Azul (NYSE:AZUL) Issues Quarterly Earnings Results, Misses Estimates By $0.63 EPS

Azul (NYSE:AZUL) posted its quarterly earnings results on Monday. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.63), Yahoo Finance reports. The company had revenue of $800.65 million for the quarter, compared to analysts’ expectations of $791.43 million. During the same period in the previous year, the business earned ($0.81) earnings per share.

Azul Stock Up 4.0 %

AZUL stock traded up $0.16 during midday trading on Wednesday, reaching $4.14. The company’s stock had a trading volume of 1,437,063 shares, compared to its average volume of 1,665,863. The business’s 50-day simple moving average is $4.48 and its 200-day simple moving average is $6.10. The stock has a market cap of $1.75 billion, a PE ratio of -1.63 and a beta of 2.00. Azul has a 52 week low of $3.70 and a 52 week high of $11.26.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AZUL shares. Barclays dropped their price objective on shares of Azul from $12.00 to $10.00 and set an “equal weight” rating for the company in a report on Wednesday, May 15th. JPMorgan Chase & Co. lowered shares of Azul from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 10th. Bank of America reaffirmed an “underperform” rating and set a $9.50 price objective (down previously from $18.00) on shares of Azul in a report on Thursday, April 18th. Morgan Stanley started coverage on shares of Azul in a report on Friday, May 24th. They set an “equal weight” rating and a $7.40 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Azul from $8.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Azul presently has a consensus rating of “Hold” and a consensus price target of $10.39.

Azul Company Profile

Azul SA, together with its subsidiaries, provides air transportation services in Brazil and internationally. As of December 31, 2023, the company operated approximately 1,000 daily departures to 160 destinations through a network of 300 non-stop routes with an operating fleet of 183 aircraft and a passenger contractual fleet of 189 aircraft.