Alaska Air Group (ALK) to Release Earnings on Thursday

Alaska Air Group (NYSE:ALK) is expected to post its quarterly earnings results before the market opens on Thursday, January 23rd. Analysts expect Alaska Air Group to post 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.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results 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. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the company posted $1.83 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. 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 Trading Up 3.7 %

Alaska Air Group stock opened at $68.79 on Wednesday. Alaska Air Group has a one year low of $32.62 and a one year high of $69.10. The business’s fifty day moving average is $60.81 and its 200 day moving average is $47.78. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. The stock has a market capitalization of $8.73 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 0.65 and a beta of 1.54.

Insiders Place Their Bets

In related news, CEO Joseph A. Sprague sold 2,325 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $64.38, for a total value of $149,683.50. Following the transaction, the chief executive officer now directly owns 19,340 shares of the company’s stock, valued at approximately $1,245,109.20. The trade was a 10.73 % decrease in their position. The transaction 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 sale, the vice president now directly owns 7,150 shares of the company’s stock, valued at approximately $460,531.50. This trade represents a 15.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,473 shares of company stock worth $2,198,342. Company insiders own 0.92% of the company’s stock.

Analyst Upgrades and Downgrades

ALK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target 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, December 11th. Bank of America lifted their target price on shares of Alaska Air Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Susquehanna raised Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price target on the stock in a report on Tuesday, January 7th. Melius raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Monday, October 28th. Finally, Evercore ISI lowered their target price on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $72.57.

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.