Air Transport Services Group, Inc. (NASDAQ:ATSG) Expected to Report Quarterly Sales of $455.05 Million
Brokers expect Air Transport Services Group, Inc. (NASDAQ:ATSG – Get Rating) to post revenue of $455.05 million for the current fiscal quarter, reports Zacks Investment Research. Two analysts have made estimates of Air Transport Services Group’s earnings, with the lowest sales estimate of $451.40 million and the highest estimate of $458.70 million. The airline services group reported sales of $376.09 million in the same quarter last year, suggesting a positive growth rate of 21% year-over-year. The company is expected to release its next earnings report after the market closes on Monday, January 1.
On average, analysts expect Air Transport Services Group to record annual sales of $1.90 billion for the current year, with estimates ranging from $1.89 billion to $1.91 billion. For next year, analysts expect the company to register sales of $2.00 billion, with estimates ranging from $1.95 billion to $2.04 billion. Zacks sales calculations are an average based on a survey of analysts who cover Air Transport Services Group.
Air Transport Services Group (NASDAQ:ATSG – Get Rating) last released its quarterly results on Thursday, February 24. The transportation company reported EPS of $0.52 for the quarter. The company had revenue of $482.37 million in the quarter. Air Transport Services Group posted a net margin of 13.34% and a return on equity of 11.57%.
The ATSG has been the subject of several analyst reports. Truist Financial raised its price target on shares of Air Transport Services Group from $35.00 to $40.00 in a Monday, February 28 report. Stephens raised his price target on Air Transport Services Group shares from $34.00 to $40.00 and gave the company an “overweight” rating in a Wednesday, March 2 research report. Finally, StockNews.com began covering the airline services group in a report on Thursday, March 31. They issued a “hold” rating for the company.
Separately, insider Michael L. Berger sold 7,240 shares of the company in a trade dated Wednesday, March 16. The stock was sold at an average price of $31.80, for a total value of $230,232.00. The sale was disclosed in a filing with the SEC, accessible via this link. Additionally, director Jeffrey J. Vorholt acquired 2,000 shares of the company in a transaction dated Friday, March 25. The shares were acquired at an average cost of $32.94 per share, for a total transaction of $65,880.00. Disclosure of this purchase can be found here. In the past 90 days, insiders have sold 10,924 shares of the company worth $346,388. Company insiders own 1.70% of the company’s shares.
Several hedge funds and other institutional investors have recently changed their positions in the company. Rinkey Investments bought a new position in shares of Air Transport Services Group in the fourth quarter worth $42,000. Zullo Investment Group Inc. bought a new position in shares of Air Transport Services Group during the fourth quarter, valued at approximately $88,000. The Public Employees Retirement System of Ohio increased its stake in shares of Air Transport Services Group by 12.9% during the fourth quarter. The Ohio Public Employees Retirement System now owns 3,813 shares of the transportation company valued at $112,000 after buying 435 additional shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Air Transport Services Group during the fourth quarter for a value of approximately $140,000. Finally, Emerald Advisers LLC purchased a new stake in shares of Air Transport Services Group during the fourth quarter at a value of approximately $143,000. Hedge funds and other institutional investors hold 93.34% of the company’s shares.
NASDAQ:ATSG opened at $31.66 on Tuesday. Air Transport Services Group has a 12-month low of $21.42 and a 12-month high of $34.54. The company has a market capitalization of $2.35 billion, a price-earnings ratio of 11.99 and a beta of 0.52. The company has a quick ratio of 0.97, a current ratio of 1.13 and a debt ratio of 0.98. The company’s 50-day moving average is $31.41 and its 200-day moving average is $28.62.
Airline Services Group Company Profile (Get a rating)
Air Transport Services Group, Inc, together with its subsidiaries, provides aircraft leasing and air cargo transportation and related services in the United States and abroad. The Company offers aircraft, flight crew, aircraft maintenance, aircraft hull and liability and aviation fuel insurance; and aircraft maintenance and modification services, including airframe modification and heavy maintenance, component repairs, engineering services and aircraft line maintenance.
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