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

Alaska Air Group (NYSE:ALK) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 4.250-4.500 for the period, compared to the consensus earnings per share estimate of 4.260. The company issued revenue guidance of -. Alaska Air Group also updated its Q4 2024 guidance to 0.400-0.500 EPS.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALK. Melius Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Monday, October 28th. Evercore ISI cut their price objective on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. UBS Group reiterated a “buy” rating and issued a $72.00 target price on shares of Alaska Air Group in a report on Tuesday, November 26th. TD Cowen boosted their price target on shares of Alaska Air Group from $68.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Citigroup upped their price target on shares of Alaska Air Group from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.86.

Alaska Air Group Stock Down 0.5 %

NYSE ALK opened at $64.63 on Friday. Alaska Air Group has a twelve month low of $32.62 and a twelve month high of $65.62. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. The stock has a market cap of $8.20 billion, a PE ratio of 26.06, a PEG ratio of 1.24 and a beta of 1.60. The firm has a 50-day simple moving average of $52.17 and a 200 day simple moving average of $43.62.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the prior year, the company posted $1.83 EPS. The business’s revenue was up 8.2% on a year-over-year basis. On average, research analysts forecast that Alaska Air Group will post 4.3 EPS for the current year.

Insider Buying and Selling at Alaska Air Group

In other Alaska Air Group news, EVP Andrew R. Harrison sold 13,880 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $64.01, for a total transaction of $888,458.80. Following the completion of the transaction, the executive vice president now directly owns 20,638 shares in the company, valued at $1,321,038.38. This represents a 40.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Emily Halverson sold 1,329 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $64.41, for a total transaction of $85,600.89. Following the completion of the sale, the vice president now owns 7,150 shares in the company, valued at $460,531.50. This represents a 15.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,473 shares of company stock valued at $2,198,342. 0.68% of the stock is currently owned by corporate insiders.

Alaska Air Group Company Profile

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.