Air Transport Services Group (NASDAQ:ATSG) Reports Earnings and Beats Expectations of $0.16 EPS


Air Transport Services Group (NASDAQ:ATSG – Get Rating) released its quarterly earnings data on Thursday. The transportation company reported EPS of $0.56 for the quarter, beating analyst consensus estimates of $0.40 by $0.16, MarketWatch Earnings reports. The company posted revenue of $485.86 million in the quarter, compared to a consensus estimate of $474.93 million. Air Transport Services Group achieved a return on equity of 11.57% and a net margin of 13.34%. The company’s revenue for the quarter increased 29.2% year over year. During the same period a year earlier, the company posted EPS of $0.19.

NASDAQ:ATSG fell $0.71 on Friday, hitting $30.36. The stock had a trading volume of 452,383 shares, compared to an average volume of 361,856. The company has a current ratio of 1.13, a quick ratio of 0.97 and a debt ratio of 0.98 . The company has a 50-day moving average of $31.57 and a 200-day moving average of $28.80. The stock has a market capitalization of $2.26 billion, a P/E ratio of 11.16 and a beta of 0.54. Air Transport Services Group has a 12-month low of $21.42 and a 12-month high of $34.54.

A number of brokerages have weighed in on ATSG recently. Stephens raised his price target on shares of Air Transport Services Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a Wednesday, March 2 research report. StockNews.com began covering shares of Air Transport Services Group in a research report on Thursday, March 31. They set a “holding” rating for the company. Finally, Truist Financial raised its price target on shares of Air Transport Services Group from $35.00 to $40.00 in a Monday, February 28 research report.

In other Air Transport Services Group news, insider Michael L. Berger sold 7,240 shares of the company in a trade dated Wednesday, March 16. The shares were sold at an average price of $31.80, for a total value of $230,232.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, insider James T. Pradetto sold 3,242 shares in a trade dated Friday, March 11. The stock was sold at an average price of $31.47, for a total transaction of $102,025.74. The disclosure of this sale can be found here. In the past three months, insiders have sold 10,924 shares of the company valued at $346,388. 1.70% of the shares are currently held by insiders.

Several hedge funds have recently changed their ATSG holdings. State Street Corp raised its position in shares of Air Transport Services Group by 12.3% during the fourth quarter. State Street Corp now owns 1,604,292 shares of the transportation company worth $47,134,000 after buying an additional 175,991 shares in the last quarter. BlackRock Inc. increased its position in Air Transport Services Group shares by 1.9% during the fourth quarter. BlackRock Inc. now owns 4,023,611 shares of the transportation company worth $118,213,000 after buying an additional 75,298 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Air Transport Services Group by 14.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 440,019 shares of the transportation company worth $12,928,000 after acquiring an additional 56,600 shares during the period. DE Shaw & Co. Inc. increased its stake in Air Transport Services Group by 52.6% during the fourth quarter. DE Shaw & Co. Inc. now owns 151,365 shares of the transportation company worth $4,447,000 after acquiring an additional 52,158 shares during the period. Finally, Barclays PLC increased its stake in Air Transport Services Group by 130.6% during the fourth quarter. Barclays PLC now owns 71,643 shares in the transport company worth $2,104,000 after acquiring a further 40,578 shares during the period. 93.34% of the shares are currently held by institutional investors and hedge funds.

About Airline Services Group (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 insurance, and aviation fuel services; 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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