Q2 2022 EPS Estimates for Alaska Air Group, Inc. Raised by Seaport Res Ptn (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALKGet Rating) – Analysts at Seaport Res Ptn raised their Q2 2022 EPS estimates for Alaska Air Group in a research report issued to clients and investors on Wednesday, June 15th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the transportation company will post earnings of $1.85 per share for the quarter, up from their previous forecast of $1.50. The consensus estimate for Alaska Air Group’s current full-year earnings is $4.05 per share. Seaport Res Ptn also issued estimates for Alaska Air Group’s Q3 2022 earnings at $2.00 EPS and FY2022 earnings at $3.81 EPS.

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

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

ALK stock opened at $40.42 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 0.87. The company’s 50-day simple moving average is $49.50 and its 200 day simple moving average is $52.35. Alaska Air Group has a 52 week low of $38.19 and a 52 week high of $65.16. The company has a market capitalization of $5.10 billion, a PE ratio of 10.98 and a beta of 1.44.

Institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd increased its stake in shares of Alaska Air Group by 416.4% in the first quarter. Covestor Ltd now owns 568 shares of the transportation company’s stock valued at $33,000 after buying an additional 458 shares during the period. Capital Advisory Group Advisory Services LLC acquired a new position in shares of Alaska Air Group in the first quarter valued at approximately $38,000. Crewe Advisors LLC increased its stake in shares of Alaska Air Group by 10,750.0% in the first quarter. Crewe Advisors LLC now owns 651 shares of the transportation company’s stock valued at $38,000 after buying an additional 645 shares during the period. Dark Forest Capital Management LP increased its stake in shares of Alaska Air Group by 5,716.7% in the third quarter. Dark Forest Capital Management LP now owns 698 shares of the transportation company’s stock valued at $41,000 after buying an additional 686 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in shares of Alaska Air Group by 34.0% in the first quarter. Quadrant Capital Group LLC now owns 910 shares of the transportation company’s stock valued at $53,000 after buying an additional 231 shares during the period. 72.26% of the stock is owned by institutional investors.

In other news, CFO Shane R. Tackett sold 2,000 shares of the stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $46.97, for a total value of $93,940.00. Following the completion of the transaction, the chief financial officer now owns 9,966 shares of the company’s stock, valued at $468,103.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.40% of the stock is currently owned by corporate insiders.

About Alaska Air Group (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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