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

Air Transport Services Group (NASDAQ:ATSG) announced its quarterly earnings data on Monday. The transportation company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03, Briefing.com reports. Air Transport Services Group had a net margin of 2.91% and a return on equity of 7.93%. The company had revenue of $485.50 million for the quarter, compared to analysts’ expectations of $479.77 million. During the same period in the previous year, the company posted $0.36 EPS. Air Transport Services Group’s 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 Stock Performance

NASDAQ ATSG opened at $13.25 on Tuesday. The business has a 50 day moving average price of $12.82 and a 200 day moving average price of $15.05. The company has a market capitalization of $870.26 million, a P/E ratio of 17.67 and a beta of 0.85. Air Transport Services Group has a 1-year low of $11.62 and a 1-year high of $24.96. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.86 and a quick ratio of 0.74.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Susquehanna cut their price target on shares of Air Transport Services Group from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. StockNews.com cut Air Transport Services Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. Finally, Truist Financial decreased their price target on 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $23.33.

About Air Transport Services Group

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.