Air Transport Services Group (NASDAQ:ATSG) Issues FY24 Earnings Guidance

Air Transport Services Group (NASDAQ:ATSG) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $0.55-0.80 for the period, compared to the consensus earnings per share estimate of $0.70. Air Transport Services Group also updated its FY 2024 guidance to 0.550-0.800 EPS.

Air Transport Services Group Trading Up 11.0 %

ATSG stock traded up $1.46 during trading on Tuesday, reaching $14.71. 1,312,754 shares of the stock were exchanged, compared to its average volume of 619,153. 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 firm has a market capitalization of $966.15 million, a price-to-earnings ratio of 19.68 and a beta of 0.85. The business has a 50 day moving average price of $12.82 and a 200-day moving average price of $15.05. Air Transport Services Group has a 1 year low of $11.62 and a 1 year high of $24.96.

Air Transport Services Group (NASDAQ:ATSG) last announced its quarterly earnings results on Monday, May 6th. The transportation company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. Air Transport Services Group had a net margin of 2.91% and a return on equity of 7.93%. The business had revenue of $485.50 million during the quarter, compared to the consensus estimate of $479.77 million. During the same quarter last year, the firm earned $0.36 EPS. The business’s revenue was down 3.1% compared to the same quarter last year. On average, research analysts predict that Air Transport Services Group will post 0.73 earnings per share for the current year.

Analysts Set New Price Targets

ATSG has been the subject of a number of research analyst reports. StockNews.com cut Air Transport Services Group from a hold rating to a sell rating in a report on Tuesday, March 26th. Truist Financial dropped their price target on shares of Air Transport Services Group from $20.00 to $14.00 and set a hold rating for the company in a research report on Friday, April 19th. Finally, Susquehanna lowered 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 research report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $23.33.

Air Transport Services Group Company Profile

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.