Grupo Aeromexico (NYSE:AERO) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Grupo Aeromexico (NYSE:AEROGet Free Report) posted its quarterly earnings results on Monday. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.03), Zacks reports. Grupo Aeromexico had a negative return on equity of 41.04% and a net margin of 6.17%.

Grupo Aeromexico Price Performance

NYSE:AERO traded down $1.36 during midday trading on Monday, reaching $15.37. 270,642 shares of the company traded hands, compared to its average volume of 385,134. Grupo Aeromexico has a twelve month low of $12.26 and a twelve month high of $23.05. The firm has a market capitalization of $2.10 billion and a price-to-earnings ratio of 18.75. The company has a fifty day moving average price of $16.63 and a 200 day moving average price of $17.42.

Insiders Place Their Bets

In other Grupo Aeromexico news, insider Aaron James Murray sold 350,000 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $1.56, for a total value of $546,000.00. Following the sale, the insider directly owned 1,618,130 shares of the company’s stock, valued at $2,524,282.80. This trade represents a 17.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 12.82% of the stock is owned by corporate insiders.

Institutional Trading of Grupo Aeromexico

Large investors have recently modified their holdings of the company. Norges Bank bought a new stake in Grupo Aeromexico in the 4th quarter valued at about $8,784,000. Goldman Sachs Group Inc. bought a new position in Grupo Aeromexico in the 4th quarter worth about $3,968,000. Nuveen LLC acquired a new stake in shares of Grupo Aeromexico in the fourth quarter valued at approximately $22,019,000. Federated Hermes Inc. acquired a new stake in shares of Grupo Aeromexico in the fourth quarter valued at approximately $220,000. Finally, HRT Financial LP bought a new stake in shares of Grupo Aeromexico during the fourth quarter valued at approximately $295,000.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Zacks Research upgraded Grupo Aeromexico from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. The Goldman Sachs Group raised Grupo Aeromexico to a “strong-buy” rating in a research report on Monday, April 13th. Barclays reduced their price objective on Grupo Aeromexico from $32.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 24th. JPMorgan Chase & Co. lowered their target price on shares of Grupo Aeromexico from $28.00 to $26.50 and set an “overweight” rating for the company in a research note on Friday, June 12th. Finally, Wall Street Zen cut shares of Grupo Aeromexico from a “buy” rating to a “hold” rating in a report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $28.06.

Read Our Latest Stock Analysis on AERO

About Grupo Aeromexico

(Get Free Report)

Grupo Aeroméxico is the parent company of Aeroméxico, Mexico’s long-established flag carrier and commercial airline group. The company operates scheduled passenger and cargo services, with a network that connects domestic destinations across Mexico and international markets in the Americas, Europe and Asia. Grupo Aeroméxico’s operations include mainline services as well as regional flying through its regional affiliates, airport ground-handling and cargo divisions that support its commercial network.

The carrier deploys a mix of narrow-body and wide-body aircraft to serve short-, medium- and long-haul routes, using single-aisle jets for domestic and regional markets and wide-body equipment for transcontinental services.

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