Analysts Set Expectations for Alaska Air Group, Inc.’s Q3 2024 Earnings (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALK) – Stock analysts at Zacks Research upped their Q3 2024 earnings per share estimates for shares of Alaska Air Group in a research report issued to clients and investors on Wednesday, September 25th. Zacks Research analyst M. Basu now anticipates that the transportation company will earn $2.20 per share for the quarter, up from their prior estimate of $2.17. The consensus estimate for Alaska Air Group’s current full-year earnings is $4.62 per share. Zacks Research also issued estimates for Alaska Air Group’s FY2024 earnings at $4.76 EPS, Q2 2025 earnings at $2.49 EPS and Q4 2025 earnings at $1.55 EPS.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley reduced their price objective on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Bank of America boosted their target price on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Citigroup lowered their price target on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. TD Cowen boosted their price objective on shares of Alaska Air Group from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, Susquehanna lowered their target price on shares of Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating for the company in a report 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.00.

Alaska Air Group Stock Up 1.3 %

Shares of NYSE ALK opened at $45.01 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. Alaska Air Group has a 12-month low of $30.75 and a 12-month high of $46.15. The firm’s 50-day moving average price is $37.56 and its 200-day moving average price is $40.09. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of 24.07, a P/E/G ratio of 0.54 and a beta of 1.59.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $2.94 billion. During the same quarter in the prior year, the firm earned $3.00 earnings per share. Alaska Air Group’s revenue was up 2.1% on a year-over-year basis.

Institutional Investors Weigh In On Alaska Air Group

Large investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd purchased a new position in shares of Alaska Air Group during the second quarter worth approximately $28,000. LifeSteps Financial Inc. purchased a new stake in shares of Alaska Air Group in the first quarter valued at approximately $65,000. Parallel Advisors LLC grew its stake in Alaska Air Group by 28.4% in the fourth quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock worth $66,000 after purchasing an additional 373 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Alaska Air Group during the 2nd quarter worth $69,000. Finally, Halpern Financial Inc. bought a new stake in Alaska Air Group during the 2nd quarter valued at $81,000. 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.