Alaska Air Group (ALK) Scheduled to Post Earnings on Thursday

Alaska Air Group (NYSE:ALK) will be announcing its earnings results before the market opens on Thursday, April 18th. Analysts expect the company to announce earnings of ($0.85) per share for the quarter. Alaska Air Group has set its FY24 guidance at $3.00-5.00 EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, January 25th. The transportation company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.12. The business had revenue of $2.55 billion for 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 for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 earnings per share. On average, analysts expect Alaska Air Group to post $4 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Alaska Air Group Trading Down 0.8 %

Shares of ALK opened at $40.98 on Tuesday. The stock has a 50-day moving average price of $39.12 and a 200 day moving average price of $37.05. Alaska Air Group has a one year low of $30.75 and a one year high of $57.18. The company has a market capitalization of $5.16 billion, a P/E ratio of 22.64, a P/E/G ratio of 0.84 and a beta of 1.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.58 and a current ratio of 0.61.

Wall Street Analyst Weigh In

ALK has been the topic of several recent analyst reports. Susquehanna cut shares of Alaska Air Group from a “positive” rating to a “neutral” rating and upped their price target for the company from $39.00 to $40.00 in a report on Wednesday, January 10th. StockNews.com cut shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. TD Cowen boosted their price objective on Alaska Air Group from $41.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 5th. Melius cut Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Evercore ISI lifted their target price on Alaska Air Group from $55.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $57.44.

Insider Buying and Selling at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 6,500 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $38.36, for a total value 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 hyperlink. 0.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alaska Air Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. McIlrath & Eck LLC lifted its holdings in Alaska Air Group by 12.2% in the 4th quarter. McIlrath & Eck LLC now owns 2,149 shares of the transportation company’s stock valued at $92,000 after acquiring an additional 234 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Alaska Air Group by 19.9% during the first quarter. Geneos Wealth Management Inc. now owns 1,811 shares of the transportation company’s stock valued at $105,000 after purchasing an additional 300 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Alaska Air Group by 5.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,906 shares of the transportation company’s stock worth $270,000 after buying an additional 333 shares in the last quarter. Vident Advisory LLC grew its position in Alaska Air Group by 3.3% in the fourth quarter. Vident Advisory LLC now owns 10,660 shares of the transportation company’s stock worth $416,000 after buying an additional 338 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of Alaska Air Group by 5.6% in the fourth quarter. Captrust Financial Advisors now owns 6,552 shares of the transportation company’s stock valued at $281,000 after buying an additional 348 shares in the last quarter. 81.90% of the stock is currently 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.