Azul SA (NYSE:AZUL) Expected to Announce Quarterly Sales of $651.02 Million

Wall Street analysts forecast that Azul SA (NYSE:AZUL) will announce sales of $651.02 million for the current quarter, Zacks reports. Two analysts have issued estimates for Azul’s earnings. The lowest sales estimate is $642.05 million and the highest is $659.99 million. Azul reported sales of $562.39 million during the same quarter last year, which indicates a positive year-over-year growth rate of 15.8%. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 8th.

According to Zacks, analysts expect that Azul will report full-year sales of $2.95 billion for the current fiscal year, with estimates ranging from $2.91 billion to $2.97 billion. For the next fiscal year, analysts forecast that the firm will post sales of $3.56 billion, with estimates ranging from $3.35 billion to $3.70 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Azul.

Azul (NYSE:AZUL) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.06. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.57 billion. Azul had a net margin of 3.59% and a return on equity of 15.84%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS.

AZUL has been the subject of a number of analyst reports. Buckingham Research raised their price objective on shares of Azul from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Zacks Investment Research downgraded shares of Azul from a “buy” rating to a “hold” rating in a report on Monday, April 22nd. UBS Group downgraded shares of Azul from a “neutral” rating to a “sell” rating in a report on Tuesday, June 18th. Finally, ValuEngine raised shares of Azul from a “hold” rating to a “buy” rating in a report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.02.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. bought a new position in shares of Azul in the fourth quarter worth about $258,000. Norges Bank bought a new position in shares of Azul in the fourth quarter worth about $36,801,000. Morgan Stanley raised its stake in shares of Azul by 67.9% in the third quarter. Morgan Stanley now owns 170,081 shares of the company’s stock worth $3,026,000 after acquiring an additional 68,790 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Azul by 31.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,114 shares of the company’s stock worth $3,935,000 after acquiring an additional 34,300 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. acquired a new stake in shares of Azul during the 4th quarter worth approximately $13,872,000. 6.87% of the stock is owned by institutional investors.

Shares of NYSE:AZUL traded down $0.02 during midday trading on Friday, reaching $32.96. 615,628 shares of the company’s stock were exchanged, compared to its average volume of 567,917. The business has a 50 day moving average price of $30.06. The stock has a market cap of $10.71 billion, a price-to-earnings ratio of 20.74 and a beta of -0.90. Azul has a 12 month low of $15.53 and a 12 month high of $36.08. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.69 and a quick ratio of 0.65.

Azul Company Profile

Azul SA provides passenger and cargo air transportation services in Brazil. As of March 31, 2018, it operated 739 daily flights to 106 destinations through a network of 206 non-stop routes with a fleet of 120 aircraft. The company was incorporated in 2008 and is headquartered in Barueri, Brazil.

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