LATAM Airlines Group (NYSE:LTM) Posts Quarterly Earnings Results, Beats Expectations By $0.33 EPS

LATAM Airlines Group (NYSE:LTM) issued its quarterly earnings data on Tuesday. The transportation company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.33, FiscalAI reports. LATAM Airlines Group had a net margin of 8.99% and a return on equity of 136.76%. The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.81 billion.

LATAM Airlines Group Stock Performance

NYSE LTM traded down $0.59 on Tuesday, hitting $67.87. 1,650,808 shares of the stock were exchanged, compared to its average volume of 1,128,614. The stock has a fifty day moving average price of $55.76 and a two-hundred day moving average price of $48.92. The firm has a market capitalization of $20.51 billion, a P/E ratio of 16.20, a P/E/G ratio of 0.46 and a beta of 3.88. LATAM Airlines Group has a 52-week low of $26.36 and a 52-week high of $70.42.

Analysts Set New Price Targets

LTM has been the subject of a number of analyst reports. Barclays set a $60.00 price objective on shares of LATAM Airlines Group and gave the stock an “overweight” rating in a research note on Wednesday, November 19th. Wall Street Zen upgraded LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. Zacks Research upgraded LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 9th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $58.50 price objective on shares of LATAM Airlines Group in a research note on Friday, December 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $59.25.

Hedge Funds Weigh In On LATAM Airlines Group

A number of large investors have recently made changes to their positions in LTM. Rhumbline Advisers raised its holdings in shares of LATAM Airlines Group by 37.6% in the third quarter. Rhumbline Advisers now owns 4,394 shares of the transportation company’s stock valued at $199,000 after acquiring an additional 1,200 shares in the last quarter. Engineers Gate Manager LP increased its position in LATAM Airlines Group by 12.6% during the 2nd quarter. Engineers Gate Manager LP now owns 18,668 shares of the transportation company’s stock valued at $759,000 after purchasing an additional 2,082 shares during the period. Tower Research Capital LLC TRC bought a new stake in shares of LATAM Airlines Group in the 2nd quarter valued at about $90,000. Lazard Asset Management LLC raised its holdings in shares of LATAM Airlines Group by 21.4% in the 3rd quarter. Lazard Asset Management LLC now owns 14,971 shares of the transportation company’s stock valued at $677,000 after purchasing an additional 2,644 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of LATAM Airlines Group by 7.1% in the 3rd quarter. First Trust Advisors LP now owns 73,998 shares of the transportation company’s stock worth $3,348,000 after purchasing an additional 4,890 shares during the period.

About LATAM Airlines Group

LATAM Airlines Group SA is a Chilean-based airline holding company formed in 2012 through the merger of LAN Airlines of Chile and TAM Linhas Aéreas of Brazil. The Group offers passenger and cargo air transportation services across South America and beyond, operating under a multi‐brand strategy that encompasses several nationally recognized carriers. Headquartered in Santiago, Chile, LATAM is structured to serve diverse market segments with full-service, premium and low‐cost offerings.

The core business activities of LATAM Airlines Group include scheduled domestic and international passenger flights, air cargo services and maintenance, repair and overhaul (MRO) capabilities through its technical divisions.