Alaska Air Group (NYSE:ALK) Issues Q2 Earnings Guidance

Alaska Air Group (NYSE:ALKGet Free Report) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $2.20-3.20 for the period, compared to the consensus EPS estimate of $2.12. Alaska Air Group also updated its FY 2024 guidance to 3.250-5.250 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. StockNews.com raised shares of Alaska Air Group from a sell rating to a hold rating in a research report on Friday. Melius lowered shares of Alaska Air Group from a buy rating to a hold rating in a report on Monday, January 8th. Evercore ISI increased their target price on shares of Alaska Air Group from $55.00 to $65.00 and gave the stock an outperform rating in a report on Thursday, April 4th. Susquehanna increased their target price on shares of Alaska Air Group from $40.00 to $42.00 and gave the stock a neutral rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft raised shares of Alaska Air Group from a hold rating to a buy rating and increased their target price for the stock from $44.00 to $51.00 in a report on Tuesday, February 20th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $57.85.

View Our Latest Stock Report on Alaska Air Group

Alaska Air Group Trading Up 1.3 %

Shares of ALK opened at $45.02 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.65 and a quick ratio of 0.58. Alaska Air Group has a 1 year low of $30.75 and a 1 year high of $57.18. The company has a 50 day simple moving average of $39.68 and a two-hundred day simple moving average of $37.22. The firm has a market cap of $5.66 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 0.89 and a beta of 1.63.

Alaska Air Group (NYSE:ALKGet Free Report) last announced its quarterly earnings data on Thursday, April 18th. The transportation company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.17. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.18 billion. Alaska Air Group had a net margin of 2.34% and a return on equity of 13.54%. The company’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm posted ($0.62) EPS. On average, equities analysts expect that Alaska Air Group will post 4.41 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Andrew R. Harrison sold 6,500 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total transaction of $249,340.00. Following the completion of the transaction, the executive vice president now directly owns 26,048 shares in the company, valued at approximately $999,201.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Institutional Trading of Alaska Air Group

A number of institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its position in Alaska Air Group by 24.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 397,028 shares of the transportation company’s stock worth $15,512,000 after buying an additional 78,670 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Alaska Air Group by 5.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,906 shares of the transportation company’s stock worth $270,000 after buying an additional 333 shares during the last quarter. Employees Retirement System of Texas lifted its position in Alaska Air Group by 26.2% in the fourth quarter. Employees Retirement System of Texas now owns 94,070 shares of the transportation company’s stock worth $3,675,000 after buying an additional 19,550 shares during the last quarter. Impala Asset Management LLC bought a new stake in Alaska Air Group in the fourth quarter worth $1,172,000. Finally, NFJ Investment Group LLC bought a new stake in Alaska Air Group in the fourth quarter worth $12,674,000. 81.90% of the stock is currently owned by institutional investors.

Alaska Air Group Company Profile

(Get Free Report)

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.

Further Reading

Earnings History and Estimates for Alaska Air Group (NYSE:ALK)

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