Alaska Air Group (NYSE:ALK) Issues FY 2024 Earnings Guidance

Alaska Air Group (NYSE:ALK) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.250-5.250 for the period, compared to the consensus EPS estimate of 4.360. The company issued revenue guidance of -. Alaska Air Group also updated its FY24 guidance to $3.25-5.25 EPS.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ALK. Melius downgraded shares of Alaska Air Group from a buy rating to a hold rating in a research note on Monday, January 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Alaska Air Group from a hold rating to a buy rating and lifted their price target for the stock from $44.00 to $51.00 in a research note on Tuesday, February 20th. StockNews.com raised Alaska Air Group from a sell rating to a hold rating in a report on Friday. TD Cowen lifted their price objective on Alaska Air Group from $49.00 to $58.00 and gave the company a buy rating in a report on Friday. Finally, 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 report on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $57.85.

Alaska Air Group Stock Performance

Alaska Air Group stock opened at $45.01 on Friday. The stock has a 50-day simple moving average of $39.68 and a 200 day simple moving average of $37.23. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 0.85. Alaska Air Group has a 12-month low of $30.75 and a 12-month high of $57.18. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 24.07, a P/E/G ratio of 0.89 and a beta of 1.63.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, April 18th. The transportation company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.17. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Alaska Air Group had a return on equity of 13.54% and a net margin of 2.34%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.62) earnings per share. On average, research analysts anticipate that Alaska Air Group will post 4.41 earnings per share for the current fiscal year.

Insider Transactions at Alaska Air Group

In other 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 completion of the transaction, the executive vice president now directly owns 26,048 shares in the company, valued at approximately $999,201.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Alaska Air Group

Institutional investors and hedge funds have recently modified their holdings of the business. Captrust Financial Advisors grew its position in shares of Alaska Air Group by 15.4% in the 3rd quarter. Captrust Financial Advisors now owns 6,204 shares of the transportation company’s stock valued at $243,000 after purchasing an additional 828 shares during the period. Profund Advisors LLC acquired a new position in shares of Alaska Air Group in the 4th quarter valued at approximately $221,000. CreativeOne Wealth LLC acquired a new position in shares of Alaska Air Group in the 4th quarter valued at approximately $211,000. Forum Financial Management LP acquired a new position in shares of Alaska Air Group in the 1st quarter valued at approximately $202,000. Finally, Wetherby Asset Management Inc. acquired a new position in shares of Alaska Air Group in the 1st quarter valued at approximately $201,000. 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.