United Continental (UAL) Board of Directors Approves Share Buyback Program
United Continental (NYSE:UAL) declared that its board has initiated a stock repurchase plan, which permits the company to repurchase $3.00 billion in outstanding shares on Thursday, December 7th, EventVestor reports. This repurchase authorization permits the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
United Continental (NYSE:UAL) opened at $63.55 on Friday. United Continental has a one year low of $56.51 and a one year high of $83.04. The company has a quick ratio of 0.53, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $18,820.00, a PE ratio of 8.70, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04.
United Continental (NYSE:UAL) last released its earnings results on Wednesday, October 18th. The transportation company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.10. United Continental had a return on equity of 25.26% and a net margin of 5.22%. The firm had revenue of $9.88 billion for the quarter, compared to analyst estimates of $9.87 billion. During the same quarter in the prior year, the firm posted $3.11 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. equities research analysts expect that United Continental will post 6.31 EPS for the current fiscal year.
UAL has been the topic of several recent research reports. Morgan Stanley decreased their price target on United Continental from $79.00 to $72.00 and set an “equal weight” rating on the stock in a report on Thursday, August 17th. Zacks Investment Research cut United Continental from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Wolfe Research upgraded United Continental to an “outperform” rating and decreased their price target for the company from $97.00 to $95.00 in a report on Sunday, August 20th. Stephens reiterated an “equal weight” rating and issued a $65.00 price target (down previously from $80.00) on shares of United Continental in a report on Thursday, September 7th. Finally, Citigroup reiterated a “neutral” rating and issued a $68.00 price target (down previously from $85.00) on shares of United Continental in a report on Thursday, September 7th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. United Continental presently has an average rating of “Hold” and an average target price of $77.63.
In other United Continental news, Director Robert A. Milton purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were bought at an average price of $58.60 per share, with a total value of $58,600.00. Following the completion of the transaction, the director now directly owns 6,176 shares in the company, valued at approximately $361,913.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward Shapiro purchased 15,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were acquired at an average cost of $59.87 per share, for a total transaction of $898,050.00. Following the transaction, the director now owns 27,707 shares of the company’s stock, valued at $1,658,818.09. The disclosure for this purchase can be found here. Corporate insiders own 0.27% of the company’s stock.
United Continental Company Profile
United Continental Holdings, Inc (UAL) is a holding company and its principal subsidiary is United Air Lines, Inc (United). The Company transports people and cargo through its mainline operations. It has global air rights in North America, Asia-Pacific, Europe, Middle East, Africa and Latin America. The Company, through United and its regional carriers, operates flights from its hubs at Newark Liberty International Airport (Newark Liberty), Chicago O’Hare International Airport (Chicago O’Hare), Denver International Airport (Denver), George Bush Intercontinental Airport (Houston Bush), Los Angeles International Airport (LAX), A.B.
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