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

Alaska Air Group (NYSE:ALK) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 4.250-4.500 for the period, compared to the consensus earnings per share estimate of 4.260. The company issued revenue guidance of -. Alaska Air Group also updated its Q4 2024 guidance to 0.400-0.500 EPS.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Melius raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Monday, October 28th. Citigroup lifted their target price on Alaska Air Group from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, December 16th. The Goldman Sachs Group reissued a “buy” rating and set a $70.00 price target on shares of Alaska Air Group in a research report on Friday, November 15th. JPMorgan Chase & Co. lifted their price objective on shares of Alaska Air Group from $58.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Bank of America increased their target price on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $65.86.

Alaska Air Group Price Performance

NYSE:ALK opened at $66.02 on Friday. 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 company has a 50 day moving average price of $52.17 and a 200-day moving average price of $43.62. Alaska Air Group has a 1-year low of $32.62 and a 1-year high of $66.81. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. Alaska Air Group’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.83 EPS. Equities research analysts forecast that Alaska Air Group will post 4.3 EPS for the current year.

Insiders Place Their Bets

In other Alaska Air Group news, COO Muehlen Constance E. Von sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $63.09, for a total value of $252,360.00. Following the transaction, the chief operating officer now directly owns 12,162 shares of the company’s stock, valued at $767,300.58. This trade represents a 24.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Andrew R. Harrison sold 13,880 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $64.01, for a total value of $888,458.80. Following the transaction, the executive vice president now owns 20,638 shares in the company, valued at approximately $1,321,038.38. This represents a 40.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,473 shares of company stock worth $2,198,342. Corporate insiders own 0.68% of the company’s stock.

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.