Alaska Air Group (ALK) to Release Quarterly Earnings on Thursday

Alaska Air Group (NYSE:ALK) is anticipated to announce its earnings results before the market opens on Thursday, January 23rd. Analysts expect the company to announce earnings of $0.45 per share and revenue of $3,323,470.00 billion for the quarter. Alaska Air Group has set its FY 2024 guidance at 4.000- EPS and its Q4 2024 guidance at 0.200-0.400 EPS.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.83 earnings per share. On average, analysts expect Alaska Air Group to post $4 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Alaska Air Group Price Performance

Shares of Alaska Air Group stock opened at $66.66 on Thursday. The stock has a market cap of $8.46 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 1.24 and a beta of 1.54. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. The stock has a 50 day moving average price of $59.24 and a 200-day moving average price of $46.81. Alaska Air Group has a one year low of $32.62 and a one year high of $69.10.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ALK shares. Evercore ISI cut their price objective on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, October 3rd. Barclays upped their price target on shares of Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Morgan Stanley increased their price objective on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group boosted their target price on Alaska Air Group from $70.00 to $79.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased their price target on Alaska Air Group from $58.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and fourteen 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 price target of $70.79.

Insider Buying and Selling at Alaska Air Group

In other news, CFO Shane R. Tackett sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $63.56, for a total value of $317,800.00. Following the completion of the sale, the chief financial officer now owns 27,362 shares of the company’s stock, valued at approximately $1,739,128.72. This represents a 15.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Emily Halverson sold 1,329 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $64.41, for a total transaction of $85,600.89. Following the transaction, the vice president now owns 7,150 shares in the company, valued at approximately $460,531.50. This represents a 15.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,473 shares of company stock valued at $2,198,342 in the last ninety days. Corporate insiders own 0.68% of the company’s stock.

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.