Azul S.A. Expected to Post Q3 2024 Earnings of ($0.55) Per Share (NYSE:AZUL)

Azul S.A. (NYSE:AZUL) – Equities research analysts at Seaport Res Ptn decreased their Q3 2024 earnings per share estimates for shares of Azul in a note issued to investors on Thursday, October 10th. Seaport Res Ptn analyst D. Mckenzie now expects that the company will post earnings of ($0.55) per share for the quarter, down from their previous estimate of ($0.05). Seaport Res Ptn currently has a “Hold” rating on the stock. The consensus estimate for Azul’s current full-year earnings is ($1.73) per share. Seaport Res Ptn also issued estimates for Azul’s Q4 2024 earnings at $0.06 EPS, FY2024 earnings at ($2.20) EPS and FY2025 earnings at ($0.75) EPS.

Azul (NYSE:AZUL) last released its quarterly earnings results on Monday, August 12th. The company reported ($1.23) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.63). The business had revenue of $800.65 million for the quarter, compared to analyst estimates of $791.43 million. During the same period last year, the firm posted ($0.81) earnings per share.

Several other equities research analysts also recently weighed in on AZUL. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Azul from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Hsbc Global Res upgraded shares of Azul to a “hold” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. downgraded shares of Azul from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 10th. Barclays lowered their target price on shares of Azul from $10.00 to $4.50 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Finally, The Goldman Sachs Group downgraded shares of Azul from a “buy” rating to a “neutral” rating and lowered their target price for the company from $6.70 to $4.00 in a research note on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.59.

Azul Stock Down 4.0 %

Shares of AZUL opened at $3.15 on Monday. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -1.29 and a beta of 1.98. Azul has a twelve month low of $2.02 and a twelve month high of $11.26. The company has a 50 day moving average of $3.30 and a two-hundred day moving average of $4.67.

Institutional Investors Weigh In On Azul

Several hedge funds have recently added to or reduced their stakes in the business. Creative Planning purchased a new position in shares of Azul during the 3rd quarter valued at about $35,000. Signaturefd LLC raised its position in Azul by 35.9% during the second quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock valued at $43,000 after acquiring an additional 2,812 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Azul in the second quarter valued at approximately $51,000. Inspire Advisors LLC lifted its holdings in Azul by 20.1% in the second quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock valued at $90,000 after acquiring an additional 3,764 shares during the period. Finally, Coronation Fund Managers Ltd. boosted its position in Azul by 9.5% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 27,341 shares of the company’s stock worth $109,000 after purchasing an additional 2,380 shares in the last quarter. 0.82% of the stock is owned by hedge funds and other institutional investors.

Azul Company Profile

Azul SA, together with its subsidiaries, provides air transportation services in Brazil and internationally. As of December 31, 2023, the company operated approximately 1,000 daily departures to 160 destinations through a network of 300 non-stop routes with an operating fleet of 183 aircraft and a passenger contractual fleet of 189 aircraft.