LATAM Airlines Group (NYSE:LTM) Issues Quarterly Earnings Results

Key Points

• LATAM Airlines Group exceeded quarterly expectations: The company reported EPS of $0.44, ahead of the $0.19 consensus estimate, while revenue reached $4.12 billion versus expectations of $4.07 billion. Net margin was 11.03% and return on equity was 127.75%.
• Shares rose 2.2% to $55.69 during Tuesday trading. The stock has a market capitalization of approximately $15.99 billion and has traded between $41.41 and $70.42 over the past year.
• Analyst sentiment remains favorable: LATAM has an average “Buy” rating and a consensus price target of $66.27, with recent upgrades from Zacks Research and Wall Street Zen and $70 targets from Jefferies and JPMorgan.

LATAM Airlines Group (NYSE:LTM - Get Free Report) announced its quarterly earnings data on Tuesday. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.25, FiscalAI reports. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.07 billion. LATAM Airlines Group had a net margin of 11.03% and a return on equity of 127.75%.

LATAM Airlines Group Stock Up 2.2%

NYSE:LTM traded up $1.18 during midday trading on Tuesday, hitting $55.69. The stock had a trading volume of 820,039 shares, compared to its average volume of 1,110,408. The stock has a 50-day moving average of $53.65 and a 200 day moving average of $53.93. The company has a market capitalization of $15.99 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 1.06 and a beta of 3.62. LATAM Airlines Group has a one year low of $41.41 and a one year high of $70.42.

Wall Street Analysts Forecast Growth

LTM has been the subject of a number of research analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of LATAM Airlines Group in a research note on Friday, July 17th. Zacks Research upgraded LATAM Airlines Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 7th. Jefferies Financial Group began coverage on shares of LATAM Airlines Group in a research note on Thursday, June 18th. They set a "buy" rating and a $70.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of LATAM Airlines Group in a report on Wednesday, June 3rd. They issued an "overweight" rating and a $70.00 price target on the stock. Finally, Wall Street Zen raised shares of LATAM Airlines Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $66.27.

Institutional Investors Weigh In On LATAM Airlines Group

Several hedge funds have recently made changes to their positions in the company. Rhumbline Advisers raised its holdings in shares of LATAM Airlines Group by 37.6% in the 3rd quarter. Rhumbline Advisers now owns 4,394 shares of the transportation company's stock valued at $199,000 after purchasing an additional 1,200 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of LATAM Airlines Group by 340.2% during the fourth quarter. Royal Bank of Canada now owns 2,672 shares of the transportation company's stock valued at $144,000 after purchasing an additional 2,065 shares in the last quarter. Engineers Gate Manager LP boosted its stake in shares of LATAM Airlines Group by 12.6% during the second quarter. Engineers Gate Manager LP now owns 18,668 shares of the transportation company's stock valued at $759,000 after purchasing an additional 2,082 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in LATAM Airlines Group during the second quarter valued at approximately $90,000. Finally, Invesco Ltd. increased its holdings in LATAM Airlines Group by 26.6% during the fourth quarter. Invesco Ltd. now owns 12,058 shares of the transportation company's stock valued at $651,000 after buying an additional 2,533 shares during the period.

About LATAM Airlines Group

LATAM Airlines Group SA is a Chilean-based airline holding company formed in 2012 through the merger of LAN Airlines of Chile and TAM Linhas Aéreas of Brazil. The Group offers passenger and cargo air transportation services across South America and beyond, operating under a multi‐brand strategy that encompasses several nationally recognized carriers. Headquartered in Santiago, Chile, LATAM is structured to serve diverse market segments with full-service, premium and low‐cost offerings.

The core business activities of LATAM Airlines Group include scheduled domestic and international passenger flights, air cargo services and maintenance, repair and overhaul (MRO) capabilities through its technical divisions.

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