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In the latest market close, American Airlines (AAL) reached $11.03, with a -1.25% movement compared to the previous day. The stock's change was less than the S&P 500's daily loss of 0.29%. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq lost 0.31%.
The the stock of world's largest airline has risen by 8.55% in the past month, leading the Transportation sector's gain of 4.32% and the S&P 500's gain of 1.57%.
The upcoming earnings release of American Airlines will be of great interest to investors. The company is forecasted to report an EPS of $0.04, showcasing an 89.47% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $13.47 billion, showing a 0.12% drop compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.07 per share and revenue of $53.55 billion, indicating changes of -59.62% and +1.44%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for American Airlines. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 10.89% rise in the Zacks Consensus EPS estimate. As of now, American Airlines holds a Zacks Rank of #3 (Hold).
Investors should also note American Airlines's current valuation metrics, including its Forward P/E ratio of 10.4. Its industry sports an average Forward P/E of 10.4, so one might conclude that American Airlines is trading at no noticeable deviation comparatively.
It is also worth noting that AAL currently has a PEG ratio of 0.28. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Transportation - Airline industry had an average PEG ratio of 1.07.
The Transportation - Airline industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 182, positioning it in the bottom 29% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Zacks Investment Research
NORTHAMPTON, MA / ACCESSWIRE / September 18, 2024 / American AirlinesOriginally published in American Airlines' 2023 Sustainability Report
Expanding Our Commitment to Prevent Illegal Trafficking of Wildlife
In 2022, American became the first U.S. airline to join the Transport Taskforce of United for Wildlife, and, in 2023, we continued to implement our commitments outlined in the Buckingham Palace Declaration.
This organization, established by the Royal Foundation of the Prince and Princess of Wales, is working to protect elephants, rhinos, monkeys, birds, insects, reptiles and other endangered species, including plants, from the illegal wildlife trade that is pushing them toward extinction. This global criminal enterprise is worth an estimated $20 billion annually, with poachers and traffickers trading in a wide variety of endangered wildlife and wildlife body parts, generally for sale as trophies or for purported medicinal uses. Their activities are also linked to money laundering as well as the trafficking of drugs and weapons.
American has pledged to increase awareness among team members regarding the nature, scale and consequences of these activities. In 2023, we began our journey by working to understand our exposure to wildlife trafficking. Through an intensive analysis of our global network and the smuggling routes of animal products, we developed a risk assessment and used it to craft our strategy. It highlights specific regions, routes and hotspots within our network that pose high risks of smuggling.
The global nature of our Cargo operation and its significant presence in areas at risk of wildlife trafficking made it a logical choice for launching this strategy. Cargo served more than 21,000 unique origin and destination pairs in 2023. Highest-volume stations are spread throughout the world, including London, São Paulo, Buenos Aires, Dallas-Fort Worth, Miami and Los Angeles.
We have made wildlife awareness training a requirement for frontline Cargo team members, and over 95% of them completed it in 2023. We began the process of expanding training to other teams as well. We also worked to increase awareness among Cargo team members by distributing informational posters outlining common red flags and trafficking methods for display in more than 40 Cargo stations worldwide.
We also worked closely with our Corporate Security department to develop new channels for reporting suspected trafficking incidents. And to raise awareness, our Living Green Employee Business Resource Group sponsored events on this topic.
View additional multimedia and more ESG storytelling from American Airlines on 3blmedia.com.
Contact Info: Spokesperson: American Airlines Website: https://www.3blmedia.com/profiles/american-airlines Email: info@3blmedia.com
SOURCE: American Airlines
View the original press release on accesswire.comIn the past week, Alaska Air Group ALK gave a bullish outlook for the third quarter of 2024, mainly driven by the strong air-travel demand during summer. Delta Air Lines DAL expects the CrowdStrike CRWD-induced global IT outage on July 19 to hurt its third-quarter 2024 earnings by 45 cents per share.
American Airlines AAL received encouraging tidings on the labor front when the Association of Professional Flight Attendants announced that flight attendants of the airline have ratified a new five-year contract. Alaska Air’s $1.9 billion takeover of Hawaiian Holdings cleared the review of the Department of Transportation or DOT.
Recap of the Recent Most Important Stories
1. Driven by higher revenues during the summer and lower fuel costs, Alaska Air raised its third-quarter 2024 adjusted earnings per share guidance to the range of $2.15-$2.25 compared with the previous guidance of $1.40 to $1.60.
ALK now expects its third-quarter 2024 revenue per available seat mile (a key measure of unit revenues) to be up 2% on a year-over-year basis compared with the previous forecast of flat to positive. ALK now anticipates third-quarter 2024 economic fuel cost per gallon in the range of $2.60-$2.70 (prior view: $2.85-$2.95).
ALK currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
2. The global technology outage on July 19, caused by security software provider CrowdStrike’s software update, hit Delta Air Lines the hardest among the U.S. airlines. Following the faulty software update, DAL’s operations were crippled more than others due to its dependence on Microsoft systems for flight crew scheduling. As a result, approximately 7,000 DAL flights were canceled due to the outage, causing not only revenue loss but harassment to passengers.
Following the outage, DAL is now forecasting revenues to be flat or up no more than 1% for the quarter rather than up 2-4% as originally predicted. Capacity is now expected to increase approximately 4% (earlier guidance was for an increase in the 5-6% range). Non-fuel unit costs are now projected to increase 5.5% year over year (earlier guidance was for an increase in the 1-2% range). Full-year 2024 earnings per share are expected to be at or above the midpoint of the $6-$7 guided range (excluding the 45-cent impact from the IT outage on third-quarter earnings).
3. The ratification of the contract at AAL with flight attendants increased the value of the current agreement by $4.2 billion. With 95% of eligible flight attendants casting their votes, 87% of American Airlines flight attendants voted in favor of the contract, which takes effect from Oct. 1, 2024. American Airlines flight attendants become eligible for wage increases of up to 20.5% and substantial retroactive pay to compensate for the time spent negotiating.
AAL was also in the news recently due to its impending exit from the S&P 500 index. That news was covered in detail in the previous week’s write-up.
4. Alaska Air closed the deal of taking over Hawaiian Airlines after receiving clearance from the DOT. Receipt of clearance removes the final hurdle before the closure of the deal. DOT, however, stated that the airlines must maintain the value of their airline reward systems and preserve several key routes. Following the closure of the deal, Hawaiian Airlines serves as a wholly-owned subsidiary of ALK. Alaska Airhas formed an interim leadership team in Honolulu to oversee Hawaiian Airlines' operations until the two airlines are fully integrated.
Performance
The following table shows the price movement of the major airline players over the past week and during the last six months.
What’s Next in the Airline Space?
Following the closure of Alaska Air’s merger deal with Hawaiian Airlines, investors are waiting for details regarding the integration process. With buoyant air-travel demand, updates on route additions by airlines to match the demand swell cannot be ruled out.
Zacks Investment Research
American Airlines AAL received encouraging tidings on the labor front when the Association of Professional Flight Attendants or APFA announced that flight attendants of the airline have ratified a new five-year contract, increasing the value of their current agreement by $4.2 billion.
With 95% of eligible flight attendants casting their votes, 87% of American Airlines flight attendants voted in favor of the contract, which takes effect from Oct. 1, 2024. This contract represents a significant milestone for American Airlines flight attendants, delivering immediate wage increases of up to 20.5% and substantial retroactive pay to compensate for the time spent negotiating.
APFA National President Julie Hedrick said, “Among the many improvements, the contract includes a new sit rig for compensation for long sits between flights, and American Airlines Flight Attendants become the first unionized workgroup to lock in pay for boarding.”
In addition to offering industry-leading pay rates, the agreement provides wage increases for future years, addresses numerous quality-of-life issues and improves the rules for scheduling, rescheduling and reserving work.
The contract negotiations started in January 2020 but paused at the height of the pandemic and resumed in June 2021. The contract becomes amenable on Oct. 1, 2029.
With U.S. airlines grappling with the labor shortage, the bargaining power of various labor groups has increased as air travel demand is buoyant, having bounced back very strongly from the pandemic lows. As a result of the increased bargaining power, various labor deals have been witnessed in the airline space of late.
AAL’s Stock Price Performance
AAL is currently encountering several headwinds, ranging from high costs to escalated debt. As a result, the stock has declined 23.4% over the past six months compared to its industry’s 2.5% uptick.
AAL’s Zacks Rank
American Airlines currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks for investors’ consideration in the Zacks Transportation sector include C.H. Robinson Worldwide CHRW and Westinghouse Air Brake Technologies WAB.
C.H. Robinson Worldwide currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. CHRW has an expected earnings growth rate of 25.2% for the current year.
The company has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters and missed once, delivering an average surprise of 7.3%. Shares of CHRW have risen 14.2% in the past year.
WAB carries a Zacks Rank #2 (Buy) at present and has an expected earnings growth rate of 26% for the current year.
The company has a discouraging track record with respect to the earnings surprise, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters. The average beat is 11.8%. Shares of WAB have climbed 57.4% in the past year.
Zacks Investment Research
American Airlines AAL will cease to be a member of the S&P 500 from Sept. 23. After exiting the coveted index, the airline become part of the S&P MidCap 400 index. The change is part of the S&P 500 index’s quarterly adjustment process and reflects AAL’s overall loss of market capitalization over time. AAL's market capitalization, as of Sept. 16, 2024, was $7.1 billion, down drastically from around $37 billion in December 2014.
Post Sept. 23, only three airline stocks will remain in the S&P 500 index — Delta Air Lines DAL, United Airlines UAL and Southwest Airlines LUV.
The erosion of market cap over time and the subsequent exit from S&P is hardly surprising, given the disappointing price performance of AAL stock. Over the past year, AAL shares have not only declined in high-double-digits but also underperformed its industry and the three airlines mentioned above.
One-Year Price Performance
American Airlines' technical indicators suggest that further downside could be ahead. The stock has been trading below the 200-day moving average, a key technical level often used by traders to gauge momentum.
200-Day Moving Average Signals Bearish Trend
Major Headwinds That Are Hurting AAL
The northward movement in operating expenses is hurting American Airlines’ bottom line, challenging its financial stability. In the first half of 2024, total operating expenses rose 7.9% year over year to $25.5 billion. The surge in operating expenses was primarily caused by an increase in labor costs and fuel expenses. Expenses on wages and benefits rose 13.1% at the same time. As a result of the deal with pilots inked last year, labor costs are surging.
The ongoing production cuts adopted by major oil-producing nations and geopolitical tensions are pushing up fuel costs. Management expects fuel prices (including taxes) to be between $2.55 and $2.75 per gallon for the third quarter of 2024. The metric is expected to be between $2.65 per gallon and $2.75 per gallon for the full year.
We are also concerned about its high debt levels. The company’s times interest earned ratio of 1.5 at 2023-end compares unfavorably with the industry’s ratio of 4.6.
Long-Term Debt to Capitalization
Given the headwinds surrounding the stock, earnings estimates have been southbound, as shown below.
AAL’s Valuation: A Silver Lining
From a valuation perspective, AAL is trading at a discount compared to the industry, going by its forward 12-month price-to-sales ratio. The reading is also below its median over the last five years. The company has a Value Score of A.
Final Verdict
AAL’s attractive valuation is a positive. However, given the headwinds mentioned throughout the right-up, we believe that investors should not buy the stock at present. Instead, they should monitor the company’s developments closely for an appropriate entry point. For those who already own the stock, it will be prudent to stay invested. The stock’s Zacks Rank #3 (Hold) supports our thesis.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Investment Research
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