1 The UAL stock price is showing a bullish outlook as United Airlines has recently reported its Q2 result. 2 Since the beginning of this week, United Airlines stock price has experienced bulls dominance. Ahead of its second quarter (Q2) 2023 earnings and revenue report, United Ai...
- 1 The UAL stock price is showing a bullish outlook as United Airlines has recently reported its Q2 result.
- 2 Since the beginning of this week, United Airlines stock price has experienced bulls dominance.
Ahead of its second quarter (Q2) 2023 earnings and revenue report, United Airlines (UAL) stock showed bears activity in its price, due to which, the UAL stock price dropped below its 20-day moving average. Although, after its Q2 2023 report, United Airlines stock price attracted bulls who drove its price upside with potential support. Notably, with the bulls support, UAL share price finally marked its 52-week high on its most recent trading session.
UAL Stock Price Analysis
United Airlines (UAL) stock price reached its 52-week high at $57.56 on July 20, 2023, yesterday’s trading session. The stock opened at $55.83 and closed at $56.57, with an over 3% intraday price gain. The recent 1-month price performance showed a 7.14% surge which further showed an over 48% year-to-date growth.
According to TradingView, a web-based social network for traders, United Airlines stock surpassed its 20-day moving average. It has driven its price near to its overbought zone with potential bulls’ strength. With positive earnings and revenue reports, the UAL stock is expected to trade bullish this week, which may later show an increased bears activity.
The 1-year price target set by the analysts is showing at $69.17, up more than 22% from the recent closing of the UAL stock. The maximum price estimate set by the analysts is $86.00 while the minimum estimate is $50.00. Notably, in the past 3-months, analysts have already given their “buy” rating to United Airlines Holdings Inc.
The Fundamentals of United Airlines
United Airlines Holdings Inc. (NASDAQ: UAL), a publicly traded airline holding company, has a market cap of nearly $18.55 Billion. The net income reported by the company in Q1 2023 is negative $194.00 Million and UAL price-to-sales ratio is 0.37. United Airlines Holdings has an Enterprise Value to EBITDA ratio of 5.97.
According to its Q1 2023 earnings and revenue report, UAL earnings per share for the last quarter is $5.03 whereas the estimation was $4.03, which accounts for a 24.92% surprise. The revenue for the same period amounts to $14.18 Billion, despite the estimated figure of $13.90 Billion. For the upcoming Q2 2023, the estimated EPS is $3.79, and revenue is expected to reach $14.11 Billion.
Last but not the least, most airline industry stocks have shown bullish sentiments in the last 1-month. Besides UAL stock, SkyWest Inc. (NASDAQ: SKYW), Spirit Airlines Inc. (NYSE: SAVE), Southwest Airlines Co. (NYSE: LUV), Hawaiian Holdings Inc. (NASDAQ: HA), Delta Air Lines Inc. (NYSE: DAL), and Copa Holdings S.A. (NYSE: CPA) have shown an over 7% price growth.
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