Analysts Set Expectations for Alaska Air Group, Inc.’s Q1 2024 Earnings (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALK) – Investment analysts at Seaport Res Ptn lowered their Q1 2024 earnings per share (EPS) estimates for Alaska Air Group in a research report issued to clients and investors on Monday, April 8th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the transportation company will earn ($1.10) per share for the quarter, down from their prior estimate of ($0.50). The consensus estimate for Alaska Air Group’s current full-year earnings is $4.39 per share. Seaport Res Ptn also issued estimates for Alaska Air Group’s FY2024 earnings at $4.55 EPS.

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

Several other research firms also recently weighed in on ALK. Deutsche Bank Aktiengesellschaft upgraded Alaska Air Group from a “hold” rating to a “buy” rating and raised their target price for the company from $44.00 to $51.00 in a research report on Tuesday, February 20th. StockNews.com cut Alaska Air Group from a “hold” rating to a “sell” rating in a report on Tuesday. Evercore ISI increased their price target on Alaska Air Group from $55.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Susquehanna cut Alaska Air Group from a “positive” rating to a “neutral” rating and increased their price target for the company from $39.00 to $40.00 in a report on Wednesday, January 10th. Finally, UBS Group assumed coverage on Alaska Air Group in a report on Wednesday, March 20th. They issued a “buy” rating and a $54.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $57.44.

Alaska Air Group Stock Performance

NYSE ALK opened at $41.27 on Thursday. The company has a market cap of $5.19 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 0.85 and a beta of 1.63. The stock’s 50 day simple moving average is $39.01 and its 200-day simple moving average is $37.02. Alaska Air Group has a 1-year low of $30.75 and a 1-year high of $57.18. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.61 and a quick ratio of 0.58.

Insiders Place Their Bets

In other Alaska Air Group news, EVP Andrew R. Harrison sold 6,500 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total transaction of $249,340.00. Following the completion of the sale, the executive vice president now owns 26,048 shares of the company’s stock, valued at $999,201.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Alaska Air Group

Institutional investors have recently modified their holdings of the company. Boston Partners lifted its holdings in shares of Alaska Air Group by 64.6% in the 4th quarter. Boston Partners now owns 3,811,191 shares of the transportation company’s stock valued at $148,861,000 after purchasing an additional 1,495,311 shares during the last quarter. Clearbridge Investments LLC acquired a new position in Alaska Air Group in the 1st quarter valued at about $62,390,000. Wellington Management Group LLP acquired a new position in Alaska Air Group in the 1st quarter valued at about $30,293,000. Norges Bank acquired a new position in Alaska Air Group in the 4th quarter valued at about $30,980,000. Finally, BlackRock Inc. increased its position in Alaska Air Group by 9.1% in the 2nd quarter. BlackRock Inc. now owns 7,951,500 shares of the transportation company’s stock valued at $422,861,000 after acquiring an additional 660,917 shares during the period. 81.90% of the stock is owned by institutional investors and hedge funds.

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.