LATAM Airlines Group (NYSE:LTM) Posts Earnings Results, Beats Estimates By $0.25 EPS

LATAM Airlines Group (NYSE:LTM) announced its quarterly earnings results on Tuesday. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.25, FiscalAI reports. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.07 billion. LATAM Airlines Group had a return on equity of 127.75% and a net margin of 11.03%.

LATAM Airlines Group Stock Up 2.2%

Shares of LATAM Airlines Group stock traded up $1.18 during trading on Tuesday, reaching $55.69. The company’s stock had a trading volume of 820,039 shares, compared to its average volume of 1,110,408. LATAM Airlines Group has a 1-year low of $41.41 and a 1-year high of $70.42. The company has a 50-day simple moving average of $53.65 and a two-hundred day simple moving average of $53.93. The company has a market cap of $15.99 billion, a price-to-earnings ratio of 9.59, a P/E/G ratio of 1.06 and a beta of 3.62.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LTM shares. Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Friday, July 17th. Wall Street Zen upgraded LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. Jefferies Financial Group began coverage on shares of LATAM Airlines Group in a report on Thursday, June 18th. They issued a “buy” rating and a $70.00 target price for the company. The Goldman Sachs Group reissued a “buy” rating and set a $72.60 price target on shares of LATAM Airlines Group in a research report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. initiated coverage on shares of LATAM Airlines Group in a report on Wednesday, June 3rd. They issued an “overweight” rating and a $70.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $66.27.

Institutional Investors Weigh In On LATAM Airlines Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC acquired a new stake in LATAM Airlines Group in the second quarter worth about $90,000. Rhumbline Advisers increased its holdings in shares of LATAM Airlines Group by 113.8% during the first quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock valued at $100,000 after acquiring an additional 1,700 shares in the last quarter. Royal Bank of Canada raised its position in shares of LATAM Airlines Group by 340.2% in the 4th quarter. Royal Bank of Canada now owns 2,672 shares of the transportation company’s stock valued at $144,000 after purchasing an additional 2,065 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of LATAM Airlines Group in the 2nd quarter valued at approximately $237,000. Finally, Flow Traders U.S. LLC acquired a new stake in LATAM Airlines Group in the 2nd quarter worth approximately $263,000.

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.