$1.51 Billion in Sales Expected for Alaska Air Group, Inc. (NYSE:ALK) This Quarter


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Equities analysts expect Alaska Air Group, Inc. (NYSE:ALK) to report sales of $1.51 billion for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Alaska Air Group’s earnings. The lowest sales estimate is $1.49 billion and the highest is $1.52 billion. Alaska Air Group posted sales of $421.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 258.7%. The firm is expected to report its next quarterly earnings results on Thursday, July 22nd.

According to Zacks, analysts expect that Alaska Air Group will report full year sales of $5.95 billion for the current year, with estimates ranging from $5.59 billion to $6.26 billion. For the next financial year, analysts forecast that the company will post sales of $8.05 billion, with estimates ranging from $7.48 billion to $8.46 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Alaska Air Group.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Wednesday, April 21st. The transportation company reported ($3.51) EPS for the quarter, beating the consensus estimate of ($3.63) by $0.12. Alaska Air Group had a negative return on equity of 19.39% and a negative net margin of 13.96%. The business had revenue of $797.00 million during the quarter, compared to the consensus estimate of $786.52 million. During the same period in the prior year, the business posted ($0.82) earnings per share. Alaska Air Group’s revenue was down 51.3% compared to the same quarter last year.

A number of brokerages have recently commented on ALK. Zacks Investment Research lowered Alaska Air Group from a “hold” rating to a “sell” rating and set a $75.00 price objective on the stock. in a report on Monday, March 22nd. JPMorgan Chase & Co. upped their price target on Alaska Air Group from $65.00 to $104.00 and gave the company an “overweight” rating in a report on Tuesday, April 20th. The Goldman Sachs Group lifted their target price on shares of Alaska Air Group from $64.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, March 22nd. Deutsche Bank Aktiengesellschaft upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Monday, March 1st. Finally, Raymond James upped their target price on shares of Alaska Air Group from $65.00 to $85.00 and gave the stock a “strong-buy” rating in a research report on Monday, April 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $70.54.

In related news, CFO Shane R. Tackett sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, March 9th. The shares were sold at an average price of $67.22, for a total transaction of $201,660.00. Following the completion of the sale, the chief financial officer now owns 7,862 shares in the company, valued at $528,483.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Bradley D. Tilden sold 4,200 shares of Alaska Air Group stock in a transaction that occurred on Friday, April 30th. The stock was sold at an average price of $69.42, for a total transaction of $291,564.00. Following the completion of the sale, the chairman now directly owns 147,793 shares in the company, valued at approximately $10,259,790.06. The disclosure for this sale can be found here. Insiders have sold a total of 96,221 shares of company stock worth $6,476,419 over the last 90 days. Company insiders own 0.47% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in Alaska Air Group by 11.8% in the 4th quarter. BlackRock Inc. now owns 9,247,416 shares of the transportation company’s stock worth $480,866,000 after purchasing an additional 973,591 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Alaska Air Group by 29.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,163,490 shares of the transportation company’s stock worth $476,501,000 after buying an additional 2,082,579 shares in the last quarter. Victory Capital Management Inc. raised its position in Alaska Air Group by 60.4% in the 1st quarter. Victory Capital Management Inc. now owns 5,154,733 shares of the transportation company’s stock worth $356,759,000 after purchasing an additional 1,941,436 shares during the period. Boston Partners lifted its stake in shares of Alaska Air Group by 2,155.9% in the 4th quarter. Boston Partners now owns 2,659,490 shares of the transportation company’s stock valued at $138,294,000 after acquiring an additional 2,541,602 shares during the last quarter. Finally, U S Global Investors Inc. boosted its stake in shares of Alaska Air Group by 1.7% during the first quarter. U S Global Investors Inc. now owns 2,412,220 shares of the transportation company’s stock valued at $166,950,000 after purchasing an additional 41,114 shares during the period. Institutional investors own 73.10% of the company’s stock.

Shares of Alaska Air Group stock traded down $2.13 on Thursday, hitting $66.56. 1,887,031 shares of the company traded hands, compared to its average volume of 1,807,227. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.77. Alaska Air Group has a 12-month low of $23.39 and a 12-month high of $74.25. The company has a 50-day moving average price of $69.67 and a 200 day moving average price of $56.20. The company has a market cap of $8.28 billion, a PE ratio of -12.20 and a beta of 1.81.

About Alaska Air Group

Alaska Air Group, Inc is a holding company, which engages in the provision of air transportation services. It operates through the following segments: Mainline, Regional and Horizon. The Mainline segment includes Alaska’s Boeing or Airbus jet aircraft for passengers and cargo throughout the U.S., and in parts of Canada, Mexico, and Costa Rica.

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