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 earnings per share (EPS) guidance of $0.55-0.80 for the period, compared to the consensus estimate of $0.70. Air Transport Services Group also updated its FY 2024 guidance to 0.550-0.800 EPS.

Air Transport Services Group Stock Performance

Air Transport Services Group stock traded down $0.12 during trading on Wednesday, hitting $14.59. The stock had a trading volume of 550,500 shares, compared to its average volume of 618,381. The company has a quick ratio of 0.74, a current ratio of 0.86 and a debt-to-equity ratio of 1.25. The stock’s 50 day moving average is $12.91 and its two-hundred day moving average is $15.01. Air Transport Services Group has a 1 year low of $11.62 and a 1 year high of $24.96. The stock has a market cap of $958.27 million, a price-to-earnings ratio of 19.45 and a beta of 0.85.

Air Transport Services Group (NASDAQ:ATSG) last released its quarterly earnings data on Monday, May 6th. The transportation company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.13 by $0.03. The business had revenue of $485.50 million for the quarter, compared to the consensus estimate of $479.77 million. Air Transport Services Group had a net margin of 2.91% and a return on equity of 7.93%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. As a group, analysts predict that Air Transport Services Group will post 0.73 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ATSG shares. StockNews.com upgraded Air Transport Services Group from a sell rating to a hold rating in a research report on Tuesday. Truist Financial dropped their price target on Air Transport Services Group from $20.00 to $14.00 and set a hold rating for the company in a research report on Friday, April 19th. Susquehanna raised their target price on shares of Air Transport Services Group from $14.00 to $15.00 and gave the company a neutral rating in a research note on Wednesday. Finally, TD Cowen boosted their price target on shares of Air Transport Services Group from $16.00 to $18.00 and gave the stock a buy rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Air Transport Services Group currently has an average 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.