LATAM Airlines Group (NYSE:LTM) Announces Earnings Results

LATAM Airlines Group (NYSE:LTM) issued its earnings results on Tuesday. The transportation company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.23 by $0.31, reports. The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.52 billion. LATAM Airlines Group had a return on equity of 101.21% and a net margin of 9.69%.

LATAM Airlines Group Stock Up 8.5%

LATAM Airlines Group stock traded up $3.75 during mid-day trading on Wednesday, hitting $47.84. 685,132 shares of the stock were exchanged, compared to its average volume of 1,026,930. LATAM Airlines Group has a 12 month low of $41.44 and a 12 month high of $70.42. The firm’s fifty day simple moving average is $49.54 and its two-hundred day simple moving average is $52.74. The stock has a market capitalization of $13.74 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 1.11 and a beta of 3.87.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Weiss Ratings upgraded LATAM Airlines Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, October 26th. Zacks Research cut LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Finally, Wall Street Zen downgraded LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 8th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, LATAM Airlines Group presently has an average rating of “Moderate Buy” and an average price target of $66.27.

About LATAM Airlines Group

LATAM Airlines Group SA is a Chile-based airline holding company and one of the largest air transportation groups in Latin America. The group provides scheduled passenger and cargo services through affiliated airlines operating under the LATAM brand, connecting major cities within Latin America and serving destinations in North America, Europe, the Caribbean, Africa and Oceania.

Its passenger business includes domestic and international flights, while its cargo operations transport freight using dedicated aircraft and cargo capacity on passenger flights.