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

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Bank of America lifted their target price on shares of United Airlines from $60.00 to $70.00 and gave the stock a buy rating in a research note on Thursday. Raymond James boosted their price target on shares of United Airlines from $66.00 to $70.00 and gave the company an outperform rating in a research note on Thursday. Morgan Stanley boosted their price target on shares of United Airlines from $75.00 to $80.00 and gave the company an overweight rating in a research note on Thursday. Evercore ISI raised shares of United Airlines from an in-line rating to an outperform rating and boosted their price target for the company from $58.00 to $65.00 in a research note on Friday, February 9th. Finally, Susquehanna boosted their price target on shares of United Airlines from $55.00 to $60.00 and gave the company a positive rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $66.53.

United Airlines Price Performance

Shares of UAL opened at $51.42 on Friday. United Airlines has a fifty-two week low of $33.68 and a fifty-two week high of $58.23. The firm’s 50 day moving average price is $44.29 and its 200 day moving average price is $41.42. The company has a market cap of $16.91 billion, a P/E ratio of 6.36, a PEG ratio of 0.70 and a beta of 1.55. The company has a quick ratio of 0.76, a current ratio of 0.75 and a debt-to-equity ratio of 2.52.

United Airlines (NASDAQ:UAL) last announced its earnings results on Tuesday, January 23rd. The transportation company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.39. United Airlines had a net margin of 4.90% and a return on equity of 39.85%. The firm had revenue of $13.63 billion for the quarter, compared to the consensus estimate of $13.55 billion. During the same period in the prior year, the firm earned $2.46 EPS. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, research analysts forecast that United Airlines will post 9.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Clear Street Markets LLC grew its holdings in United Airlines by 101.8% during the 1st quarter. Clear Street Markets LLC now owns 642 shares of the transportation company’s stock worth $28,000 after acquiring an additional 36,811 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new position in United Airlines during the 4th quarter worth approximately $45,000. Groupama Asset Managment acquired a new position in United Airlines during the 4th quarter worth approximately $47,000. LM Advisors LLC acquired a new position in United Airlines during the 4th quarter worth approximately $50,000. Finally, Ancora Advisors LLC grew its holdings in United Airlines by 544.8% during the 4th quarter. Ancora Advisors LLC now owns 1,670 shares of the transportation company’s stock worth $63,000 after acquiring an additional 1,411 shares in the last quarter. Institutional investors and hedge funds 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.