Grupo Aeromexico (NYSE:AERO) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Grupo Aeromexico (NYSE:AERO) issued its quarterly earnings data on Monday. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.03), Zacks reports. The business had revenue of $1.48 billion during the quarter. Grupo Aeromexico had a negative return on equity of 41.04% and a net margin of 6.17%.

Grupo Aeromexico Stock Down 8.1%

Grupo Aeromexico stock opened at $15.37 on Tuesday. The stock has a 50-day moving average price of $16.64 and a 200 day moving average price of $17.38. The company has a market capitalization of $2.10 billion and a price-to-earnings ratio of 18.75. Grupo Aeromexico has a 52 week low of $12.26 and a 52 week high of $23.05.

Insiders Place Their Bets

In other Grupo Aeromexico news, insider Aaron James Murray sold 600,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $1.51, for a total transaction of $906,000.00. Following the completion of the transaction, the insider directly owned 1,968,130 shares of the company’s stock, valued at approximately $2,971,876.30. This trade represents a 23.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Trading of Grupo Aeromexico

A number of hedge funds and other institutional investors have recently made changes to their positions in AERO. Sandia Investment Management LP acquired a new position in Grupo Aeromexico during the fourth quarter valued at $220,000. Federated Hermes Inc. acquired a new stake in Grupo Aeromexico during the 4th quarter worth about $220,000. Quarry LP acquired a new stake in Grupo Aeromexico during the 4th quarter worth about $232,000. VR Advisory Services Ltd purchased a new position in shares of Grupo Aeromexico during the 4th quarter valued at about $259,000. Finally, HRT Financial LP purchased a new position in shares of Grupo Aeromexico during the 4th quarter valued at about $295,000.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AERO. The Goldman Sachs Group upgraded Grupo Aeromexico to a “strong-buy” rating in a report on Monday, April 13th. Barclays reduced their target price on Grupo Aeromexico from $32.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 24th. Weiss Ratings upgraded Grupo Aeromexico from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 1st. Wall Street Zen downgraded Grupo Aeromexico from a “buy” rating to a “hold” rating in a report on Sunday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Grupo Aeromexico from $28.00 to $26.50 and set an “overweight” rating on the stock in a report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.06.

About Grupo Aeromexico

Grupo Aeroméxico is the parent company of Aeroméxico, Mexico’s long-established flag carrier and commercial airline group. The company operates scheduled passenger and cargo services, with a network that connects domestic destinations across Mexico and international markets in the Americas, Europe and Asia. Grupo Aeroméxico’s operations include mainline services as well as regional flying through its regional affiliates, airport ground-handling and cargo divisions that support its commercial network.

The carrier deploys a mix of narrow-body and wide-body aircraft to serve short-, medium- and long-haul routes, using single-aisle jets for domestic and regional markets and wide-body equipment for transcontinental services.