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

Alaska Air Group, Inc. (NYSE:ALK) – Investment analysts at Seaport Res Ptn lifted their Q3 2024 EPS estimates for shares of Alaska Air Group in a report issued on Monday, June 24th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the transportation company will post earnings of $2.25 per share for the quarter, up from their previous estimate of $2.20. The consensus estimate for Alaska Air Group’s current full-year earnings is $4.71 per share.

Several other equities analysts have also recently weighed in on ALK. Bank of America raised their price objective on Alaska Air Group from $50.00 to $56.00 and gave the company a “buy” rating in a report on Friday, April 19th. TD Cowen raised their target price on shares of Alaska Air Group from $49.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Wolfe Research upgraded shares of Alaska Air Group from a “peer perform” rating to an “outperform” rating and set a $55.00 price target for the company in a research note on Friday, May 17th. Evercore ISI boosted their price objective on shares of Alaska Air Group from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, StockNews.com upgraded Alaska Air Group from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.60.

Alaska Air Group Stock Performance

Shares of ALK stock opened at $40.68 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.65 and a debt-to-equity ratio of 0.57. Alaska Air Group has a 12 month low of $30.75 and a 12 month high of $57.18. The company’s fifty day simple moving average is $42.58 and its 200-day simple moving average is $39.88. The firm has a market cap of $5.16 billion, a PE ratio of 21.75, a P/E/G ratio of 0.54 and a beta of 1.61.

Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, April 18th. The transportation company reported ($0.92) EPS for the quarter, beating the consensus estimate of ($1.09) by $0.17. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Alaska Air Group had a return on equity of 13.54% and a net margin of 2.34%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.62) EPS.

Institutional Investors Weigh In On Alaska Air Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV lifted its stake in Alaska Air Group by 215.8% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 761 shares of the transportation company’s stock worth $30,000 after purchasing an additional 520 shares during the last quarter. Creative Financial Designs Inc. ADV raised its stake in Alaska Air Group by 255.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 775 shares of the transportation company’s stock worth $30,000 after acquiring an additional 557 shares in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in shares of Alaska Air Group by 456.1% in the third quarter. Itau Unibanco Holding S.A. now owns 912 shares of the transportation company’s stock worth $34,000 after acquiring an additional 748 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Alaska Air Group during the 4th quarter valued at approximately $39,000. Finally, LifeSteps Financial Inc. bought a new position in Alaska Air Group in the 1st quarter valued at approximately $65,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

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.