Air Transport Services Group (NASDAQ:ATSG) Announces Quarterly Earnings Results

Air Transport Services Group (NASDAQ:ATSG) posted its earnings results on Monday. The transportation company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03, Briefing.com reports. Air Transport Services Group had a return on equity of 7.93% and a net margin of 2.91%. The firm had revenue of $485.50 million for the quarter, compared to the consensus estimate of $479.77 million. During the same quarter in the prior year, the business earned $0.36 EPS. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. 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 Down 0.8 %

ATSG stock opened at $14.59 on Thursday. The firm’s fifty day simple moving average is $12.91 and its two-hundred day simple moving average is $15.01. The stock has a market capitalization of $958.33 million, a price-to-earnings ratio of 23.16 and a beta of 0.85. The company has a quick ratio of 0.74, a current ratio of 0.86 and a debt-to-equity ratio of 1.25. Air Transport Services Group has a twelve month low of $11.62 and a twelve month high of $24.96.

Analyst Ratings Changes

A number of research firms have recently commented on ATSG. StockNews.com raised Air Transport Services Group from a “sell” rating to a “hold” rating in a research note on Tuesday. TD Cowen lifted their target price on shares of Air Transport Services Group from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday. Susquehanna raised their price target on shares of Air Transport Services Group from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Truist Financial dropped their price objective on Air Transport Services Group from $20.00 to $14.00 and set a “hold” rating on the stock in a research report on Friday, April 19th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.83.

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.