Equities analysts expect that Alaska Air Group, Inc. (NYSE:ALK) will report $2.29 billion in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Alaska Air Group’s earnings, with estimates ranging from $2.27 billion to $2.31 billion. Alaska Air Group posted sales of $2.16 billion during the same quarter last year, which suggests a positive year over year growth rate of 6%. The business is scheduled to issue its next earnings results after the market closes on Thursday, July 25th.
According to Zacks, analysts expect that Alaska Air Group will report full-year sales of $8.71 billion for the current fiscal year, with estimates ranging from $8.67 billion to $8.85 billion. For the next financial year, analysts expect that the firm will report sales of $9.28 billion, with estimates ranging from $9.11 billion to $9.38 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Alaska Air Group.
Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, April 25th. The transportation company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. Alaska Air Group had a net margin of 5.26% and a return on equity of 14.97%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the firm posted $0.14 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis.
A number of brokerages have recently commented on ALK. Imperial Capital reissued an “in-line” rating and issued a $68.00 price objective (up previously from $61.00) on shares of Alaska Air Group in a research report on Wednesday, June 19th. Morgan Stanley lifted their price objective on shares of Alaska Air Group from $76.00 to $81.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Deutsche Bank decreased their price objective on shares of Alaska Air Group from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Credit Suisse Group set a $76.00 price objective on shares of Alaska Air Group and gave the company a “buy” rating in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. raised shares of Alaska Air Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $71.00 to $72.00 in a research report on Tuesday, April 30th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $74.97.
Shares of ALK opened at $64.07 on Thursday. The company has a 50-day moving average price of $61.67. Alaska Air Group has a one year low of $53.39 and a one year high of $74.83. The company has a market cap of $7.92 billion, a P/E ratio of 14.27, a PEG ratio of 0.63 and a beta of 0.88. The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 0.44.
In related news, EVP Andrew R. Harrison sold 4,700 shares of Alaska Air Group stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $62.63, for a total transaction of $294,361.00. Following the completion of the sale, the executive vice president now owns 15,867 shares of the company’s stock, valued at approximately $993,750.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew R. Harrison sold 1,600 shares of Alaska Air Group stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $61.53, for a total transaction of $98,448.00. Following the sale, the executive vice president now directly owns 20,567 shares of the company’s stock, valued at approximately $1,265,487.51. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Investors Research Corp bought a new stake in Alaska Air Group in the 1st quarter valued at about $28,000. Icon Wealth Partners LLC bought a new stake in Alaska Air Group in the 1st quarter valued at about $36,000. Sandy Spring Bank boosted its holdings in Alaska Air Group by 58.8% in the 1st quarter. Sandy Spring Bank now owns 794 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 294 shares during the period. Quadrant Capital Group LLC boosted its holdings in Alaska Air Group by 762.7% in the 1st quarter. Quadrant Capital Group LLC now owns 949 shares of the transportation company’s stock valued at $52,000 after purchasing an additional 839 shares during the period. Finally, Marshall Wace North America L.P. bought a new stake in Alaska Air Group in the 1st quarter valued at about $86,000. 88.43% of the stock is owned by institutional investors and hedge funds.
About Alaska Air Group
Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.
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