Air Transport Services Group (NASDAQ:ATSG) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

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

NASDAQ ATSG opened at $13.25 on Tuesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.74 and a current ratio of 0.86. The firm has a market cap of $870.26 million, a price-to-earnings ratio of 17.67 and a beta of 0.85. The firm has a 50 day simple moving average of $12.82 and a 200-day simple moving average of $15.05. Air Transport Services Group has a one year low of $11.62 and a one year high of $24.96.

Analyst Ratings Changes

Several analysts recently issued reports on ATSG shares. StockNews.com lowered shares of Air Transport Services Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. Truist Financial reduced their price target on shares of Air Transport Services Group from $20.00 to $14.00 and set a “hold” rating on the stock in a research note 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 research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Air Transport Services Group presently 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.