Azul S.A. (NYSE:AZUL) has recently received a “Hold” rating from six research firms, as reported by Bloomberg Ratings on September 8, 2023. Out of these six firms, five have recommended holding onto the stock, while one has issued a buy recommendation. Brokers who have covered the stock in the past year suggest an average target price of $12.70 within a one-year timeframe.
On Friday, shares of AZUL opened at $8.06 on the New York Stock Exchange (NYSE). The company currently holds a market capitalization of $3.40 billion and has a price-to-earnings ratio of -4.85 with a beta value of 1.48. The firm’s 50-day simple moving average stands at $10.53, while its 200-day simple moving average is $8.95. Over the past year, Azul’s stock has seen a low of $3.82 and a high of $13.86.
Azul SA is primarily engaged in providing scheduled air transportation services within Brazil along with its subsidiaries. As of December 31, 2022, the company operated approximately 1,000 daily departures to 158 destinations through a network comprising 300 non-stop routes. To facilitate its operations, Azul maintains an operating fleet consisting of 177 aircraft and also possesses a passenger contractual fleet comprising 194 aircraft.
In its most recent financial report released on August 10th, Azul (NYSE:AZUL) revealed an earnings per share (EPS) figure for the quarter that missed analysts’ estimations by ($0.11), reporting ($0.81) EPS instead of the expected ($0.70). Despite this shortfall in earnings, the company achieved revenue amounting to $862.66 million for the quarter compared to analyst estimates amounting to $908.32 million.
Taking into account the assessments made by analysts, it is projected that Azul will post -1.93 EPS for the current year, indicating potential challenges ahead. However, investors should be aware that ratings and estimates are subject to change as new information emerges or market conditions fluctuate.
Updated on: 07/12/2023
Debt to equity ratio: Sell
Price to earnings ratio: Buy
Price to book ratio: Neutral
DCF: Strong Buy
7:00 PM (UTC)
Date:07 December, 2023
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Positive Analyst Ratings and Investment Activities Propel Azul’s Stock Prospects
On September 8, 2023, a series of reports from equities analysts were released highlighting the performance and prospects of Azul, a prominent company in the stock market. These reports provide valuable insights for investors who are considering investing in this particular stock.
One such report came from Barclays, which upgraded Azul’s rating from “underweight” to “equal weight” and also raised their price target for the company from $8.00 to $14.00. This implies that Barclays perceives Azul as having reached a more favorable position within its industry and expects its stock price to increase further.
Similarly, The Goldman Sachs Group increased its price objective on Azul shares from $14.10 to $14.90 while maintaining a “neutral” rating on the stock. The fact that Goldman Sachs views Azul as being fairly valued suggests that they believe there is limited potential for significant gains or losses in the short term.
Bank of America also released a positive report on Azul, upgrading its rating from “underperform” to “neutral” and raising their price objective for the stock from $6.90 to $11.00. This indicates that Bank of America believes Azul has improved its performance enough to warrant consideration as a neutral investment option.
Lastly, Raymond James raised their price objective on Azul shares from $14.00 to $15.00 and gave the stock an “outperform” rating in their research report. This optimistic outlook suggests that Raymond James expects significant growth potential for the company in the near future.
Moving beyond analyst reports, it is worth noting that hedge funds and institutional investors have both added to and reduced their stakes in Azul recently. Capital Research Global Investors increased its stake in Azul shares by 3% during the first quarter of this year. Frontier Capital Management Co., LLC also significantly lifted its stake by 63.6% during the second quarter.
Furthermore, Oaktree Capital Management LP increased its holdings by 14.4% during the fourth quarter, Perpetual Ltd raised its holdings by 19.3% during the second quarter, and Russell Investments Group Ltd. increased its holdings by 38.2% during the first quarter. These actions indicate that institutional investors see potential in Azul and are actively adjusting their investments accordingly.
In conclusion, Azul has received positive ratings from various equities analysts, with Barclays, Goldman Sachs, Bank of America, and Raymond James all providing favorable outlooks for the company. Additionally, hedge funds and institutional investors have been both increasing and reducing their stakes in Azul stock. These reports and investment activities offer valuable information for potential investors to consider when evaluating their investment decisions moving forward.