United Airlines (UAL) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, United Airlines (UAL) closed at $32.53, marking a -0.06% move from the previous day. This change lagged the S&P 500's 0.78% gain on the day. Meanwhile, the Dow gained 0.68%, and the Nasdaq, a tech-heavy index, added 1.44%.
Prior to today's trading, shares of the airline had lost 27.08% over the past month. This has lagged the Transportation sector's loss of 1.6% and the S&P 500's loss of 1.32% in that time.
Wall Street will be looking for positivity from UAL as it approaches its next earnings report date. This is expected to be July 21, 2020. On that day, UAL is projected to report earnings of -$9.41 per share, which would represent a year-over-year decline of 323.52%. Meanwhile, our latest consensus estimate is calling for revenue of $1.21 billion, down 89.39% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$20.82 per share and revenue of $18.68 billion, which would represent changes of -272.78% and -56.82%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for UAL. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.37% lower. UAL is currently a Zacks Rank #3 (Hold).
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 216, which puts it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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