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

Air Transport Services Group (NASDAQ:ATSG) released 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. The company had revenue of $485.50 million for the quarter, compared to analyst estimates of $479.77 million. Air Transport Services Group had a return on equity of 7.93% and a net margin of 2.91%. Air Transport Services Group’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. 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 Down 0.8 %

Shares of NASDAQ ATSG opened at $14.59 on Thursday. 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. The firm has a market cap of $958.33 million, a PE ratio of 23.16 and a beta of 0.85. The company has a 50 day simple moving average of $12.91 and a 200 day simple moving average of $15.01.

Wall Street Analyst Weigh In

ATSG has been the topic of several recent analyst reports. Truist Financial decreased their target price on shares of Air Transport Services Group from $20.00 to $14.00 and set a “hold” rating on the stock in a report on Friday, April 19th. Susquehanna lifted their price target on Air Transport Services Group from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday. StockNews.com upgraded Air Transport Services Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, TD Cowen boosted their target price on Air Transport Services Group from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.83.

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.