Alaska Air Group (NYSE:ALK) Issues Q3 Earnings Guidance

Alaska Air Group (NYSE:ALK) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $1.40-1.60 for the period, compared to the consensus earnings per share estimate of $2.06. Alaska Air Group also updated its FY 2024 guidance to 3.500-4.500 EPS.

Wall Street Analyst Weigh In

ALK has been the topic of several research analyst reports. Wolfe Research upgraded shares of Alaska Air Group from a peer perform rating to an outperform rating and set a $55.00 price target on the stock in a research note on Friday, May 17th. Bank of America increased their price target on Alaska Air Group from $50.00 to $56.00 and gave the company a buy rating in a research note on Friday, April 19th. StockNews.com upgraded Alaska Air Group from a sell rating to a hold rating in a report on Friday, April 19th. Susquehanna decreased their price objective on Alaska Air Group from $42.00 to $41.00 and set a neutral rating on the stock in a report on Tuesday. Finally, TD Cowen increased their target price on Alaska Air Group from $49.00 to $58.00 and gave the company a buy rating in a research report on Friday, April 19th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $55.82.

Alaska Air Group Trading Down 1.1 %

Shares of NYSE ALK traded down $0.44 during trading hours on Wednesday, reaching $40.06. The stock had a trading volume of 2,458,868 shares, compared to its average volume of 2,176,173. Alaska Air Group has a 52-week low of $30.75 and a 52-week high of $54.66. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 0.51 and a beta of 1.60. The business’s fifty day moving average price is $41.18 and its two-hundred day moving average price is $39.86. The company has a current ratio of 0.65, a quick ratio of 0.63 and a debt-to-equity ratio of 0.57.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, April 18th. The transportation company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.09) by $0.17. Alaska Air Group had a net margin of 2.34% and a return on equity of 13.54%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the prior year, the business earned ($0.62) EPS. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. Analysts expect that Alaska Air Group will post 4.71 EPS for the current fiscal year.

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.