International Consolidated Airlines Group (OTCMKTS:ICAGY) Shares Gap Up on Strong Earnings

Shares of International Consolidated Airlines Group SA (OTCMKTS:ICAGY) gapped up prior to trading on Monday following a stronger than expected earnings report. The stock had previously closed at $10.53, but opened at $11.21. International Consolidated Airlines Group shares last traded at $11.23, with a volume of 34,318 shares changing hands.

The transportation company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.15. International Consolidated Airlines Group had a net margin of 10.38% and a return on equity of 75.60%. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.41 billion.

Analysts Set New Price Targets

Several brokerages have weighed in on ICAGY. Zacks Research downgraded International Consolidated Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. Barclays upgraded International Consolidated Airlines Group from an “equal weight” rating to an “overweight” rating in a report on Monday, March 9th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

International Consolidated Airlines Group Price Performance

The company’s 50 day moving average price is $10.16 and its 200-day moving average price is $10.69. The company has a market capitalization of $25.28 billion, a PE ratio of 2.62, a PEG ratio of 0.65 and a beta of 1.60. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.48.

About International Consolidated Airlines Group

International Consolidated Airlines Group (OTCMKTS:ICAGY) is a Europe-focused airline holding company formed in 2011 through the combination of British Airways and Iberia. The group owns and operates a portfolio of passenger carriers that provide short-haul, long-haul and low-cost services, together with associated aviation businesses. Its operations span international and domestic markets, with extensive networks across Europe, transatlantic routes and links to Latin America and other global destinations.

IAG’s principal airline brands include British Airways, Iberia, Aer Lingus, Vueling and LEVEL.