American Airlines Group Inc (NASDAQ:AAL) reported September and year-to-date 2016 traffic results.
American Airlines Group’s total revenue passenger miles (RPMs) were 17.8 billion, down 1.7 percent versusSeptember 2015. Total capacity was 21.8 billion available seat miles (ASMs), down 0.4 percent versus September 2015. Total passenger load factor was 81.6 percent, down 1.1 percentage points versus September 2015.
The Company expects its third quarter 2016 total revenue per available seat mile to be down approximately 2 to 3 percent year-over-year. In addition, the Company expects its third quarter pre-tax margin excluding special items to be between 13 and 15 percent. For more financial forecasting detail, including the Company’s anticipated third quarter net special items, please refer to the Company’s investor relations update also filed today.
The following summarizes American Airlines Group traffic results for the month and year-to-date ended September 30, 2016, and 2015, consisting of mainline-operated flights, wholly owned regional subsidiaries and operating results from capacity purchase agreements. (Original Source)
Shares of American Airlines are up nearly 2% to $39.75 in pre-market trading. AAL has a 1-year high of $47.09 and a 1-year low of $24.85. The stock’s 50-day moving average is $36.45 and its 200-day moving average is $34.67.
On the ratings front, AAL has been the subject of a number of recent research reports. In a report issued on September 21, Raymond James analyst Savanthi Syth downgraded AAL to Hold. Separately, on September 14, UBS’s Darryl Genovesi downgraded the stock to Hold and has a price target of $38.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Savanthi Syth and Darryl Genovesi have a total average return of 5.9% and 6.7% respectively. Syth has a success rate of 49% and is ranked #868 out of 4184 analysts, while Genovesi has a success rate of 48% and is ranked #1305.
Overall, 2 research analysts have rated the stock with a Sell rating, 4 research analysts have assigned a Hold rating and 5 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $42.67 which is 10% above where the stock closed yesterday.
American Airlines Group, Inc. is a holding company whose business activity is the operation of a network carrier through its principal wholly-owned mainline operating subsidiary, American. The company provides air transportation for passengers and cargo. It cargo division provides a range of freight and mail services, with facilities and interline connections available across the globe.