Revenue: Revenues of $10.83 billion were 4.6% below the year-ago figure.
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The nationwide airliner is noted to have reported its June ended-quarter adjusted earnings per share (EPS) as $2.26, in turn beating the Street’s consensus by $0.02. A total of 073 shares were purchased at a price of $53.45 per share.
Quarterly profit excluding some items rose 27 percent to a record $1.9 billion, or $2.62 a share, American said.
“We think it’s the highest quarterly earnings that any airline has ever produced in any quarter”, chairman and CEO Doug Parker told analysts and reporters Friday, adding, “We are doing more than we thought we’d be able to accomplish with the [US Airways] merger …”
The stock price movement in pre-trading hours is noted to be treading on an upwards trajectory and increased by 2.39%, as at 8:23 AM EDT, which pulled the share price up to $43.63. The 52-week low of the share price is at $28.1.
Now the company Insiders own 0.7% of American Airlines Group Inc.
Check back later for our full write up on this American Airlines Group earnings report later! The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.58 per share.
Investors are watching shares of American Airlines Group, Inc. One research analyst has rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company also plans to invest $5.4 billion by the end of this year to acquire new commercial aircraft. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
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On a technical level the stock has a 50 Day Moving Average of 40.8806. The disclosure for this sale can be found here. The company has a market cap of $28.70 billion and a P/E ratio of 9.05. The Companys principal subsidiary is American Airlines, Inc. (NASDAQ:AAL). As of December 31, 2011, American provided scheduled jet service to approximately 160 destinations throughout North America, the Caribbean, Latin America, Europe and Asia. American also contracts with an independently owned regional airline, which does business as AmericanConnection (the AmericanConnection carrier).
