Grupo Aeromexico (NYSE:AERO) Announces Quarterly Earnings Results

Grupo Aeromexico (NYSE:AERO) issued its quarterly earnings results on Monday. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.03), Zacks reports. Grupo Aeromexico had a net margin of 6.17% and a negative return on equity of 41.04%.

Grupo Aeromexico Stock Performance

Shares of NYSE:AERO traded down $1.36 on Monday, hitting $15.37. 270,893 shares of the company were exchanged, compared to its average volume of 385,134. The company’s 50 day moving average price is $16.63 and its two-hundred day moving average price is $17.42. Grupo Aeromexico has a one year low of $12.26 and a one year high of $23.05. The firm has a market capitalization of $2.10 billion and a price-to-earnings ratio of 18.75.

Analysts Set New Price Targets

AERO has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Grupo Aeromexico from $28.00 to $26.50 and set an “overweight” rating on the stock in a report on Friday, June 12th. The Goldman Sachs Group upgraded Grupo Aeromexico to a “strong-buy” rating in a research report on Monday, April 13th. Weiss Ratings upgraded Grupo Aeromexico from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 1st. Jefferies Financial Group started coverage on Grupo Aeromexico in a report on Thursday, June 18th. They set a “hold” rating and a $20.00 target price for the company. Finally, Zacks Research upgraded shares of Grupo Aeromexico from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.06.

Insider Activity at Grupo Aeromexico

In other Grupo Aeromexico news, insider Aaron James Murray sold 600,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $1.51, for a total transaction of $906,000.00. Following the completion of the transaction, the insider owned 1,968,130 shares in the company, valued at $2,971,876.30. This trade represents a 23.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 12.82% of the company’s stock.

Institutional Trading of Grupo Aeromexico

Several hedge funds have recently modified their holdings of AERO. Norges Bank bought a new position in Grupo Aeromexico in the 4th quarter worth approximately $8,784,000. Goldman Sachs Group Inc. bought a new position in Grupo Aeromexico during the fourth quarter worth about $3,968,000. Nuveen LLC bought a new position in Grupo Aeromexico during the 4th quarter worth approximately $22,019,000. Federated Hermes Inc. acquired a new position in shares of Grupo Aeromexico in the 4th quarter valued at $220,000. Finally, HRT Financial LP bought a new stake in shares of Grupo Aeromexico in the fourth quarter worth about $295,000.

Grupo Aeromexico Company Profile

Grupo Aeroméxico is the parent company of Aeroméxico, Mexico’s long-established flag carrier and commercial airline group. The company operates scheduled passenger and cargo services, with a network that connects domestic destinations across Mexico and international markets in the Americas, Europe and Asia. Grupo Aeroméxico’s operations include mainline services as well as regional flying through its regional affiliates, airport ground-handling and cargo divisions that support its commercial network.

The carrier deploys a mix of narrow-body and wide-body aircraft to serve short-, medium- and long-haul routes, using single-aisle jets for domestic and regional markets and wide-body equipment for transcontinental services.