Hawaiian (NASDAQ:HA) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Hawaiian (NASDAQ:HA – Get Rating) released its earnings results on Tuesday. The transportation company reported ($2.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.51) by ($0.03), MarketWatch Earnings reports. The company had revenue of $477.21 million for the quarter, compared to analyst estimates of $476.68 million. Hawaiian had a negative return on equity of 63.40% and a negative net margin of 9.07%. The business’s revenue for the quarter was up 161.9% compared to the same quarter last year. During the same period last year, the company posted ($3.85) earnings per share. Hawaiian updated its Q2 2022 guidance to EPS.

Shares of HA stock traded down $1.05 during mid-day trading on Tuesday, reaching $18.56. 1,457,309 shares of the stock traded hands, compared to its average volume of 1,099,106. Hawaiian has a 1-year low of $14.62 and a 1-year high of $31.38. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 3.17. The company has a market cap of $952.63 million, a price-to-earnings ratio of -6.44 and a beta of 2.01. The stock’s fifty day simple moving average is $18.62 and its two-hundred day simple moving average is $19.27.

In other news, VP Aaron J. Alter sold 2,500 shares of the firm’s stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $19.39, for a total transaction of $48,475.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley increased its holdings in Hawaiian by 42.9% in the second quarter. Morgan Stanley now owns 473,655 shares of the transportation company’s stock worth $11,543,000 after purchasing an additional 142,131 shares in the last quarter. Royal Bank of Canada increased its holdings in Hawaiian by 11.7% in the third quarter. Royal Bank of Canada now owns 8,655 shares of the transportation company’s stock worth $187,000 after purchasing an additional 906 shares in the last quarter. Millennium Management LLC bought a new stake in Hawaiian in the third quarter worth approximately $1,941,000. LPL Financial LLC increased its holdings in Hawaiian by 14.1% in the third quarter. LPL Financial LLC now owns 13,997 shares of the transportation company’s stock worth $303,000 after purchasing an additional 1,731 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Hawaiian by 5.4% in the third quarter. Bank of New York Mellon Corp now owns 595,583 shares of the transportation company’s stock worth $12,901,000 after purchasing an additional 30,341 shares in the last quarter. Institutional investors own 85.99% of the company’s stock.

Several analysts recently weighed in on HA shares. Cowen raised Hawaiian from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $17.50 to $23.00 in a research note on Thursday, January 13th. Deutsche Bank Aktiengesellschaft lowered Hawaiian from a “buy” rating to a “hold” rating and reduced their price objective for the company from $25.00 to $23.00 in a research note on Friday. StockNews.com started coverage on Hawaiian in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group reduced their price objective on Hawaiian from $10.00 to $9.00 and set a “sell” rating on the stock in a research note on Thursday, April 7th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.33.

About Hawaiian (Get Rating)

Hawaiian Holdings, Inc, through its subsidiary, Hawaiian Airlines, Inc, engages in the scheduled air transportation of passengers and cargo. The company provides daily services on North America routes between the State of Hawai'i and Long Beach, Los Angeles, Oakland, Sacramento, San Diego, San Francisco, and San Jose, California; Las Vegas, Nevada; Seattle, Washington; Portland, Oregon; Phoenix, Arizona; and New York City, New York.

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