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

Air Transport Services Group (NASDAQ:ATSG) issued an update on its FY24 earnings guidance on Monday morning. 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 Stock Performance

NASDAQ:ATSG traded up $0.17 during mid-day trading on Monday, hitting $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 current ratio of 0.86, a quick ratio of 0.74 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $870.26 million, a price-to-earnings ratio of 17.44 and a beta of 0.85. The firm has a 50 day moving average of $12.83 and a two-hundred day moving average of $15.10.

Air Transport Services Group (NASDAQ:ATSG) last announced its quarterly earnings data on Monday, February 26th. The transportation company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.11). Air Transport Services Group had a net margin of 2.91% and a return on equity of 7.93%. The business had revenue of $517.04 million during the quarter, compared to analyst estimates of $521.04 million. On average, equities analysts forecast that Air Transport Services Group will post 0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

ATSG has been the topic of several research reports. StockNews.com downgraded shares of Air Transport Services Group from a hold rating to a sell rating in a research note on Tuesday, March 26th. Truist Financial reduced their target price on 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. Finally, Susquehanna dropped their target price 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Air Transport Services Group currently has a consensus rating of Hold and an average target price of $23.33.

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.