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

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

United Airlines Price Performance

UAL opened at $51.38 on Friday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.76 and a current ratio of 0.75. The stock has a market capitalization of $16.89 billion, a P/E ratio of 6.35, a P/E/G ratio of 0.52 and a beta of 1.55. The company’s 50-day simple moving average is $44.47 and its two-hundred day simple moving average is $41.49. United Airlines has a 52-week low of $33.68 and a 52-week high of $58.23.

United Airlines (NASDAQ:UAL) last posted its earnings results on Tuesday, January 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.39. United Airlines had a net margin of 4.90% and a return on equity of 39.85%. The business had revenue of $13.63 billion for the quarter, compared to analysts’ expectations of $13.55 billion. During the same quarter in the prior year, the business earned $2.46 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, analysts predict that United Airlines will post 9.78 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on UAL. Redburn Atlantic lowered shares of United Airlines from a buy rating to a neutral rating and set a $50.00 target price for the company. in a report on Tuesday, February 13th. TD Cowen increased their target price on shares of United Airlines from $55.00 to $65.00 and gave the stock an outperform rating in a report on Wednesday, January 24th. Morgan Stanley increased their target price on shares of United Airlines from $75.00 to $80.00 and gave the stock an overweight rating in a report on Thursday. UBS Group began coverage on shares of United Airlines in a report on Wednesday, March 20th. They issued a neutral rating and a $47.00 target price for the company. Finally, Susquehanna increased their target price on shares of United Airlines from $55.00 to $60.00 and gave the stock a positive rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $66.53.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Oarsman Capital Inc. bought a new position in shares of United Airlines during the 4th quarter valued at approximately $217,000. Public Employees Retirement System of Ohio boosted its position in shares of United Airlines by 2.4% during 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 last quarter. Virtus ETF Advisers LLC lifted its position in United Airlines by 27.4% in the fourth quarter. Virtus ETF Advisers LLC now owns 16,519 shares of the transportation company’s stock worth $682,000 after buying an additional 3,553 shares during the last quarter. Legal & General Group Plc lifted its position in United Airlines by 8.4% in the fourth quarter. Legal & General Group Plc now owns 563,067 shares of the transportation company’s stock worth $23,232,000 after buying an additional 43,611 shares during the last quarter. Finally, NWI Management LP lifted its position in United Airlines by 92.3% in the fourth quarter. NWI Management LP now owns 375,000 shares of the transportation company’s stock worth $15,473,000 after buying an additional 180,000 shares during the last quarter. 69.69% of the stock is currently owned by institutional investors.

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.