Alaska Air Group (NYSE:ALK) Issues FY 2024 Earnings Guidance

Alaska Air Group (NYSE:ALK) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.250-5.250 for the period, compared to the consensus EPS estimate of 4.360. The company issued revenue guidance of -. Alaska Air Group also updated its FY24 guidance to $3.25-5.25 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Evercore ISI boosted their price target on Alaska Air Group from $55.00 to $65.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Melius lowered Alaska Air Group from a buy rating to a hold rating in a research note on Monday, January 8th. StockNews.com downgraded Alaska Air Group from a hold rating to a sell rating in a research report on Tuesday, April 9th. Bank of America lifted their price objective on Alaska Air Group from $50.00 to $56.00 and gave the stock a buy rating in a research report on Friday. Finally, Susquehanna downgraded Alaska Air Group from a positive rating to a neutral rating and lifted their price objective for the stock from $39.00 to $40.00 in a research report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $57.69.

Alaska Air Group Trading Up 4.0 %

Shares of ALK opened at $44.45 on Friday. The stock has a fifty day moving average of $39.52 and a two-hundred day moving average of $37.17. 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 company has a market capitalization of $5.59 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 0.86 and a beta of 1.63. Alaska Air Group has a fifty-two week low of $30.75 and a fifty-two week 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, beating the consensus estimate of ($1.09) by $0.17. Alaska Air Group had a net margin of 2.25% and a return on equity of 14.72%. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the previous year, the company earned ($0.62) EPS. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, analysts forecast that Alaska Air Group will post 4.41 EPS for the current year.

Insider Activity

In other 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 completion of the sale, the executive vice president now directly owns 26,048 shares of the company’s stock, valued at approximately $999,201.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.68% of the company’s stock.

Institutional Trading of Alaska Air Group

Institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd boosted its position in 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 during the period. Geneos Wealth Management Inc. boosted its position in Alaska Air Group by 19.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,811 shares of the transportation company’s stock worth $105,000 after purchasing an additional 300 shares during the period. CENTRAL TRUST Co boosted its position in 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 during the period. McIlrath & Eck LLC boosted its position in 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 during the period. Finally, Advisory Services Network LLC boosted its position in 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 during the period. 81.90% of the stock is 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.