Zacks Investment Research upgraded shares of United Continental Holdings, Inc. (NYSE:UAL) from a sell rating to a hold rating in a research report sent to investors on Thursday.
According to Zacks, “United Continental Holdings outperformed in the third quarter of 2017. However, shares of the company plummeted following the earnings release. This was because investors were disappointed with the carrier’s lack of clarity on the conference call pertaining to its efforts to check costs and boost revenues. In addition, the company stated that it will continue to expand capacity in a bid to maintain market share at major airport hubs to deal with competition from discount carriers. Also, the decline in October load factor due to capacity overexpansion remains concerning. Meanwhile, the surge in labor and fuel costs continue to hurt the bottom line. In fact, shares of United Continental have underperformed its industry so far this year. However, we are impressed with the company's expansion and fleet modernization efforts. The company's efforts to reward shareholders also raise optimism in the stock.”
Other analysts have also issued reports about the stock. Bank of America Corporation restated a buy rating and set a $105.00 target price on shares of United Continental Holdings in a research report on Wednesday, July 12th. Citigroup Inc. restated a neutral rating and set a $68.00 target price (down from $85.00) on shares of United Continental Holdings in a research report on Thursday, September 7th. Morgan Stanley reaffirmed an equal weight rating and set a $85.00 price target (up previously from $80.00) on shares of United Continental Holdings in a report on Thursday, July 13th. Raymond James Financial, Inc. reaffirmed a market perform rating on shares of United Continental Holdings in a report on Wednesday, September 20th. Finally, Sanford C. Bernstein reaffirmed a hold rating on shares of United Continental Holdings in a report on Monday, August 7th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $77.63.
Shares of United Continental Holdings (UAL) opened at $58.34 on Thursday. The company has a current ratio of 0.60, a quick ratio of 0.53 and a debt-to-equity ratio of 1.37. The stock has a market cap of $17,336.69, a P/E ratio of 8.18, a P/E/G ratio of 1.51 and a beta of 1.02. United Continental Holdings has a 12-month low of $57.34 and a 12-month high of $83.04.
United Continental Holdings (NYSE:UAL) last announced its earnings results on Wednesday, October 18th. The transportation company reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.10. The company had revenue of $9.88 billion during the quarter, compared to analyst estimates of $9.87 billion. United Continental Holdings had a net margin of 5.22% and a return on equity of 25.26%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.11 earnings per share. equities analysts predict that United Continental Holdings will post 6.33 EPS for the current fiscal year.
In other United Continental Holdings news, Director Robert A. Milton purchased 1,000 shares of United Continental Holdings stock in a transaction that occurred on Tuesday, October 24th. The shares were bought at an average price of $58.60 per share, for a total transaction of $58,600.00. Following the completion of the transaction, the director now owns 6,176 shares of the company’s stock, valued at approximately $361,913.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward Shapiro purchased 15,000 shares of United Continental Holdings stock in a transaction that occurred on Friday, September 15th. The stock was acquired at an average price of $59.87 per share, for a total transaction of $898,050.00. Following the transaction, the director now directly owns 27,707 shares of the company’s stock, valued at approximately $1,658,818.09. The disclosure for this purchase can be found here. Insiders own 0.27% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Commonwealth Bank of Australia increased its position in United Continental Holdings by 11.2% in the third quarter. Commonwealth Bank of Australia now owns 133,697 shares of the transportation company’s stock worth $8,134,000 after purchasing an additional 13,491 shares during the last quarter. Wells Fargo & Company MN increased its position in United Continental Holdings by 14.2% in the third quarter. Wells Fargo & Company MN now owns 1,324,612 shares of the transportation company’s stock worth $80,641,000 after purchasing an additional 164,488 shares during the last quarter. Zeke Capital Advisors LLC bought a new stake in United Continental Holdings in the third quarter worth $230,000. Schroder Investment Management Group increased its position in United Continental Holdings by 139.2% in the third quarter. Schroder Investment Management Group now owns 63,897 shares of the transportation company’s stock worth $3,908,000 after purchasing an additional 37,181 shares during the last quarter. Finally, Legal & General Group Plc increased its position in United Continental Holdings by 2.6% in the third quarter. Legal & General Group Plc now owns 508,377 shares of the transportation company’s stock worth $30,950,000 after purchasing an additional 12,659 shares during the last quarter. Institutional investors own 99.08% of the company’s stock.
United Continental Holdings Company Profile
United Continental Holdings, Inc (UAL) is a holding company and its principal subsidiary is United Air Lines, Inc (United). The Company transports people and cargo through its mainline operations. It has global air rights in North America, Asia-Pacific, Europe, Middle East, Africa and Latin America. The Company, through United and its regional carriers, operates flights from its hubs at Newark Liberty International Airport (Newark Liberty), Chicago O’Hare International Airport (Chicago O’Hare), Denver International Airport (Denver), George Bush Intercontinental Airport (Houston Bush), Los Angeles International Airport (LAX), A.B.
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