United Airlines (NASDAQ:UAL) Issues Quarterly Earnings Results, Beats Estimates By $0.30 EPS

United Airlines (NASDAQ:UAL) announced its quarterly earnings data on Tuesday. The transportation company reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.30, RTT News reports. The business had revenue of $14.70 billion during the quarter, compared to the consensus estimate of $14.40 billion. United Airlines had a net margin of 5.52% and a return on equity of 34.03%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.00 earnings per share.

United Airlines Stock Down 2.3 %

Shares of United Airlines stock opened at $107.97 on Thursday. United Airlines has a 52-week low of $37.02 and a 52-week high of $116.00. The firm’s 50 day moving average price is $98.51 and its 200-day moving average price is $70.24. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 1.95. The company has a market cap of $35.51 billion, a P/E ratio of 11.45, a PEG ratio of 0.80 and a beta of 1.44.

Insider Buying and Selling at United Airlines

In related news, EVP Kate Gebo sold 17,500 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $80.44, for a total transaction of $1,407,700.00. Following the transaction, the executive vice president now directly owns 40,012 shares of the company’s stock, valued at $3,218,565.28. This represents a 30.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Linda P. Jojo sold 60,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $95.12, for a total value of $5,707,200.00. Following the completion of the sale, the executive vice president now directly owns 63,599 shares of the company’s stock, valued at approximately $6,049,536.88. This represents a 48.54 % decrease in their position. The disclosure for this sale can be found here. 0.63% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on UAL. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $119.00 price objective on shares of United Airlines in a research report on Friday, November 15th. TD Cowen upped their price target on shares of United Airlines from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Citigroup lifted their price objective on shares of United Airlines from $98.00 to $122.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Barclays upped their target price on shares of United Airlines from $75.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of United Airlines from $108.00 to $133.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. One research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $106.45.

United Airlines announced that its board has authorized a share repurchase plan on Tuesday, October 15th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the transportation company to purchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

United Airlines Company Profile

United Airlines Holdings, Inc, through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also offers catering, ground handling, flight academy, and maintenance services for third parties.