Air Transport Services Group (NASDAQ:ATSG) Releases FY24 Earnings Guidance

Air Transport Services Group (NASDAQ:ATSG) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $0.55-0.80 for the period, compared to the consensus EPS estimate of $0.70.

Air Transport Services Group Stock Up 1.3 %

NASDAQ ATSG traded up $0.17 during trading on Monday, reaching $13.25. 795,322 shares of the company’s stock traded hands, compared to its average volume of 611,138. Air Transport Services Group has a 12-month low of $11.62 and a 12-month 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 $870.26 million, a price-to-earnings ratio of 17.44 and a beta of 0.85. The company’s 50 day simple moving average is $12.83 and its two-hundred day simple moving average is $15.10.

Air Transport Services Group (NASDAQ:ATSG) last released its quarterly earnings results on Monday, February 26th. The transportation company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.11). The company had revenue of $517.04 million during the quarter, compared to the consensus estimate of $521.04 million. Air Transport Services Group had a return on equity of 7.93% and a net margin of 2.91%. As a group, sell-side analysts forecast that Air Transport Services Group will post 0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ATSG shares. StockNews.com cut Air Transport Services Group from a hold rating to a sell rating in a research note on Tuesday, March 26th. Susquehanna dropped their target price on shares of Air Transport Services Group from $15.00 to $14.00 and set a neutral rating on the stock in a research report on Wednesday, February 28th. Finally, Truist Financial lowered their price objective on shares of Air Transport Services Group from $20.00 to $14.00 and set a hold rating for the company in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price 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.