LATAM Airlines Group (NYSE:LTM) Posts Quarterly Earnings Results, Beats Expectations By $0.86 EPS

LATAM Airlines Group (NYSE:LTM) announced its quarterly earnings results on Tuesday. The transportation company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.15 by $0.86, FiscalAI reports. The business had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $3.96 billion. LATAM Airlines Group had a return on equity of 136.61% and a net margin of 10.07%.

LATAM Airlines Group Stock Up 0.2%

NYSE:LTM traded up $0.10 during trading hours on Thursday, reaching $51.95. The company had a trading volume of 722,777 shares, compared to its average volume of 1,327,726. The stock has a 50-day moving average of $50.68 and a two-hundred day moving average of $52.52. LATAM Airlines Group has a one year low of $32.83 and a one year high of $70.42. The firm has a market capitalization of $14.92 billion, a PE ratio of 10.42, a PEG ratio of 1.29 and a beta of 3.62.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LTM shares. The Goldman Sachs Group raised LATAM Airlines Group from a “neutral” rating to a “buy” rating and set a $63.40 target price for the company in a research report on Monday, April 13th. Barclays decreased their target price on LATAM Airlines Group from $75.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, March 24th. Zacks Research cut LATAM Airlines Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Wall Street Zen lowered LATAM Airlines Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Morgan Stanley upgraded LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $61.00 to $60.00 in a report on Thursday, March 26th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.10.

Institutional Trading of LATAM Airlines Group

A number of large investors have recently bought and sold shares of the stock. Invesco Ltd. grew its position in LATAM Airlines Group by 26.6% in the fourth quarter. Invesco Ltd. now owns 12,058 shares of the transportation company’s stock valued at $651,000 after acquiring an additional 2,533 shares during the period. Vident Advisory LLC grew its position in LATAM Airlines Group by 40.4% in the fourth quarter. Vident Advisory LLC now owns 21,391 shares of the transportation company’s stock valued at $1,155,000 after acquiring an additional 6,155 shares during the period. Mackenzie Financial Corp bought a new stake in LATAM Airlines Group in the fourth quarter valued at $21,009,000. Wellington Management Group LLP bought a new stake in shares of LATAM Airlines Group during the fourth quarter worth $844,000. Finally, Millennium Management LLC lifted its stake in LATAM Airlines Group by 71.3% in the fourth quarter. Millennium Management LLC now owns 417,599 shares of the transportation company’s stock valued at $22,555,000 after buying an additional 173,761 shares during the period.

About LATAM Airlines Group

LATAM Airlines Group SA is a Chilean-based airline holding company formed in 2012 through the merger of LAN Airlines of Chile and TAM Linhas Aéreas of Brazil. The Group offers passenger and cargo air transportation services across South America and beyond, operating under a multi‐brand strategy that encompasses several nationally recognized carriers. Headquartered in Santiago, Chile, LATAM is structured to serve diverse market segments with full-service, premium and low‐cost offerings.

The core business activities of LATAM Airlines Group include scheduled domestic and international passenger flights, air cargo services and maintenance, repair and overhaul (MRO) capabilities through its technical divisions.