Air Transport Services Group (NASDAQ:ATSG) Releases FY24 Earnings Guidance

Air Transport Services Group (NASDAQ:ATSG) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.55-0.80 for the period, compared to the consensus estimate of $0.70. Air Transport Services Group also updated its FY 2024 guidance to 0.550-0.800 EPS.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ATSG. TD Cowen lifted their price objective on Air Transport Services Group from $16.00 to $18.00 and gave the stock a buy rating in a report on Wednesday. Truist Financial lowered their price target 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. StockNews.com upgraded Air Transport Services Group from a sell rating to a hold rating in a report on Tuesday. Finally, Susquehanna boosted their price target on Air Transport Services Group from $14.00 to $15.00 and gave the company a neutral rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $21.83.

Air Transport Services Group Stock Performance

NASDAQ:ATSG traded down $0.01 during midday trading on Thursday, reaching $14.58. 58,865 shares of the company traded hands, compared to its average volume of 612,149. Air Transport Services Group has a twelve month low of $11.62 and a twelve month high of $24.96. The firm has a market capitalization of $957.67 million, a price-to-earnings ratio of 23.16 and a beta of 0.85. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.86 and a quick ratio of 0.74. The company has a fifty day moving average price of $12.91 and a 200 day moving average price of $15.01.

Air Transport Services Group (NASDAQ:ATSG) last announced its quarterly earnings results on Monday, May 6th. The transportation company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. Air Transport Services Group had a return on equity of 7.93% and a net margin of 2.91%. The company had revenue of $485.50 million during the quarter, compared to analyst estimates of $479.77 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. On average, analysts expect that Air Transport Services Group will post 0.73 EPS for the current fiscal year.

About Air Transport Services Group

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.