Alaska Air Group, Inc. (NYSE:ALK) to Post Q1 2024 Earnings of ($0.50) Per Share, Seaport Res Ptn Forecasts

Alaska Air Group, Inc. (NYSE:ALKFree Report) – Equities researchers at Seaport Res Ptn increased their Q1 2024 earnings per share (EPS) estimates for shares of Alaska Air Group in a report released on Wednesday, March 13th. Seaport Res Ptn analyst D. Mckenzie now expects that the transportation company will post earnings per share of ($0.50) for the quarter, up from their prior forecast of ($1.45). The consensus estimate for Alaska Air Group’s current full-year earnings is $4.32 per share. Seaport Res Ptn also issued estimates for Alaska Air Group’s Q2 2024 earnings at $2.35 EPS, Q3 2024 earnings at $2.50 EPS, Q4 2024 earnings at $0.75 EPS and FY2024 earnings at $5.10 EPS.

Alaska Air Group (NYSE:ALKGet Free Report) last released its quarterly earnings data on Thursday, January 25th. The transportation company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.12. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.53 billion. Alaska Air Group had a return on equity of 14.72% and a net margin of 2.25%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $0.92 EPS.

Other equities research analysts have also recently issued reports about the company. Susquehanna cut Alaska Air Group from a “positive” rating to a “neutral” rating and raised their target price for the company from $39.00 to $40.00 in a research report on Wednesday, January 10th. StockNews.com upgraded Alaska Air Group from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. Deutsche Bank Aktiengesellschaft upgraded Alaska Air Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $44.00 to $51.00 in a report on Tuesday, February 20th. Raymond James cut Alaska Air Group from a “strong-buy” rating to a “market perform” rating in a report on Monday, December 4th. Finally, Melius cut Alaska Air Group from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Alaska Air Group currently has a consensus rating of “Moderate Buy” and an average price target of $56.13.

Read Our Latest Stock Report on ALK

Alaska Air Group Price Performance

NYSE:ALK opened at $38.21 on Monday. Alaska Air Group has a 52 week low of $30.75 and a 52 week high of $57.18. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $4.82 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 0.79 and a beta of 1.62. The stock’s 50-day moving average price is $36.92 and its 200-day moving average price is $36.76.

Insider Activity

In other news, EVP Andrew R. Harrison sold 6,500 shares of Alaska Air Group stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $38.36, for a total transaction of $249,340.00. Following the sale, the executive vice president now owns 26,048 shares of the company’s stock, valued at approximately $999,201.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.68% of the company’s stock.

Institutional Trading of Alaska Air Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Executive Wealth Group LLC raised its position in Alaska Air Group by 25.6% in the fourth quarter. Executive Wealth Group LLC now owns 13,971 shares of the transportation company’s stock valued at $546,000 after purchasing an additional 2,851 shares during the period. Goldman Sachs Group Inc. raised its position in Alaska Air Group by 24.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 397,028 shares of the transportation company’s stock valued at $15,512,000 after purchasing an additional 78,670 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in Alaska Air Group by 145.4% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 27,003 shares of the transportation company’s stock valued at $1,055,000 after purchasing an additional 16,000 shares during the period. Mercer Global Advisors Inc. ADV raised its position in Alaska Air Group by 5.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,906 shares of the transportation company’s stock valued at $270,000 after purchasing an additional 333 shares during the period. Finally, Employees Retirement System of Texas raised its position in Alaska Air Group by 26.2% in the fourth quarter. Employees Retirement System of Texas now owns 94,070 shares of the transportation company’s stock valued at $3,675,000 after purchasing an additional 19,550 shares during the period. Hedge funds and other institutional investors own 80.58% of the company’s stock.

About Alaska Air Group

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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.

Further Reading

Earnings History and Estimates for Alaska Air Group (NYSE:ALK)

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