Alaska Air Group (NYSE:ALK) Issues Q2 2024 Earnings Guidance

Alaska Air Group (NYSE:ALK) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.200-2.400 for the period, compared to the consensus estimate of 2.120. The company issued revenue guidance of -. Alaska Air Group also updated its FY 2024 guidance to 3.250-5.250 EPS.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ALK. Melius cut Alaska Air Group from a buy rating to a hold rating in a report on Monday, January 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Alaska Air Group from a hold rating to a buy rating and raised their price objective for the company from $44.00 to $51.00 in a research report on Tuesday, February 20th. Evercore ISI upped their target price on shares of Alaska Air Group from $55.00 to $65.00 and gave the stock an outperform rating in a research report on Thursday, April 4th. TD Cowen raised their price target on shares of Alaska Air Group from $49.00 to $58.00 and gave the company a buy rating in a report on Friday. Finally, Bank of America upped their price objective on Alaska Air Group from $50.00 to $56.00 and gave the stock a buy rating in a report on Friday. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $57.85.

Alaska Air Group Stock Up 1.3 %

Alaska Air Group stock opened at $45.02 on Friday. The company has a 50 day moving average of $39.68 and a 200-day moving average of $37.22. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 0.85. Alaska Air Group has a twelve month low of $30.75 and a twelve month high of $57.18. The stock has a market capitalization of $5.66 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 0.89 and a beta of 1.63.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, April 18th. The transportation company reported ($0.92) EPS for the quarter, beating the consensus estimate of ($1.09) by $0.17. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Alaska Air Group had a net margin of 2.34% and a return on equity of 13.54%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.62) EPS. On average, equities research analysts anticipate that Alaska Air Group will post 4.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Alaska Air Group news, EVP Andrew R. Harrison sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total value of $249,340.00. Following the sale, the executive vice president now owns 26,048 shares in the company, valued at approximately $999,201.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alaska Air Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. McIlrath & Eck LLC boosted its stake in shares of Alaska Air Group by 12.2% during the 4th quarter. McIlrath & Eck LLC now owns 2,149 shares of the transportation company’s stock worth $92,000 after buying an additional 234 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Alaska Air Group by 19.9% during the first quarter. Geneos Wealth Management Inc. now owns 1,811 shares of the transportation company’s stock valued at $105,000 after purchasing an additional 300 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Alaska Air Group by 5.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,906 shares of the transportation company’s stock valued at $270,000 after purchasing an additional 333 shares in the last quarter. Vident Advisory LLC grew its stake in Alaska Air Group by 3.3% in the fourth quarter. Vident Advisory LLC now owns 10,660 shares of the transportation company’s stock valued at $416,000 after purchasing an additional 338 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Alaska Air Group by 5.6% during the 4th quarter. Captrust Financial Advisors now owns 6,552 shares of the transportation company’s stock worth $281,000 after purchasing an additional 348 shares during the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

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.