American Airlines Group Inc (NASDAQ:AAL) Expected to Announce Quarterly Sales of $11.96 Billion
Analysts forecast that American Airlines Group Inc (NASDAQ:AAL) will announce $11.96 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for American Airlines Group’s earnings, with the lowest sales estimate coming in at $11.92 billion and the highest estimate coming in at $11.97 billion. American Airlines Group posted sales of $11.64 billion during the same quarter last year, which would indicate a positive year over year growth rate of 2.7%. The business is scheduled to issue its next quarterly earnings report on Thursday, July 25th.
According to Zacks, analysts expect that American Airlines Group will report full year sales of $46.34 billion for the current fiscal year, with estimates ranging from $46.16 billion to $46.61 billion. For the next year, analysts forecast that the company will post sales of $48.63 billion, with estimates ranging from $48.07 billion to $49.48 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover American Airlines Group.
American Airlines Group (NASDAQ:AAL) last released its earnings results on Friday, April 26th. The airline reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The company had revenue of $10.58 billion during the quarter, compared to analysts’ expectations of $10.61 billion. American Airlines Group had a negative return on equity of 356.47% and a net margin of 3.15%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.75 EPS.
In other American Airlines Group news, CEO W Douglas Parker bought 50,000 shares of American Airlines Group stock in a transaction on Tuesday, June 4th. The shares were purchased at an average cost of $28.09 per share, for a total transaction of $1,404,500.00. Following the completion of the acquisition, the chief executive officer now owns 2,201,636 shares in the company, valued at approximately $61,843,955.24. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John T. Cahill purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was purchased at an average price of $28.60 per share, for a total transaction of $715,000.00. Following the completion of the acquisition, the director now owns 3,494 shares of the company’s stock, valued at $99,928.40. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 95,000 shares of company stock worth $2,674,350. Corporate insiders own 0.70% of the company’s stock.
Several institutional investors have recently modified their holdings of AAL. Oregon Public Employees Retirement Fund lifted its holdings in shares of American Airlines Group by 2,405.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,249,791 shares of the airline’s stock valued at $132,000 after purchasing an additional 4,080,170 shares in the last quarter. FMR LLC lifted its holdings in shares of American Airlines Group by 37.5% in the fourth quarter. FMR LLC now owns 14,226,885 shares of the airline’s stock valued at $456,824,000 after purchasing an additional 3,883,285 shares in the last quarter. Norges Bank bought a new stake in American Airlines Group during the fourth quarter worth about $86,014,000. Harris Associates L P raised its holdings in American Airlines Group by 14.0% during the fourth quarter. Harris Associates L P now owns 18,951,352 shares of the airline’s stock worth $608,528,000 after acquiring an additional 2,328,627 shares in the last quarter. Finally, Anchor Bolt Capital LP bought a new stake in American Airlines Group during the fourth quarter worth about $57,924,000. Institutional investors own 79.41% of the company’s stock.
NASDAQ AAL opened at $31.10 on Thursday. The firm has a market capitalization of $13.83 billion, a PE ratio of 6.84 and a beta of 1.61. American Airlines Group has a 52 week low of $27.02 and a 52 week high of $43.89.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 7th. This represents a $0.40 annualized dividend and a yield of 1.29%. American Airlines Group’s dividend payout ratio is presently 8.79%.
About American Airlines Group
American Airlines Group Inc, through its subsidiaries, operates as a network air carrier. It provides scheduled air transportation services for passengers and cargo. As of December 31, 2018, the company operated a mainline fleet of 956 aircraft. It serves 350 destinations in approximately 50 countries, principally from its hubs in Charlotte, Chicago, Dallas/Fort Worth, London Heathrow, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, DC The company was formerly known as AMR Corporation and changed its name to American Airlines Group Inc in December 2013.
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