Air Transport Services Group (NASDAQ:ATSG) Releases Earnings Results, Beats Expectations By $0.03 EPS

Air Transport Services Group (NASDAQ:ATSG) issued its quarterly earnings data on Monday. The transportation company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03, Briefing.com reports. The company had revenue of $485.50 million during the quarter, compared to analyst estimates of $479.77 million. Air Transport Services Group had a return on equity of 7.93% and a net margin of 2.91%. Air Transport Services Group’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.36 earnings per share. 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 Stock Up 1.3 %

Shares of NASDAQ:ATSG opened at $13.25 on Tuesday. Air Transport Services Group has a 12-month low of $11.62 and a 12-month high of $24.96. The company has a current ratio of 0.86, a quick ratio of 0.74 and a debt-to-equity ratio of 1.25. The stock’s 50-day moving average price is $12.82 and its 200-day moving average price is $15.05. The stock has a market capitalization of $870.26 million, a P/E ratio of 17.67 and a beta of 0.85.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Susquehanna dropped their price objective on shares of Air Transport Services Group from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. StockNews.com lowered Air Transport Services Group from a “hold” rating to a “sell” rating in a research note on Tuesday, March 26th. Finally, Truist Financial reduced 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Air Transport Services Group has a consensus rating of “Hold” and an average target price of $23.33.

About Air Transport Services Group

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.