United Airlines (NASDAQ:UAL) Releases Q2 2024 Earnings Guidance

United Airlines (NASDAQ:UAL) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 3.750-4.250 for the period, compared to the consensus estimate of 3.710. The company issued revenue guidance of -.

United Airlines Price Performance

UAL stock opened at $48.74 on Thursday. The company has a debt-to-equity ratio of 2.70, a current ratio of 0.83 and a quick ratio of 0.76. United Airlines has a one year low of $33.68 and a one year high of $58.23. The stock has a market cap of $16.03 billion, a PE ratio of 6.02, a P/E/G ratio of 0.58 and a beta of 1.55. The firm has a 50 day simple moving average of $44.09 and a two-hundred day simple moving average of $41.35.

United Airlines (NASDAQ:UAL) last released its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.39. United Airlines had a net margin of 4.90% and a return on equity of 40.50%. The business had revenue of $13.63 billion during the quarter, compared to analysts’ expectations of $13.55 billion. During the same quarter in the previous year, the company earned $2.46 EPS. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, analysts predict that United Airlines will post 9.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on UAL. Susquehanna upped their price objective on shares of United Airlines from $55.00 to $60.00 and gave the company a positive rating in a research note on Thursday. StockNews.com raised shares of United Airlines from a sell rating to a hold rating in a research note on Thursday. UBS Group began coverage on shares of United Airlines in a research note on Wednesday, March 20th. They issued a neutral rating and a $47.00 price objective for the company. Morgan Stanley upped their price objective on shares of United Airlines from $75.00 to $80.00 and gave the company an overweight rating in a research note on Thursday. Finally, TD Cowen upped their price objective on shares of United Airlines from $55.00 to $65.00 and gave the company an outperform rating in a research note on Wednesday, January 24th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $66.20.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in UAL. PNC Financial Services Group Inc. raised its holdings in United Airlines by 7.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 22,619 shares of the transportation company’s stock worth $1,048,000 after purchasing an additional 1,663 shares in the last quarter. Panagora Asset Management Inc. bought a new position in United Airlines in the 1st quarter worth $482,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in United Airlines by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 43,326 shares of the transportation company’s stock worth $2,009,000 after purchasing an additional 2,683 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in United Airlines by 2.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 72,334 shares of the transportation company’s stock worth $3,503,000 after purchasing an additional 1,438 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in United Airlines by 81.9% in the 1st quarter. Vontobel Holding Ltd. now owns 14,960 shares of the transportation company’s stock worth $694,000 after purchasing an additional 6,737 shares in the last quarter. 69.69% of the stock is currently owned by institutional investors.

About United Airlines

United Airlines Holdings, Inc, through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also offers catering, ground handling, flight academy, and maintenance services for third parties.