United Airlines (NASDAQ:UAL) Releases Q2 2024 Earnings Guidance

United Airlines (NASDAQ:UAL) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 3.750-4.250 for the period, compared to the consensus estimate of 3.710. The company issued revenue guidance of -.

United Airlines Price Performance

Shares of UAL opened at $51.42 on Friday. The company has a market capitalization of $16.91 billion, a price-to-earnings ratio of 6.36, a P/E/G ratio of 0.70 and a beta of 1.55. United Airlines has a fifty-two week low of $33.68 and a fifty-two week high of $58.23. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.75 and a quick ratio of 0.76. The business’s 50-day moving average is $44.29 and its 200-day moving average is $41.42.

United Airlines (NASDAQ:UAL) last issued its earnings results on Tuesday, January 23rd. The transportation company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.39. The company had revenue of $13.63 billion for the quarter, compared to the consensus estimate of $13.55 billion. United Airlines had a return on equity of 39.85% and a net margin of 4.90%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 EPS. Equities research analysts expect that United Airlines will post 9.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

UAL has been the topic of a number of research reports. Redburn Atlantic downgraded United Airlines from a buy rating to a neutral rating and set a $50.00 price objective on the stock. in a report on Tuesday, February 13th. UBS Group initiated coverage on United Airlines in a research note on Wednesday, March 20th. They issued a neutral rating and a $47.00 target price for the company. Susquehanna upped their target price on United Airlines from $55.00 to $60.00 and gave the company a positive rating in a research note on Thursday. Morgan Stanley increased their price objective on United Airlines from $75.00 to $80.00 and gave the stock an overweight rating in a research note on Thursday. Finally, TD Cowen raised their price target on United Airlines from $55.00 to $65.00 and gave the company an outperform rating in a report on Wednesday, January 24th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $66.53.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Oarsman Capital Inc. bought a new position in shares of United Airlines during the fourth quarter valued at about $217,000. Public Employees Retirement System of Ohio boosted its holdings in shares of United Airlines by 2.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 193,087 shares of the transportation company’s stock worth $7,967,000 after purchasing an additional 4,572 shares during the period. Virtus ETF Advisers LLC boosted its holdings in shares of United Airlines by 27.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 16,519 shares of the transportation company’s stock worth $682,000 after purchasing an additional 3,553 shares during the period. Legal & General Group Plc boosted its holdings in shares of United Airlines by 8.4% during the fourth quarter. Legal & General Group Plc now owns 563,067 shares of the transportation company’s stock worth $23,232,000 after purchasing an additional 43,611 shares during the period. Finally, NWI Management LP boosted its holdings in shares of United Airlines by 92.3% during the fourth quarter. NWI Management LP now owns 375,000 shares of the transportation company’s stock worth $15,473,000 after purchasing an additional 180,000 shares during the period. 69.69% of the stock is owned by institutional investors.

United Airlines Company Profile

United Airlines Holdings, Inc, through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also offers catering, ground handling, flight academy, and maintenance services for third parties.