Air Transport Services Group (NASDAQ:ATSG) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Air Transport Services Group (NASDAQ:ATSG) announced its quarterly earnings data on Monday. The transportation company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03, Briefing.com reports. The firm had revenue of $485.50 million during the quarter, compared to the consensus estimate of $479.77 million. Air Transport Services Group had a return on equity of 7.93% and a net margin of 2.91%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 EPS. Air Transport Services Group updated its FY24 guidance to $0.55-0.80 EPS and its FY 2024 guidance to 0.550-0.800 EPS.

Air Transport Services Group Trading Up 1.4 %

Shares of NASDAQ:ATSG opened at $13.43 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.74 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $882.08 million, a PE ratio of 17.67 and a beta of 0.85. Air Transport Services Group has a 1 year low of $11.62 and a 1 year high of $24.96. The firm has a fifty day moving average price of $12.82 and a 200 day moving average price of $15.05.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Susquehanna lowered their price objective on shares of Air Transport Services Group from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. StockNews.com cut shares of Air Transport Services Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. Finally, Truist Financial cut their price objective on Air Transport Services Group from $20.00 to $14.00 and set a “hold” rating for the company in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $23.33.

Air Transport Services Group Company Profile

Air Transport Services Group, Inc, together with its subsidiaries, provides aircraft leasing, and air cargo transportation and related services in the United States and internationally. It operates in two segments, Cargo Aircraft Management Inc (CAM) and ACMI Services. The company offers aircraft, flight crews, aircraft hull and liability insurance, and aviation fuel services; and aircraft maintenance and modification services, including airframe modification and heavy maintenance, component repairs, engineering services, and aircraft line maintenance.