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Azul S.A. (NYSE: AZUL) Declined -0.78%, What’s Next? Don’t Panic

Azul S.A. (NYSE:AZUL) shares, rose in value on Wednesday, 05/24/23, with the stock price down by -0.78% to the previous day’s close as strong demand from buyers drove the stock to $8.88.

Actively observing the price movement in the last trading, the stock closed the session at $8.95, falling within a range of $8.59 and $9.07. The value of beta (5-year monthly) was 1.62. Referring to stock’s 52-week performance, its high was $13.59, and the low was $3.82. On the whole, AZUL has fluctuated by 45.81% over the past month.

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As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.49, which is expected to increase to $0.18 for fiscal year -$0.88 and then to about $0.75 by fiscal year 2024. Data indicates that the EPS growth is expected to be 76.30% in 2024, while the next year’s EPS growth is forecast to be 185.20%.

Analysts have estimated the company’s revenue for the quarter at $876.18 million, with a low estimate of $849.12 million and a high estimate of $919.55 million. According to the average forecast, sales growth in current quarter could jump up 9.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $3.84 billion, representing an increase of 24.40% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that AZUL’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of AZUL currently trading nearly 19.61% and 25.44% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 66.11, while the 7-day volatility ratio is showing 6.03% which for the 30-day chart, stands at 7.15%. Furthermore, Azul S.A. (AZUL)’s beta value is 1.36, and its average true range (ATR) is 0.56. The company’s stock has been forecasted to trade at an average price of $65.36 over the course of the next 52 weeks, with a low of $39.27 and a high of $141.00. Based on these price targets, the low is -342.23% off current price, whereas the price has to move -1487.84% to reach the yearly target high. Additionally, analysts’ median price of $54.74 is likely to be welcomed by investors because it represents a decrease of -516.44% from the current levels.

A comparison of Azul S.A. (AZUL) with its peers suggests the former has fared considerably weaker in the market. AZUL showed an intraday change of -0.78% in last session, and over the past year, it shrunk by -35.56%%. In comparison, American Airlines Group Inc. (AAL) has moved lower at -1.92% on the day and was down -17.61% over the past 12 months. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.73%. Meanwhile, the Dow Jones Industrial Slipped by -0.77%.

Data on historical trading for Azul S.A. (NYSE:AZUL) indicates that the trading volumes over the past 10 days have averaged 3.41 million and over the past 3 months, they’ve averaged 3.73 million. According to company’s latest data on outstanding shares, there are 120.02 million shares outstanding.

Azul S.A.’s shares belong to company insiders and institutional investors own 32.80% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 6.54 million shares as on Apr 27, 2023, resulting in a short ratio of 3.03. According to the data, the short interest in Azul S.A. (AZUL) stood at 5.65% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 8.61 million. The stock has risen by 45.34% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the AZUL stock heading into the next quarter.

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