Seaport Res Ptn Has Strong Estimate for Azul FY2024 Earnings

Azul S.A. (NYSE:AZUL) – Seaport Res Ptn increased their FY2024 earnings estimates for shares of Azul in a note issued to investors on Wednesday, December 4th. Seaport Res Ptn analyst D. Mckenzie now forecasts that the company will earn ($1.32) per share for the year, up from their prior forecast of ($1.66). Seaport Res Ptn currently has a “Hold” rating on the stock. The consensus estimate for Azul’s current full-year earnings is ($1.72) per share. Seaport Res Ptn also issued estimates for Azul’s Q4 2024 earnings at $0.12 EPS, FY2025 earnings at $0.32 EPS and FY2026 earnings at $0.70 EPS.

Other analysts also recently issued research reports about the stock. HSBC downgraded shares of Azul from a “buy” rating to a “hold” rating and set a $2.70 price target for the company. in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Azul from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Barclays dropped their price target on shares of Azul from $10.00 to $4.50 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. The Goldman Sachs Group downgraded Azul from a “buy” rating to a “neutral” rating and cut their price target for the company from $6.70 to $4.00 in a research note on Monday, September 23rd. Finally, Hsbc Global Res raised Azul to a “hold” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.59.

Azul Stock Performance

Shares of Azul stock opened at $2.21 on Monday. Azul has a 52 week low of $2.02 and a 52 week high of $10.62. The stock has a 50 day moving average price of $2.86 and a two-hundred day moving average price of $3.68. The stock has a market capitalization of $931.67 million, a PE ratio of -0.31 and a beta of 1.92.

Hedge Funds Weigh In On Azul

A number of hedge funds and other institutional investors have recently modified their holdings of AZUL. Creative Planning bought a new stake in shares of Azul during the 3rd quarter worth $35,000. Signaturefd LLC boosted its stake in Azul by 35.9% in 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 during the last quarter. Ground Swell Capital LLC purchased a new position in Azul in the third quarter valued at about $44,000. Sanctuary Advisors LLC purchased a new position in Azul in the second quarter valued at about $51,000. Finally, Inspire Advisors LLC increased its stake in shares of Azul by 20.1% during the 2nd quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock worth $90,000 after purchasing an additional 3,764 shares during the last quarter. Hedge funds and other institutional investors own 0.82% of the company’s stock.

About Azul

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.