Seaport Res Ptn Weighs in on Alaska Air Group, Inc.’s Q4 2022 Earnings (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALKGet Rating) – Seaport Res Ptn lowered their Q4 2022 earnings estimates for Alaska Air Group in a note issued to investors on Wednesday, June 15th. Seaport Res Ptn analyst D. Mckenzie now forecasts that the transportation company will earn $1.30 per share for the quarter, down from their prior estimate of $1.40. The consensus estimate for Alaska Air Group’s current full-year earnings is $4.07 per share.

Alaska Air Group (NYSE:ALKGet Rating) last posted its quarterly earnings results on Thursday, April 21st. The transportation company reported ($1.33) EPS for the quarter, topping analysts’ consensus estimates of ($1.58) by $0.25. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Alaska Air Group had a net margin of 6.60% and a return on equity of 0.36%. The business’s revenue for the quarter was up 110.9% on a year-over-year basis. During the same period in the prior year, the business posted ($3.51) earnings per share.

ALK has been the subject of several other reports. StockNews.com started coverage on shares of Alaska Air Group in a research report on Thursday, March 31st. They set a “hold” rating for the company. Morgan Stanley decreased their price objective on shares of Alaska Air Group from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, March 25th. Cowen increased their price objective on shares of Alaska Air Group from $66.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, March 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alaska Air Group from $97.00 to $103.00 and gave the company an “overweight” rating in a research report on Friday, April 22nd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $77.67.

ALK stock opened at $38.68 on Friday. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 10.51 and a beta of 1.44. The firm has a 50-day simple moving average of $49.73 and a two-hundred day simple moving average of $52.34. Alaska Air Group has a one year low of $38.20 and a one year high of $65.16. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 0.87.

A number of institutional investors have recently added to or reduced their stakes in ALK. Morgan Stanley raised its holdings in shares of Alaska Air Group by 60.3% during the 2nd quarter. Morgan Stanley now owns 1,163,799 shares of the transportation company’s stock worth $70,189,000 after acquiring an additional 437,564 shares during the period. Franklin Resources Inc. raised its holdings in shares of Alaska Air Group by 569.0% during the 3rd quarter. Franklin Resources Inc. now owns 34,621 shares of the transportation company’s stock worth $2,028,000 after acquiring an additional 29,446 shares during the period. Dark Forest Capital Management LP raised its holdings in shares of Alaska Air Group by 5,716.7% during the 3rd quarter. Dark Forest Capital Management LP now owns 698 shares of the transportation company’s stock worth $41,000 after acquiring an additional 686 shares during the period. Invesco Ltd. raised its holdings in shares of Alaska Air Group by 4.8% during the 3rd quarter. Invesco Ltd. now owns 1,786,817 shares of the transportation company’s stock worth $104,708,000 after acquiring an additional 82,512 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of Alaska Air Group by 30.7% during the 3rd quarter. Royal Bank of Canada now owns 293,342 shares of the transportation company’s stock worth $17,189,000 after acquiring an additional 68,941 shares during the period. 72.26% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CFO Shane R. Tackett sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $46.97, for a total transaction of $93,940.00. Following the sale, the chief financial officer now owns 9,966 shares of the company’s stock, valued at approximately $468,103.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is currently owned by corporate insiders.

Alaska Air Group Company Profile (Get Rating)

Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It flies to approximately 120 destinations throughout North America. Alaska Air Group, Inc was founded in 1932 and is based in Seattle, Washington.

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