Alaska Air Group, Inc. Expected to Earn Q3 2024 Earnings of $2.20 Per Share (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALK) – Research analysts at Zacks Research increased their Q3 2024 earnings per share (EPS) estimates for Alaska Air Group in a note issued to investors on Wednesday, September 25th. Zacks Research analyst M. Basu now anticipates that the transportation company will post earnings of $2.20 per share for the quarter, up from their previous forecast 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.

A number of other research firms also recently commented on ALK. Bank of America lifted their target price on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Morgan Stanley cut their price objective on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. TD Cowen increased their target price on Alaska Air Group from $51.00 to $52.00 and gave the company a “buy” rating in a report on Friday, September 13th. Citigroup cut their price target on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Susquehanna lowered their price objective on shares of Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Alaska Air Group Stock Performance

Shares of ALK stock opened at $45.01 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average price of $37.56 and a 200-day moving average price of $40.09. Alaska Air Group has a 52 week low of $30.75 and a 52 week high of $46.15. The firm has a market capitalization of $5.71 billion, a PE 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 data on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.36 by $0.19. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.94 billion. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. Alaska Air Group’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company earned $3.00 EPS.

Institutional Investors Weigh In On Alaska Air Group

A number of institutional investors and hedge funds have recently bought and sold shares of ALK. Altshuler Shaham Ltd bought a new stake in shares of Alaska Air Group during the second quarter valued at approximately $28,000. LifeSteps Financial Inc. purchased a new position in Alaska Air Group during the first quarter valued at $65,000. Parallel Advisors LLC increased its holdings in Alaska Air Group by 28.4% in the 4th quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock valued at $66,000 after acquiring an additional 373 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Alaska Air Group in the 2nd quarter worth $69,000. Finally, Halpern Financial Inc. purchased a new stake in Alaska Air Group in the 2nd quarter worth $81,000. 81.90% of the stock is owned by 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.