Seaport Res Ptn Has Bullish Forecast for ALK FY2024 Earnings

Alaska Air Group, Inc. (NYSE:ALK) – Seaport Res Ptn upped their FY2024 earnings estimates for Alaska Air Group in a research note issued to investors on Wednesday, December 11th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the transportation company will earn $4.38 per share for the year, up from their previous forecast of $4.26. The consensus estimate for Alaska Air Group’s current full-year earnings is $4.30 per share. Seaport Res Ptn also issued estimates for Alaska Air Group’s Q4 2024 earnings at $0.47 EPS, Q4 2025 earnings at $0.70 EPS, FY2026 earnings at $7.50 EPS and FY2027 earnings at $10.00 EPS.

ALK has been the subject of several other reports. Barclays raised their price target on shares of Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Melius Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Monday, October 28th. Susquehanna increased their price objective on Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Citigroup dropped their price target on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alaska Air Group from $58.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Alaska Air Group Trading Down 1.3 %

NYSE:ALK opened at $62.57 on Friday. The business’s 50-day simple moving average is $50.51 and its 200-day simple moving average is $43.01. The stock has a market capitalization of $7.94 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. Alaska Air Group has a fifty-two week low of $32.62 and a fifty-two week high of $65.62.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share 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 net margin of 2.99% and a return on equity of 12.81%. Alaska Air Group’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the company posted $1.83 EPS.

Insider Buying and Selling

In related news, COO Muehlen Constance E. Von sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $63.09, for a total value of $252,360.00. Following the sale, the chief operating officer now directly owns 12,162 shares in the company, valued at $767,300.58. This represents a 24.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Andrea L. Schneider sold 3,700 shares of Alaska Air Group stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $63.50, for a total value of $234,950.00. Following the completion of the transaction, the senior vice president now directly owns 21,086 shares of the company’s stock, valued at approximately $1,338,961. This trade represents a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,580 shares of company stock worth $1,693,569 in the last three months. 0.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alaska Air Group

A number of institutional investors and hedge funds have recently modified their holdings of ALK. Cetera Advisors LLC acquired a new stake in Alaska Air Group in the 1st quarter valued at $227,000. CWM LLC boosted its stake in shares of Alaska Air Group by 13.0% in the 2nd quarter. CWM LLC now owns 4,403 shares of the transportation company’s stock worth $178,000 after buying an additional 507 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Alaska Air Group during the second quarter valued at approximately $773,000. Sequoia Financial Advisors LLC grew its stake in Alaska Air Group by 13.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,714 shares of the transportation company’s stock valued at $231,000 after purchasing an additional 658 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Alaska Air Group by 22.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,318 shares of the transportation company’s stock worth $296,000 after buying an additional 1,333 shares during the last quarter. 81.90% of the stock is currently 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.