Alaska Air Group (NYSE:ALK) Releases FY24 Earnings Guidance

Alaska Air Group (NYSE:ALK) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.25-5.25 for the period, compared to the consensus estimate of $4.36. Alaska Air Group also updated its FY 2024 guidance to 3.250-5.250 EPS.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com cut shares of Alaska Air Group from a hold rating to a sell rating in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft raised shares of Alaska Air Group from a hold rating to a buy rating and lifted their target price for the company from $44.00 to $51.00 in a report on Tuesday, February 20th. Susquehanna cut shares of Alaska Air Group from a positive rating to a neutral rating and lifted their target price for the company from $39.00 to $40.00 in a report on Wednesday, January 10th. Evercore ISI lifted their target price on shares of Alaska Air Group from $55.00 to $65.00 and gave the company an outperform rating in a report on Thursday, April 4th. Finally, UBS Group assumed coverage on shares of Alaska Air Group in a report on Wednesday, March 20th. They issued a buy rating and a $54.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Alaska Air Group has a consensus rating of Moderate Buy and a consensus target price of $57.44.

Alaska Air Group Stock Performance

Shares of ALK opened at $44.20 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.58 and a current ratio of 0.61. The stock has a market capitalization of $5.56 billion, a P/E ratio of 23.60, a P/E/G ratio of 0.82 and a beta of 1.63. The company’s fifty day moving average is $39.36 and its two-hundred day moving average is $37.12. Alaska Air Group has a 1 year low of $30.75 and a 1 year high of $57.18.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, April 18th. The transportation company reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.07). The firm 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 2.25% and a return on equity of 14.72%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.62) earnings per share. On average, sell-side analysts predict that Alaska Air Group will post 4.41 earnings per share for the current year.

Insiders Place Their Bets

In other Alaska Air Group news, EVP Andrew R. Harrison sold 6,500 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $38.36, for a total transaction of $249,340.00. Following the sale, the executive vice president now directly owns 26,048 shares in the company, valued at approximately $999,201.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Alaska Air Group

Several institutional investors have recently made changes to their positions in ALK. Covestor Ltd boosted its position in shares of Alaska Air Group by 416.4% during the 1st quarter. Covestor Ltd now owns 568 shares of the transportation company’s stock worth $33,000 after purchasing an additional 458 shares in the last quarter. CENTRAL TRUST Co boosted its position in shares of Alaska Air Group by 19.5% during the 3rd quarter. CENTRAL TRUST Co now owns 2,141 shares of the transportation company’s stock worth $84,000 after purchasing an additional 350 shares in the last quarter. McIlrath & Eck LLC boosted its position in shares of Alaska Air Group by 12.2% during the 4th quarter. McIlrath & Eck LLC now owns 2,149 shares of the transportation company’s stock worth $92,000 after purchasing an additional 234 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of Alaska Air Group by 54.1% during the 4th quarter. Advisory Services Network LLC now owns 2,452 shares of the transportation company’s stock worth $96,000 after purchasing an additional 861 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Alaska Air Group by 19.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,811 shares of the transportation company’s stock worth $105,000 after buying an additional 300 shares in the last quarter. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Alaska Air Group Company Profile

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.