Research Analysts Offer Predictions for ALK FY2024 Earnings

Alaska Air Group, Inc. (NYSE:ALK) – Research analysts at Seaport Res Ptn lifted their FY2024 EPS estimates for shares of Alaska Air Group in a report released on Wednesday, December 11th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the transportation company will post earnings of $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 $4.26 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.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. The company had revenue of $3.07 billion during 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 quarter in the prior year, the firm earned $1.83 EPS.

Several other equities analysts have also recently weighed in on the stock. Bank of America lifted their price objective 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. UBS Group reiterated a “buy” rating and issued a $72.00 price objective on shares of Alaska Air Group in a research note on Tuesday, November 26th. TD Cowen lifted their price objective on Alaska Air Group from $68.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday. 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. Finally, Citigroup cut their target price on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Alaska Air Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Alaska Air Group Trading Down 1.0 %

Shares of ALK opened at $63.42 on Friday. The business’s 50-day moving average price is $50.11 and its 200 day moving average price is $42.87. The stock has a market capitalization of $8.05 billion, a P/E ratio of 25.57, a P/E/G ratio of 1.23 and a beta of 1.60. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93. Alaska Air Group has a 1-year low of $32.62 and a 1-year high of $65.62.

Institutional Investors Weigh In On Alaska Air Group

Several institutional investors and hedge funds have recently made changes to their positions in ALK. Verdence Capital Advisors LLC boosted its holdings in shares of Alaska Air Group by 2.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 10,180 shares of the transportation company’s stock worth $460,000 after acquiring an additional 215 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in Alaska Air Group by 2.7% during the 3rd quarter. QRG Capital Management Inc. now owns 9,271 shares of the transportation company’s stock worth $419,000 after buying an additional 242 shares in the last quarter. First Trust Direct Indexing L.P. raised its position in shares of Alaska Air Group by 4.7% during the third quarter. First Trust Direct Indexing L.P. now owns 5,938 shares of the transportation company’s stock worth $268,000 after acquiring an additional 267 shares during the last quarter. Coastwise Capital Group LLC raised its holdings in Alaska Air Group by 6.0% during the 3rd quarter. Coastwise Capital Group LLC now owns 5,354 shares of the transportation company’s stock worth $242,000 after purchasing an additional 304 shares during the last quarter. Finally, Concurrent Investment Advisors LLC grew its position in shares of Alaska Air Group by 3.7% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 8,770 shares of the transportation company’s stock worth $397,000 after buying an additional 309 shares during the period. Institutional investors and hedge funds own 81.90% of the company’s stock.

Insider Activity at Alaska Air Group

In related news, SVP Andrea L. Schneider sold 3,700 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $63.50, for a total value of $234,950.00. Following the sale, the senior vice president now owns 21,086 shares of the company’s stock, valued at $1,338,961. The trade was a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Shane R. Tackett sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $63.56, for a total transaction of $317,800.00. Following the transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,580 shares of company stock worth $1,441,209. Company 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.