compared to its average volume of 9,805,078. The stock has a market cap of $16.01 billion, a P/E ratio of 6.11, a PEG ratio of 0.58 and a beta of 1.55. The stock’s fifty day moving average is $43.94 and its 200-day moving average is $41.30. The company has a quick ratio of 0.76, a current ratio of 0.83 and a debt-to-equity ratio of 2.70. United Airlines has a 12 month low of $33.68 and a 12 month high of $58.23.

United Airlines (NASDAQ:UAL) last posted its earnings results on Tuesday, January 23rd. The transportation company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.39. United Airlines had a return on equity of 41.01% and a net margin of 4.87%. The firm had revenue of $13.63 billion during the quarter, compared to the consensus estimate of $13.55 billion. During the same period in the prior year, the company earned $2.46 EPS. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, equities research analysts anticipate that United Airlines will post 9.46 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Bank of America upgraded United Airlines from an underperform rating to a buy rating and lifted their target price for the stock from $40.00 to $56.00 in a report on Tuesday, January 9th. Susquehanna lowered their target price on shares of United Airlines from $60.00 to $55.00 and set a positive rating for the company in a report on Tuesday, April 9th. Raymond James reduced their price objective on shares of United Airlines from $68.00 to $65.00 and set an outperform rating on the stock in a research report on Wednesday, December 20th. Evercore ISI raised United Airlines from an in-line rating to an outperform rating and upped their target price for the company from $58.00 to $65.00 in a research note on Friday, February 9th. Finally, TD Cowen lifted their target price on United Airlines from $55.00 to $65.00 and gave the company an outperform rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $64.60.

Institutional Investors Weigh In On United Airlines

Several hedge funds and other institutional investors have recently made changes to their positions in UAL. Capital International Investors purchased a new stake in shares of United Airlines in the 1st quarter valued at approximately $351,299,000. Altimeter Capital Management LP purchased a new position in United Airlines in the first quarter worth approximately $115,175,000. Ensign Peak Advisors Inc increased its stake in United Airlines by 1,248.8% during the first quarter. Ensign Peak Advisors Inc now owns 1,474,058 shares of the transportation company’s stock worth $68,337,000 after acquiring an additional 1,364,768 shares during the last quarter. Man Group plc raised its position in United Airlines by 347.1% in the fourth quarter. Man Group plc now owns 1,549,450 shares of the transportation company’s stock valued at $58,414,000 after purchasing an additional 1,202,905 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of United Airlines by 403.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,240,877 shares of the transportation company’s stock worth $57,527,000 after purchasing an additional 994,335 shares during the period. 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.