United Airlines (NASDAQ:UAL) Updates FY 2024 Earnings Guidance

United Airlines (NASDAQ:UAL) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 9.000-11.000 for the period, compared to the consensus estimate of 9.670. The company issued revenue guidance of -.

United Airlines Trading Up 5.5 %

NASDAQ:UAL opened at $51.42 on Friday. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.75 and a quick ratio of 0.76. The firm has a market capitalization of $16.91 billion, a price-to-earnings ratio of 6.36, a price-to-earnings-growth ratio of 0.70 and a beta of 1.55. United Airlines has a one year low of $33.68 and a one year high of $58.23. The business has a fifty day moving average price of $44.29 and a 200-day moving average price of $41.42.

United Airlines (NASDAQ:UAL) last issued its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.39. United Airlines had a return on equity of 39.85% and a net margin of 4.90%. The business had revenue of $13.63 billion during the quarter, compared to analyst estimates of $13.55 billion. During the same quarter in the prior year, the business posted $2.46 EPS. United Airlines’s revenue for the quarter was up 9.9% compared to the same quarter last year. Sell-side analysts forecast that United Airlines will post 9.3 EPS for the current year.

Analyst Ratings Changes

UAL has been the subject of several research reports. Bank of America increased their price objective on shares of United Airlines from $60.00 to $70.00 and gave the company a buy rating in a report on Thursday. Raymond James increased their price objective on shares of United Airlines from $66.00 to $70.00 and gave the company an outperform rating in a report on Thursday. Morgan Stanley increased their price objective on shares of United Airlines from $75.00 to $80.00 and gave the company an overweight rating in a report on Thursday. Evercore ISI raised shares of United Airlines from an in-line rating to an outperform rating and increased their price objective for the company from $58.00 to $65.00 in a report on Friday, February 9th. Finally, UBS Group initiated coverage on shares of United Airlines in a report on Wednesday, March 20th. They set a neutral rating and a $47.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $66.53.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Wahed Invest LLC lifted its stake in shares of United Airlines by 191.3% during the 4th quarter. Wahed Invest LLC now owns 3,702 shares of the transportation company’s stock worth $153,000 after acquiring an additional 2,431 shares during the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of United Airlines during the fourth quarter worth $123,000. Icon Wealth Advisors LLC purchased a new stake in shares of United Airlines during the fourth quarter valued at $109,000. Fortis Capital Advisors LLC purchased a new position in United Airlines in the 1st quarter worth about $89,000. Finally, Covestor Ltd lifted its holdings in United Airlines by 255.7% during the 1st quarter. Covestor Ltd now owns 1,846 shares of the transportation company’s stock valued at $86,000 after buying an additional 1,327 shares in the last quarter. Institutional investors own 69.69% of the company’s stock.

About United Airlines

United Airlines Holdings, Inc, through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also offers catering, ground handling, flight academy, and maintenance services for third parties.