Alaska Air Group (NYSE:ALK) Updates Q3 Earnings Guidance

Alaska Air Group (NYSE:ALK) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.15-2.25 for the period, compared to the consensus estimate of $1.61.

Alaska Air Group Price Performance

Shares of NYSE ALK opened at $40.75 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 0.70 and a beta of 1.59. Alaska Air Group has a twelve month low of $30.75 and a twelve month high of $46.15. The business has a 50 day simple moving average of $36.82 and a 200-day simple moving average of $39.76.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.19. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the prior year, the company earned $3.00 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts expect that Alaska Air Group will post 4.06 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Morgan Stanley dropped their target price on Alaska Air Group from $75.00 to $70.00 and set an overweight rating on the stock in a research report on Monday, July 22nd. TD Cowen dropped their price target on shares of Alaska Air Group from $58.00 to $51.00 and set a buy rating on the stock in a research note on Wednesday, July 24th. Citigroup cut their price objective on shares of Alaska Air Group from $51.00 to $48.00 and set a buy rating on the stock in a research note on Thursday, August 29th. Wolfe Research upgraded shares of Alaska Air Group from a peer perform rating to an outperform rating and set a $55.00 target price for the company in a research report on Friday, May 17th. Finally, Susquehanna lowered their target price on shares of Alaska Air Group from $42.00 to $41.00 and set a neutral rating on the stock in a research note on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Alaska Air Group has a consensus rating of Moderate Buy and an average price target of $54.00.

About Alaska Air Group

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.