LATAM Airlines Group (NYSE:LTM) Releases Earnings Results, Beats Expectations By $0.66 EPS

LATAM Airlines Group (NYSE:LTM) posted its quarterly earnings results on Tuesday. The transportation company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.66, FiscalAI reports. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $3.93 billion. LATAM Airlines Group had a return on equity of 136.61% and a net margin of 10.07%.

LATAM Airlines Group Trading Up 2.3%

Shares of LTM stock traded up $1.03 on Tuesday, hitting $46.29. 992,383 shares of the stock were exchanged, compared to its average volume of 971,595. The firm’s 50 day moving average is $50.78 and its two-hundred day moving average is $52.46. LATAM Airlines Group has a one year low of $32.03 and a one year high of $70.42. The firm has a market capitalization of $13.29 billion, a PE ratio of 9.29, a P/E/G ratio of 1.26 and a beta of 3.62.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC bought a new stake in shares of LATAM Airlines Group during the 2nd quarter valued at about $90,000. Royal Bank of Canada boosted its position in shares of LATAM Airlines Group by 340.2% during the 4th quarter. Royal Bank of Canada now owns 2,672 shares of the transportation company’s stock valued at $144,000 after acquiring an additional 2,065 shares during the last quarter. Rhumbline Advisers boosted its position in shares of LATAM Airlines Group by 113.8% during the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock valued at $100,000 after acquiring an additional 1,700 shares during the last quarter. Bridgefront Capital LLC bought a new stake in shares of LATAM Airlines Group during the 4th quarter valued at about $273,000. Finally, Jane Street Group LLC bought a new stake in shares of LATAM Airlines Group during the 2nd quarter valued at about $237,000.

Analysts Set New Price Targets

LTM has been the topic of a number of recent analyst reports. Morgan Stanley upgraded LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $61.00 to $60.00 in a research report on Thursday, March 26th. Wall Street Zen cut LATAM Airlines Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Tuesday, April 21st. The Goldman Sachs Group upgraded shares of LATAM Airlines Group from a “neutral” rating to a “buy” rating and set a $63.40 target price on the stock in a research report on Monday, April 13th. Finally, Barclays reduced their target price on LATAM Airlines Group from $75.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, March 24th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, LATAM Airlines Group currently has an average rating of “Moderate Buy” and an average target price of $62.10.

LATAM Airlines Group Company Profile

LATAM Airlines Group SA is a Chilean-based airline holding company formed in 2012 through the merger of LAN Airlines of Chile and TAM Linhas Aéreas of Brazil. The Group offers passenger and cargo air transportation services across South America and beyond, operating under a multi‐brand strategy that encompasses several nationally recognized carriers. Headquartered in Santiago, Chile, LATAM is structured to serve diverse market segments with full-service, premium and low‐cost offerings.

The core business activities of LATAM Airlines Group include scheduled domestic and international passenger flights, air cargo services and maintenance, repair and overhaul (MRO) capabilities through its technical divisions.