Hawaiian Holdings Inc. (HA) Announces Earnings Results, Beats Estimates By $0.08 EPS
Hawaiian Holdings Inc. (NASDAQ:HA) released its quarterly earnings results on Tuesday. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.08. The company earned $671.83 million during the quarter, compared to analysts’ expectations of $669.22 million. Hawaiian Holdings had a return on equity of 50.15% and a net margin of 10.50%. Hawaiian Holdings’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 EPS.
Shares of Hawaiian Holdings (NASDAQ:HA) traded down 2.26% on Wednesday, reaching $47.99. The company had a trading volume of 1,173,744 shares. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 11.36 and a beta of 1.30. Hawaiian Holdings has a 1-year low of $28.40 and a 1-year high of $51.53. The firm has a 50-day moving average price of $48.13 and a 200 day moving average price of $44.32.
In other news, Director William S. Swelbar sold 16,577 shares of Hawaiian Holdings stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $44.59, for a total transaction of $739,168.43. Following the completion of the sale, the director now directly owns 12,675 shares in the company, valued at approximately $565,178.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Theodoros Panagiotoulias sold 1,508 shares of Hawaiian Holdings stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $47.19, for a total transaction of $71,162.52. Following the sale, the senior vice president now owns 12,332 shares of the company’s stock, valued at $581,947.08. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Fiera Capital Corp bought a new position in shares of Hawaiian Holdings during the second quarter valued at about $33,414,000. Vanguard Group Inc. increased its position in shares of Hawaiian Holdings by 13.5% in the second quarter. Vanguard Group Inc. now owns 5,958,584 shares of the company’s stock valued at $226,188,000 after buying an additional 706,642 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Hawaiian Holdings by 37.6% in the first quarter. Renaissance Technologies LLC now owns 2,154,200 shares of the company’s stock valued at $101,657,000 after buying an additional 588,300 shares in the last quarter. Numeric Investors LLC increased its position in shares of Hawaiian Holdings by 87.0% in the second quarter. Numeric Investors LLC now owns 1,163,169 shares of the company’s stock valued at $44,154,000 after buying an additional 541,015 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new position in shares of Hawaiian Holdings during the second quarter valued at about $15,873,000. Institutional investors own 88.11% of the company’s stock.
A number of equities analysts recently weighed in on HA shares. Deutsche Bank AG raised Hawaiian Holdings from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Monday, June 27th. They noted that the move was a valuation call. Vetr upgraded Hawaiian Holdings from a “buy” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Monday, June 27th. Zacks Investment Research lowered Hawaiian Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 6th. Cowen and Company boosted their price objective on Hawaiian Holdings from $46.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, July 22nd. Finally, Bank of America Corp. reiterated a “hold” rating and set a $47.00 price objective on shares of Hawaiian Holdings in a research note on Friday, July 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $50.00.
Hawaiian Holdings Company Profile
Hawaiian Holdings, Inc is a holding company. The Company, through its subsidiary, Hawaiian Airlines, Inc (Hawaiian) is engaged in the scheduled air transportation of passengers and cargo. The Company offers transportation amongst the Hawaiian Islands (the Neighbor Island routes); between the Hawaiian Islands and certain cities in the United States (the North America routes), and between the Hawaiian Islands and the South Pacific, Australia, New Zealand and Asia (the International routes), collectively referred to as the Company’s Scheduled Operations.
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