Air Transport Services Group (NASDAQ:ATSG) Announces Quarterly Results

Air Transport Services Group (NASDAQ:ATSG – Get Rating) released its results on Thursday. The transportation company reported earnings per share (EPS) of $0.59 for the quarter, beating the consensus estimate of $0.50 by $0.09, Briefing.com reports. The company posted revenue of $510.00 million for the quarter, compared to $505.54 million expected by analysts. Air Transport Services Group achieved a net margin of 12.96% and a return on equity of 13.30%. The company’s revenue for the quarter increased 24.4% compared to the same quarter last year. In the same quarter of the previous year, the company had achieved EPS of $0.35.

Performance of shares in the Air transport services group

NASDAQ:ATSG shares traded down $1.60 during Friday’s trading, hitting $31.40. The company’s shares had a trading volume of 467,361 shares, compared to an average volume of 436,204. The company has a 50-day moving average of $29.87 and a 200-day moving average of $29.91. Air Transport Services Group has a 12-month low of $23.68 and a 12-month high of $34.54. The company has a debt ratio of 0.94, a current ratio of 1.04 and a quick ratio of 0.89. The company has a market capitalization of $2.34 billion, a price-earnings ratio of 11.68 and a beta of 0.56.

Changes to analyst ratings

The ATSG has been the subject of several reports by research analysts. StockNews.com upgraded shares of Air Transport Services Group from a “buy” rating to a “hold” rating in a Saturday, June 18 research note. Cowen raised his price target on shares of Air Transport Services Group from $31.00 to $40.00 in a Monday, May 9 research note. Finally, Cowen raised his price target on shares of Air Transport Services Group from $31.00 to $40.00 in a Monday, May 9 research note.

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Several institutional investors have recently changed their positions in the company. Raymond James Trust NA bought a new position in shares of Air Transport Services Group in Q1 for a value of approximately $216,000. Quantamental Technologies LLC acquired a new stake in Air Transport Services Group in Q1 for a value of approximately $233,000. Bank of New York Mellon Corp increased its stake in Air Transport Services Group by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 331,441 shares of the transportation company worth $11,087,000 after acquiring 9,681 additional shares last quarter. PNC Financial Services Group Inc. increased its stake in Air Transport Services Group by 714.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,706 shares of the transportation company worth $391,000 after acquiring 10,268 additional shares last quarter. Finally, MetLife Investment Management LLC increased its stake in Air Transport Services Group by 56.5% in the 1st quarter. MetLife Investment Management LLC now owns 32,199 shares of the transportation company worth $1,077,000 after acquiring 11,631 additional shares last quarter. Institutional investors hold 93.34% of the company’s shares.

Airline Services Group Company Profile

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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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Earnings History for Air Transport Services Group (NASDAQ:ATSG)

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