LATAM Airlines Group (NYSE:LTM) Announces Quarterly Earnings Results, Beats Estimates By $0.44 EPS

LATAM Airlines Group (NYSE:LTM) announced its quarterly earnings results on Tuesday. The transportation company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.14 by $0.44, Zacks reports. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.06 billion. LATAM Airlines Group had a net margin of 11.03% and a return on equity of 127.75%.

LATAM Airlines Group Stock Performance

LATAM Airlines Group stock opened at $55.69 on Wednesday. The company has a market capitalization of $15.99 billion, a PE ratio of 9.59, a P/E/G ratio of 1.09 and a beta of 3.62. The company has a 50 day moving average price of $53.71 and a 200-day moving average price of $53.92. LATAM Airlines Group has a fifty-two week low of $41.41 and a fifty-two week high of $70.42.

Institutional Investors Weigh In On LATAM Airlines Group

Hedge funds have recently made changes to their positions in the company. Invesco Ltd. lifted its stake in LATAM Airlines Group by 26.6% in the fourth quarter. Invesco Ltd. now owns 12,058 shares of the transportation company’s stock worth $651,000 after acquiring an additional 2,533 shares during the period. Vident Advisory LLC lifted its position in shares of LATAM Airlines Group by 40.4% in the 4th quarter. Vident Advisory LLC now owns 21,391 shares of the transportation company’s stock worth $1,155,000 after purchasing an additional 6,155 shares during the period. Mackenzie Financial Corp bought a new position in shares of LATAM Airlines Group during the fourth quarter valued at approximately $21,009,000. Wellington Management Group LLP purchased a new position in LATAM Airlines Group during the fourth quarter valued at approximately $844,000. Finally, Millennium Management LLC increased its holdings in LATAM Airlines Group by 71.3% during the fourth quarter. Millennium Management LLC now owns 417,599 shares of the transportation company’s stock valued at $22,555,000 after buying an additional 173,761 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a report on Friday, July 17th. Zacks Research raised shares of LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Jefferies Financial Group began coverage on shares of LATAM Airlines Group in a research note on Thursday, June 18th. They set a “buy” rating and a $70.00 price target on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $72.60 price objective on shares of LATAM Airlines Group in a research note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. initiated coverage on LATAM Airlines Group in a research note on Wednesday, June 3rd. They set an “overweight” rating and a $70.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, LATAM Airlines Group has an average rating of “Buy” and an average target price of $66.27.

LATAM Airlines Group Company Profile

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.