United Airlines (NASDAQ:UAL) Shares Gap Up Following Better-Than-Expected Earnings

United Airlines Holdings, Inc. (NASDAQ:UAL) gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $67.00, but opened at $69.64. United Airlines shares last traded at $67.61, with a volume of 7,137,997 shares changing hands.

The transportation company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.16. United Airlines had a return on equity of 32.26% and a net margin of 5.52%. The business had revenue of $13.21 billion for the quarter, compared to the consensus estimate of $13.47 billion.

Analyst Ratings Changes

UAL has been the topic of several recent analyst reports. Susquehanna cut their price objective on shares of United Airlines from $90.00 to $81.00 and set a “positive” rating on the stock in a report on Thursday. Barclays cut their price target on shares of United Airlines from $140.00 to $94.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Evercore ISI lowered their price objective on shares of United Airlines from $145.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Bank of America cut their target price on United Airlines from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Finally, Morgan Stanley lifted their price target on United Airlines from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.95.

Institutional Investors Weigh In On United Airlines

A number of hedge funds and other institutional investors have recently made changes to their positions in UAL. Bank of Jackson Hole Trust acquired a new position in shares of United Airlines in the 4th quarter valued at $25,000. Hemington Wealth Management raised its position in shares of United Airlines by 70.8% in the fourth quarter. Hemington Wealth Management now owns 316 shares of the transportation company’s stock worth $30,000 after acquiring an additional 131 shares during the period. Capital A Wealth Management LLC purchased a new stake in shares of United Airlines during the 4th quarter worth about $31,000. Whipplewood Advisors LLC acquired a new stake in shares of United Airlines during the 4th quarter valued at about $32,000. Finally, Roxbury Financial LLC purchased a new position in shares of United Airlines in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 69.69% of the company’s stock.

United Airlines Stock Down 1.0 %

The company has a market cap of $21.70 billion, a price-to-earnings ratio of 7.03, a PEG ratio of 0.67 and a beta of 1.19. The business has a fifty day moving average of $79.87 and a two-hundred day moving average of $87.25. The company has a current ratio of 0.81, a quick ratio of 0.74 and a debt-to-equity ratio of 1.99.

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.