Air Transport Services Group (NASDAQ:ATSG) Issues FY 2024 Earnings Guidance

Air Transport Services Group (NASDAQ:ATSG) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.550-0.800 for the period, compared to the consensus earnings per share estimate of 0.700. The company issued revenue guidance of -. Air Transport Services Group also updated its FY24 guidance to $0.55-0.80 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of Air Transport Services Group from a hold rating to a sell rating in a research note on Tuesday, March 26th. Susquehanna reduced 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 note on Wednesday, February 28th. Finally, Truist Financial decreased their target price on shares of 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $23.33.

Air Transport Services Group Trading Up 11.0 %

Shares of ATSG traded up $1.46 during trading on Tuesday, reaching $14.71. 1,312,754 shares of the company traded hands, compared to its average volume of 619,153. The stock has a 50-day simple moving average of $12.82 and a 200-day simple moving average of $15.05. The company has a quick ratio of 0.74, a current ratio of 0.86 and a debt-to-equity ratio of 1.25. Air Transport Services Group has a twelve month low of $11.62 and a twelve month high of $24.96. The stock has a market cap of $966.15 million, a PE ratio of 19.68 and a beta of 0.85.

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

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.