Q2 2024 EPS Estimates for Alaska Air Group, Inc. (NYSE:ALK) Boosted by Zacks Research

Alaska Air Group, Inc. (NYSE:ALK) – Investment analysts at Zacks Research raised their Q2 2024 earnings per share estimates for shares of Alaska Air Group in a research report issued to clients and investors on Thursday, May 2nd. Zacks Research analyst M. Basu now anticipates that the transportation company will post earnings per share of $2.33 for the quarter, up from their previous forecast of $2.12. The consensus estimate for Alaska Air Group’s current full-year earnings is $4.68 per share. Zacks Research also issued estimates for Alaska Air Group’s Q4 2025 earnings at $1.53 EPS and FY2025 earnings at $5.94 EPS.

Other analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft raised Alaska Air Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $44.00 to $51.00 in a research note on Tuesday, February 20th. TD Cowen boosted their price objective on Alaska Air Group from $49.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Bank of America raised their target price on shares of Alaska Air Group from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, April 19th. StockNews.com upgraded shares of Alaska Air Group from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Finally, Evercore ISI lifted their target price on Alaska Air Group from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Four investment 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.85.

Alaska Air Group Stock Down 0.0 %

Shares of NYSE:ALK opened at $42.68 on Monday. The company has a 50 day moving average price of $40.83 and a two-hundred day moving average price of $37.87. The company has a market capitalization of $5.37 billion, a PE ratio of 22.82, a PEG ratio of 0.57 and a beta of 1.60. Alaska Air Group has a 52 week low of $30.75 and a 52 week high of $57.18. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.63 and a current ratio of 0.65.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, April 18th. The transportation company reported ($0.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.17. The firm had revenue of $2.23 billion for 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 company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.62) earnings per share.

Insider Buying and Selling at Alaska Air Group

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 approximately $999,201.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.68% of the company’s stock.

Institutional Trading of Alaska Air Group

Several hedge funds have recently added to or reduced their stakes in ALK. Janney Montgomery Scott LLC increased its position in Alaska Air Group by 3.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,780 shares of the transportation company’s stock worth $764,000 after purchasing an additional 559 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Alaska Air Group during the first quarter valued at about $499,000. Sequoia Financial Advisors LLC acquired a new position in Alaska Air Group during the 1st quarter valued at about $217,000. LifeSteps Financial Inc. purchased a new stake in Alaska Air Group in the 1st quarter valued at $65,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in shares of Alaska Air Group by 1.1% in the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 103,170 shares of the transportation company’s stock valued at $4,435,000 after purchasing an additional 1,160 shares during the last quarter. 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.