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

Alaska Air Group (NYSE:ALK) issued an update on its fourth quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.400-0.500 for the period, compared to the consensus earnings per share estimate of 0.350. The company issued revenue guidance of -. Alaska Air Group also updated its FY 2024 guidance to 4.250-4.500 EPS.

Wall Street Analysts Forecast Growth

Several research firms have commented on ALK. Evercore ISI decreased 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 report 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 on the stock in a research report on Monday, October 28th. Barclays increased their price objective on Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. The Goldman Sachs Group restated a “buy” rating and issued a $70.00 target price on shares of Alaska Air Group in a report on Friday, November 15th. Finally, UBS Group reissued a “buy” rating and issued a $72.00 price target on shares of Alaska Air Group in a research report on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.86.

Alaska Air Group Trading Up 4.1 %

Shares of ALK opened at $64.97 on Friday. The stock’s 50-day moving average price is $52.17 and its 200 day moving average price is $43.62. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $8.25 billion, a price-to-earnings ratio of 26.20, a P/E/G ratio of 1.24 and a beta of 1.60. Alaska Air Group has a 12-month low of $32.62 and a 12-month high of $65.62.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 12.81% and a net margin of 2.99%. Alaska Air Group’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.83 EPS. As a group, research analysts predict that Alaska Air Group will post 4.3 earnings per share for the current year.

Insider Activity

In other Alaska Air Group news, CFO Shane R. Tackett sold 5,000 shares of Alaska Air Group stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $63.56, for a total value of $317,800.00. Following the completion of the transaction, the chief financial officer now owns 27,362 shares in the company, valued at approximately $1,739,128.72. The trade was a 15.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph A. Sprague sold 2,325 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $64.38, for a total transaction of $149,683.50. Following the transaction, the chief executive officer now owns 19,340 shares in the company, valued at $1,245,109.20. The trade was a 10.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,473 shares of company stock worth $2,198,342. 0.68% of the stock is currently owned by corporate insiders.

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.