Alaska Air Group (ALK) to Release Quarterly Earnings on Thursday

Alaska Air Group (NYSE:ALK) will be issuing its quarterly earnings data 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.Parties that wish to listen to the company’s conference call can do so using this link.

Alaska Air Group (NYSE:ALK) last released 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 during 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 revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the business posted $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 Price Performance

Shares of NYSE ALK opened at $40.80 on Wednesday. The stock has a market cap of $5.13 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 0.84 and a beta of 1.63. Alaska Air Group has a fifty-two week low of $30.75 and a fifty-two week high of $57.18. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.58 and a current ratio of 0.61. The stock has a fifty day moving average of $39.22 and a 200-day moving average of $37.08.

Insider Activity at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 6,500 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total transaction of $249,340.00. Following the transaction, the executive vice president now owns 26,048 shares in the company, valued at approximately $999,201.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors grew its holdings in shares of Alaska Air Group by 15.4% during the 3rd quarter. Captrust Financial Advisors now owns 6,204 shares of the transportation company’s stock worth $243,000 after acquiring an additional 828 shares during the period. Profund Advisors LLC bought a new stake in shares of Alaska Air Group in the 4th quarter worth approximately $221,000. CreativeOne Wealth LLC bought a new stake in shares of Alaska Air Group in the 4th quarter worth approximately $211,000. Forum Financial Management LP bought a new stake in shares of Alaska Air Group in the 1st quarter worth approximately $202,000. Finally, Wetherby Asset Management Inc. bought a new stake in shares of Alaska Air Group in the 1st quarter worth approximately $201,000. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Analyst Ratings Changes

ALK has been the subject of several research analyst reports. UBS Group initiated coverage on Alaska Air Group in a research note on Wednesday, March 20th. They set a “buy” rating and a $54.00 price objective for the company. Evercore ISI lifted their price objective on Alaska Air Group from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. TD Cowen lifted their price objective on Alaska Air Group from $41.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Susquehanna lowered Alaska Air Group from a “positive” rating to a “neutral” rating and lifted their price objective for the company from $39.00 to $40.00 in a research note on Wednesday, January 10th. Finally, Melius lowered Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. One equities research 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.44.

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.