Seaport Res Ptn Issues Optimistic Forecast for Azul Earnings

Azul S.A. (NYSE:AZUL) – Equities research analysts at Seaport Res Ptn lifted their FY2024 earnings per share (EPS) estimates for Azul in a note issued to investors on Wednesday, December 4th. Seaport Res Ptn analyst D. Mckenzie now forecasts that the company will post earnings per share of ($1.32) for the year, up from their previous forecast of ($1.66). Seaport Res Ptn has a “Hold” rating on the stock. The consensus estimate for Azul’s current full-year earnings is ($1.63) 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.

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

Azul Stock Performance

Azul stock opened at $2.20 on Monday. Azul has a 1 year low of $2.02 and a 1 year high of $10.62. The firm’s 50-day moving average is $2.84 and its 200-day moving average is $3.66. The company has a market cap of $927.46 million, a P/E ratio of -0.31 and a beta of 1.92.

Hedge Funds Weigh In On Azul

Large investors have recently bought and sold shares of the stock. SPX Gestao de Recursos Ltda increased its position in shares of Azul by 13,831.7% during the 2nd quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock valued at $1,170,000 after purchasing an additional 290,465 shares during the period. Long Focus Capital Management LLC grew its holdings in Azul by 106.3% during the second quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock worth $17,816,000 after acquiring an additional 2,295,000 shares during the period. Marshall Wace LLP raised its position in Azul by 2,466.5% in the second quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock worth $2,395,000 after acquiring an additional 575,344 shares in the last quarter. Creative Planning acquired a new stake in Azul in the 3rd quarter valued at about $35,000. Finally, Perpetual Ltd boosted its position in shares of Azul by 4.5% during the 3rd quarter. Perpetual Ltd now owns 2,354,953 shares of the company’s stock valued at $8,101,000 after purchasing an additional 100,639 shares in the last quarter. Institutional investors and hedge funds 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.