Oppenheimer Holdings Brokers Reduce Earnings Estimates for Air Methods Corp. (AIRM)
Air Methods Corp. (NASDAQ:AIRM) – Equities researchers at Oppenheimer Holdings reduced their Q3 2016 earnings per share (EPS) estimates for shares of Air Methods Corp. in a research note issued on Thursday. Oppenheimer Holdings analyst M. Wiederhorn now forecasts that the firm will post earnings per share of $1.10 for the quarter, down from their previous estimate of $1.16. Oppenheimer Holdings has a “Outperform” rating and a $50.00 price target on the stock. Oppenheimer Holdings also issued estimates for Air Methods Corp.’s FY2016 earnings at $3.02 EPS, Q1 2017 earnings at $0.47 EPS, Q2 2017 earnings at $0.93 EPS, Q3 2017 earnings at $1.37 EPS and FY2017 earnings at $3.56 EPS.
Air Methods Corp. (NASDAQ:AIRM) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by $0.07. Air Methods Corp. had a return on equity of 20.90% and a net margin of 10.18%. The firm earned $292.60 million during the quarter, compared to the consensus estimate of $299.35 million. During the same quarter last year, the company posted $0.69 EPS. Air Methods Corp.’s revenue for the quarter was up 11.0% compared to the same quarter last year.
Separately, Zacks Investment Research cut Air Methods Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $47.67.
Air Methods Corp. (NASDAQ:AIRM) opened at 30.22 on Friday. The stock has a market capitalization of $1.15 billion, a PE ratio of 10.30 and a beta of 1.47. Air Methods Corp. has a 52-week low of $29.70 and a 52-week high of $46.50. The stock’s 50 day moving average price is $32.70 and its 200-day moving average price is $35.00.
Several hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its position in shares of Air Methods Corp. by 173.7% in the first quarter. Renaissance Technologies LLC now owns 467,400 shares of the company’s stock worth $16,929,000 after buying an additional 296,600 shares in the last quarter. Kennedy Capital Management Inc. boosted its position in shares of Air Methods Corp. by 14.3% in the first quarter. Kennedy Capital Management Inc. now owns 425,454 shares of the company’s stock worth $15,410,000 after buying an additional 53,113 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Air Methods Corp. during the first quarter worth about $449,000. Lazard Asset Management LLC acquired a new position in shares of Air Methods Corp. during the first quarter worth about $1,669,000. Finally, State Street Corp boosted its position in shares of Air Methods Corp. by 6.3% in the first quarter. State Street Corp now owns 881,525 shares of the company’s stock worth $31,931,000 after buying an additional 52,333 shares in the last quarter.
In related news, Director Joseph E. Whitters purchased 2,500 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was purchased at an average cost of $32.12 per share, for a total transaction of $80,300.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Sharon J. Keck sold 1,300 shares of the stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $32.43, for a total value of $42,159.00. The disclosure for this sale can be found here. Company insiders own 8.99% of the company’s stock.
About Air Methods Corp.
Air Methods Corporation is engaged in providing air medical emergency transport services and systems throughout the United States. The Company’s segments include Air Medical Services (AMS), Tourism and United Rotorcraft (UR) Division. The Company’s AMS segment provides air medical transportation services to the general population as an independent service and to hospitals or other institutions under exclusive operating agreements.
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