Q2 2024 Earnings Forecast for United Airlines Holdings, Inc. Issued By Zacks Research (NASDAQ:UAL)

United Airlines Holdings, Inc. (NASDAQ:UAL) – Zacks Research cut their Q2 2024 earnings per share estimates for shares of United Airlines in a report issued on Thursday, September 7th. Zacks Research analyst M. Basu now anticipates that the transportation company will earn $4.15 per share for the quarter, down from their prior forecast of $4.17. The consensus estimate for United Airlines’ current full-year earnings is $11.29 per share.

United Airlines (NASDAQ:UAL) last announced its quarterly earnings data on Thursday, July 20th. The transportation company reported $5.03 EPS for the quarter, beating the consensus estimate of $4.03 by $1.00. The firm had revenue of $14.18 billion for the quarter, compared to analyst estimates of $13.90 billion. United Airlines had a return on equity of 48.89% and a net margin of 5.24%. The company’s revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.43 EPS.

UAL has been the topic of several other reports. JPMorgan Chase & Co. increased their price objective on United Airlines from $70.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, July 21st. Bank of America increased their target price on United Airlines from $43.00 to $50.00 in a report on Monday, June 26th. Jefferies Financial Group increased their target price on United Airlines from $50.00 to $60.00 in a report on Tuesday, July 11th. Redburn Partners upgraded United Airlines from a “neutral” rating to a “buy” rating and set a $80.00 target price for the company in a report on Monday, August 7th. Finally, Evercore ISI dropped their target price on United Airlines from $65.00 to $58.00 and set an “in-line” rating for the company in a report on Monday, August 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, United Airlines currently has an average rating of “Moderate Buy” and a consensus target price of $70.14.

United Airlines Price Performance

Shares of United Airlines stock opened at $47.44 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.86 and a debt-to-equity ratio of 3.49. The firm has a market capitalization of $15.56 billion, a PE ratio of 5.89, a price-to-earnings-growth ratio of 0.08 and a beta of 1.42. The business’s 50-day moving average price is $52.49 and its 200-day moving average price is $48.81. United Airlines has a 12 month low of $31.58 and a 12 month high of $58.23.

Insider Activity at United Airlines

In other United Airlines news, EVP Gregory L. Hart sold 12,000 shares of United Airlines stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $52.26, for a total value of $627,120.00. Following the completion of the sale, the executive vice president now owns 26,434 shares of the company’s stock, valued at approximately $1,381,440.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other United Airlines news, EVP Gregory L. Hart sold 12,000 shares of United Airlines stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $52.26, for a total value of $627,120.00. Following the completion of the sale, the executive vice president now owns 26,434 shares of the company’s stock, valued at approximately $1,381,440.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Gerald Laderman sold 4,491 shares of United Airlines stock in a transaction on Monday, July 24th. The stock was sold at an average price of $57.05, for a total value of $256,211.55. Following the completion of the sale, the chief financial officer now directly owns 133,213 shares of the company’s stock, valued at approximately $7,599,801.65. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On United Airlines

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of United Airlines by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 34,550,592 shares of the transportation company’s stock worth $1,601,764,000 after buying an additional 700,850 shares during the last quarter. Capital International Investors boosted its stake in shares of United Airlines by 1.3% in the 2nd quarter. Capital International Investors now owns 20,693,035 shares of the transportation company’s stock worth $1,135,158,000 after buying an additional 255,853 shares during the last quarter. State Street Corp boosted its stake in shares of United Airlines by 2.2% in the 2nd quarter. State Street Corp now owns 10,087,310 shares of the transportation company’s stock worth $553,491,000 after buying an additional 221,127 shares during the last quarter. Geode Capital Management LLC lifted its position in United Airlines by 2.2% during the second quarter. Geode Capital Management LLC now owns 7,171,904 shares of the transportation company’s stock valued at $392,958,000 after purchasing an additional 153,708 shares in the last quarter. Finally, FMR LLC lifted its position in United Airlines by 33.6% during the first quarter. FMR LLC now owns 6,572,951 shares of the transportation company’s stock valued at $290,853,000 after purchasing an additional 1,654,181 shares in the last quarter. 70.37% of the stock is currently owned by hedge funds and other institutional investors.

About United Airlines

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, training, and maintenance services for third parties.