Wall Street brokerages forecast that LATAM Airlines Group SA (NYSE:LTM) will report sales of $2.70 billion for the current quarter, according to Zacks. Two analysts have provided estimates for LATAM Airlines Group’s earnings, with estimates ranging from $2.69 billion to $2.72 billion. LATAM Airlines Group reported sales of $2.36 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 14.4%. The firm is expected to report its next quarterly earnings results on Monday, May 21st.
According to Zacks, analysts expect that LATAM Airlines Group will report full-year sales of $2.70 billion for the current year, with estimates ranging from $11.08 billion to $11.12 billion. For the next financial year, analysts anticipate that the company will post sales of $11.85 billion per share, with estimates ranging from $11.77 billion to $11.93 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for LATAM Airlines Group.
Several research analysts have weighed in on the company. Citigroup lowered LATAM Airlines Group from a “neutral” rating to a “sell” rating in a research report on Wednesday, February 7th. ValuEngine raised LATAM Airlines Group from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. JPMorgan Chase lowered LATAM Airlines Group from a “neutral” rating to an “underweight” rating and set a $17.00 price target on the stock. in a research report on Monday, March 19th. Finally, Zacks Investment Research lowered LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $16.50.
Large investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. acquired a new position in shares of LATAM Airlines Group during the 4th quarter worth approximately $165,000. First Trust Advisors LP acquired a new position in shares of LATAM Airlines Group during the 4th quarter worth approximately $169,000. Advisor Group Inc. acquired a new position in shares of LATAM Airlines Group during the 4th quarter worth approximately $195,000. Saturna Capital CORP acquired a new position in shares of LATAM Airlines Group during the 4th quarter worth approximately $236,000. Finally, Atria Investments LLC acquired a new position in shares of LATAM Airlines Group during the 4th quarter worth approximately $243,000. 3.05% of the stock is currently owned by hedge funds and other institutional investors.
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About LATAM Airlines Group
LATAM Airlines Group SA is a Chile-based company, which is engaged in passenger and cargo air transportation, both in the domestic markets of Chile, Peru, Argentina, Colombia, Ecuador and Brazil and in a developed series of regional and international routes in America, Europe and Oceania. These businesses are performed directly or through its subsidiaries in different countries.
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