The stock was sold at an average price of $32.75, for a total transaction of $655,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey D. Benjamin acquired 35,000 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The stock was purchased at an average price of $32.13 per share, with a total value of $96,390.00.
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A number of equities analysts recently weighed in on the company.
American Airlines Group Inc., which has a large trans-Atlantic business, said on Friday it expects its European routes to suffer from overcapacity, economic weakness and terrorism fears in the coming months. In American’s case, investors cheered the results, perhaps because airline management articulated a plan to deal with the issues. On year trading price range hit the peak level of $47.09 and touched the lowest level of $24.85 and its distance from 52 week high is -25.34% and current price is above +40.68% from 52 week low. The consensus price target from Thomson Reuters was $41.04 before the announcement.
American Airlines Group (NASDAQ:AAL) opened at 34.96 on Friday. (PSA). The company has a market cap of $20.46 billion.
Kirby said American will boost revenue by at least $1 billion a year once it starts offering both a bare-bones fare to compete with discounters like Spirit Airlines, and a “premium economy” ticket for people wanting a better seat. The stock is now holding above its 50 day moving average of $11.23 and above its 200 day moving average of $31.21.
American Airlines said its second quarter net income dropped 44 percent to $950 million as the carrier put aside half a billion dollars to pay income taxes. He argued that a more accurate indicator is pre-tax profit excluding special items; on that basis, American earned $1.5 billion in the second quarter, down slightly from a $1.6 billion profit on a similar basis in the prior-year period. The business earned $10.40 billion during the quarter, compared to the consensus estimate of $10.27 billion.
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Thirteen analysts surveyed by FactSet predicted adjusted earnings of $1.68 per share, and seven analysts polled by Zacks Investment Research expected $1.65. Like Delta Air Lines and United Airlines, American is introducing ‘Basic Economy fares, a bare-bones product that likely will come without some of the extras, like free upgrades for elite customers and advanced seat assignments, that legacy airline customers generally expect.
