Analysts Expect LATAM Airlines Group SA (NYSE:LTM) Will Announce Earnings of $0.14 Per Share

Wall Street analysts expect that LATAM Airlines Group SA (NYSE:LTM) will announce earnings per share of $0.14 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for LATAM Airlines Group’s earnings, with the highest EPS estimate coming in at $0.22 and the lowest estimate coming in at $0.09. LATAM Airlines Group reported earnings of $0.09 per share during the same quarter last year, which indicates a positive year over year growth rate of 55.6%. The firm is expected to issue its next quarterly earnings results on Wednesday, November 20th.

On average, analysts expect that LATAM Airlines Group will report full year earnings of $0.21 per share for the current fiscal year, with EPS estimates ranging from $0.08 to $0.29. For the next financial year, analysts forecast that the business will report earnings of $0.52 per share, with EPS estimates ranging from $0.38 to $0.62. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for LATAM Airlines Group.

LATAM Airlines Group (NYSE:LTM) last issued its quarterly earnings data on Tuesday, August 13th. The transportation company reported ($0.10) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.03. LATAM Airlines Group had a return on equity of 2.29% and a net margin of 0.81%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.38 billion.

A number of equities research analysts have weighed in on LTM shares. Goldman Sachs Group cut LATAM Airlines Group from a “neutral” rating to a “sell” rating and boosted their price objective for the company from $9.20 to $9.30 in a research note on Tuesday, July 2nd. TheStreet cut LATAM Airlines Group from a “c-” rating to a “d” rating in a research note on Tuesday, June 11th. Barclays initiated coverage on LATAM Airlines Group in a research note on Monday, July 29th. They set an “equal weight” rating and a $11.00 price target for the company. ValuEngine cut LATAM Airlines Group from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Finally, Zacks Investment Research upgraded LATAM Airlines Group from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. LATAM Airlines Group presently has a consensus rating of “Hold” and a consensus price target of $10.46.

Institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its stake in shares of LATAM Airlines Group by 20.8% during the second quarter. US Bancorp DE now owns 11,676 shares of the transportation company’s stock worth $109,000 after purchasing an additional 2,013 shares during the last quarter. Bank of America Corp DE raised its stake in shares of LATAM Airlines Group by 68.3% during the fourth quarter. Bank of America Corp DE now owns 12,160 shares of the transportation company’s stock worth $126,000 after purchasing an additional 4,934 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of LATAM Airlines Group during the second quarter worth approximately $169,000. Stone Ridge Asset Management LLC raised its stake in shares of LATAM Airlines Group by 18.8% during the second quarter. Stone Ridge Asset Management LLC now owns 22,439 shares of the transportation company’s stock worth $210,000 after purchasing an additional 3,548 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of LATAM Airlines Group by 15.2% during the second quarter. Panagora Asset Management Inc. now owns 22,914 shares of the transportation company’s stock worth $215,000 after purchasing an additional 3,016 shares during the last quarter. Institutional investors and hedge funds own 2.46% of the company’s stock.

NYSE LTM traded down $0.27 on Friday, reaching $8.92. The stock had a trading volume of 342,312 shares, compared to its average volume of 252,170. LATAM Airlines Group has a 12-month low of $7.62 and a 12-month high of $12.30. The business’s 50-day moving average price is $8.79 and its 200 day moving average price is $9.65. The stock has a market cap of $5.57 billion, a P/E ratio of 29.73 and a beta of 1.31.

About LATAM Airlines Group

LATAM Airlines Group SA, together with its subsidiaries, provides passenger and cargo air transportation services in Peru, Argentina, the United States, Europe, Colombia, Brazil, Ecuador, Chile, the Asia Pacific, and rest of Latin America. The company operates in two segments, Air Transportation; and Multiplus Coalition and Loyalty Program.

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