Alaska Air Group (NYSE:ALK) Releases Q4 2024 Earnings Guidance

Alaska Air Group (NYSE:ALK) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.200-0.400 for the period, compared to the consensus EPS estimate of 0.600. The company issued revenue guidance of -. Alaska Air Group also updated its FY 2024 guidance to 4.000- EPS.

Alaska Air Group Price Performance

Shares of ALK stock traded up $1.32 during trading hours on Friday, reaching $49.23. 3,632,444 shares of the company were exchanged, compared to its average volume of 2,278,467. Alaska Air Group has a fifty-two week low of $31.44 and a fifty-two week high of $50.16. The stock’s fifty day moving average is $42.20 and its two-hundred day moving average is $40.86. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 28.62, a P/E/G ratio of 0.73 and a beta of 1.60. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.66.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3 billion. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. Alaska Air Group’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.83 earnings per share. Sell-side analysts forecast that Alaska Air Group will post 4.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Morgan Stanley dropped their price target on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Evercore ISI lowered their target price on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. Melius raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Monday, October 28th. Barclays assumed coverage on shares of Alaska Air Group in a research note on Monday, October 21st. They issued an “overweight” rating and a $55.00 target price for the company. Finally, Melius Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Monday, October 28th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.17.

About Alaska Air Group

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.