Alaska Air Group (NYSE:ALK) Updates Q3 2024 Earnings Guidance

Alaska Air Group (NYSE:ALK) updated its third quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 2.150-2.250 for the period, compared to the consensus EPS estimate of 1.610. The company issued revenue guidance of -. Alaska Air Group also updated its Q3 guidance to $2.15-2.25 EPS.

Alaska Air Group Stock Up 1.0 %

Shares of ALK stock traded up $0.39 on Thursday, hitting $39.88. The stock had a trading volume of 782,585 shares, compared to its average volume of 2,207,344. The stock’s 50 day moving average is $36.82 and its 200-day moving average is $39.76. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 0.70 and a beta of 1.59. Alaska Air Group has a 52-week low of $30.75 and a 52-week high of $46.15. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.68.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.19. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.94 billion. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.00 EPS. As a group, research analysts expect that Alaska Air Group will post 4.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ALK shares. Wolfe Research upgraded Alaska Air Group from a peer perform rating to an outperform rating and set a $55.00 price objective for the company in a research note on Friday, May 17th. Susquehanna decreased their price target on shares of Alaska Air Group from $42.00 to $41.00 and set a neutral rating for the company in a research report on Tuesday, July 16th. TD Cowen cut their price target on shares of Alaska Air Group from $58.00 to $51.00 and set a buy rating on the stock in a report on Wednesday, July 24th. Citigroup reduced their price objective on shares of Alaska Air Group from $51.00 to $48.00 and set a buy rating on the stock in a research note on Thursday, August 29th. Finally, Morgan Stanley dropped their target price on shares of Alaska Air Group from $75.00 to $70.00 and set an overweight rating for the company in a research report on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $54.00.

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.