Q3 2024 EPS Estimates for Azul S.A. (NYSE:AZUL) Cut by Analyst

Azul S.A. (NYSE:AZUL) – Investment analysts at Seaport Res Ptn dropped their Q3 2024 earnings estimates for shares of Azul in a report released on Thursday, October 10th. Seaport Res Ptn analyst D. Mckenzie now expects that the company will earn ($0.55) per share for the quarter, down from their prior forecast of ($0.05). Seaport Res Ptn 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.

A number of other brokerages also recently weighed in on AZUL. Deutsche Bank Aktiengesellschaft dropped 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. The Goldman Sachs Group lowered shares of Azul from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $6.70 to $4.00 in a research report on Monday, September 23rd. Hsbc Global Res raised shares of Azul to a “hold” rating in a research report on Thursday, September 5th. HSBC downgraded shares of Azul from a “buy” rating to a “hold” rating and set a $2.70 price target on the stock. in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. downgraded shares of Azul from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Azul presently has a consensus rating of “Hold” and a consensus price target of $6.59.

Azul Stock Performance

Shares of Azul stock opened at $3.24 on Monday. Azul has a twelve month low of $2.02 and a twelve month high of $11.26. The firm has a market cap of $1.37 billion, a P/E ratio of -1.33 and a beta of 1.98. The firm’s 50-day simple moving average is $3.34 and its 200-day simple moving average is $4.74.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning purchased a new stake in Azul in the third quarter worth $35,000. Signaturefd LLC boosted its stake in shares of Azul by 35.9% during the 2nd quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock worth $43,000 after acquiring an additional 2,812 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Azul during the 2nd quarter worth $51,000. Inspire Advisors LLC boosted 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 acquiring an additional 3,764 shares during the last quarter. Finally, Coronation Fund Managers Ltd. raised its position in shares of Azul by 9.5% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 27,341 shares of the company’s stock valued at $109,000 after purchasing an additional 2,380 shares during the period. 0.82% of the stock is currently owned by 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.