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

Grupo Aeromexico (NYSE:AERO) announced its quarterly earnings results on Monday. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.03), Zacks reports. Grupo Aeromexico had a negative return on equity of 24.95% and a net margin of 3.78%.The business had revenue of $1.48 billion for the quarter.

Grupo Aeromexico Stock Up 3.1%

Shares of Grupo Aeromexico stock opened at $15.77 on Wednesday. Grupo Aeromexico has a twelve month low of $12.26 and a twelve month high of $23.05. The company has a 50-day simple moving average of $16.64 and a two-hundred day simple moving average of $17.33. The stock has a market capitalization of $2.15 billion and a price-to-earnings ratio of 19.24.

Insiders Place Their Bets

In other Grupo Aeromexico news, insider Aaron James Murray sold 600,000 shares of the business’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 in the company, valued at $2,971,876.30. The trade was a 23.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Hedge Funds Weigh In On Grupo Aeromexico

Several large investors have recently modified their holdings of the business. Federated Hermes Inc. acquired a new stake in Grupo Aeromexico in the fourth quarter valued at approximately $220,000. Sandia Investment Management LP acquired a new position in Grupo Aeromexico during the fourth quarter worth $220,000. Quarry LP acquired a new position in Grupo Aeromexico during the fourth quarter worth $232,000. VR Advisory Services Ltd bought a new position in shares of Grupo Aeromexico in the fourth quarter valued at $259,000. Finally, HRT Financial LP bought a new position in shares of Grupo Aeromexico in the fourth quarter valued at $295,000.

Analyst Upgrades and Downgrades

AERO has been the subject of a number of recent research reports. Wall Street Zen downgraded Grupo Aeromexico from a “buy” rating to a “hold” rating in a research report on Sunday. JPMorgan Chase & Co. lowered their target price on shares of Grupo Aeromexico from $28.00 to $26.50 and set an “overweight” rating for the company in a report on Friday, June 12th. Jefferies Financial Group began coverage on shares of Grupo Aeromexico in a research report on Thursday, June 18th. They set a “hold” rating and a $20.00 target price for the company. Weiss Ratings raised Grupo Aeromexico from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 1st. Finally, Zacks Research upgraded Grupo Aeromexico from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.06.

Grupo Aeromexico Company Profile

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.