Seaport Res Ptn Has Positive Outlook for ALK FY2024 Earnings

Alaska Air Group, Inc. (NYSE:ALK) – Equities researchers at Seaport Res Ptn raised their FY2024 earnings per share (EPS) estimates for Alaska Air Group in a note issued to investors on Wednesday, December 11th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the transportation company will earn $4.38 per share for the year, up from their previous estimate of $4.26. The consensus estimate for Alaska Air Group’s current full-year earnings is $4.30 per share. Seaport Res Ptn also issued estimates for Alaska Air Group’s Q4 2024 earnings at $0.47 EPS, Q4 2025 earnings at $0.70 EPS, FY2026 earnings at $7.50 EPS and FY2027 earnings at $10.00 EPS.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.22 by $0.03. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.83 earnings per share.

Several other analysts also recently commented on the company. Bank of America increased their price objective on Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. UBS Group reissued a “buy” rating and issued a $72.00 price objective on shares of Alaska Air Group in a research note on Tuesday, November 26th. Susquehanna increased their price objective on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Barclays increased their price target on Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, TD Cowen increased their price target on Alaska Air Group from $68.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $64.00.

Alaska Air Group Stock Performance

Shares of Alaska Air Group stock opened at $62.59 on Friday. The company has a market cap of $7.95 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60. Alaska Air Group has a 52 week low of $32.62 and a 52 week high of $65.62. The business has a 50 day moving average price of $50.51 and a 200-day moving average price of $43.01. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93.

Insider Buying and Selling at Alaska Air Group

In other news, COO Muehlen Constance E. Von sold 4,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $63.09, for a total value of $252,360.00. Following the completion of the transaction, the chief operating officer now directly owns 12,162 shares of the company’s stock, valued at $767,300.58. This trade represents a 24.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shane R. Tackett sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $63.56, for a total value of $317,800.00. Following the completion of the transaction, the chief financial officer now directly owns 27,362 shares of the company’s stock, valued at $1,739,128.72. The trade was a 15.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,580 shares of company stock valued at $1,693,569. Company insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Alaska Air Group

Large investors have recently made changes to their positions in the stock. FMR LLC boosted its holdings in shares of Alaska Air Group by 32.4% in the third quarter. FMR LLC now owns 1,084,639 shares of the transportation company’s stock worth $49,037,000 after acquiring an additional 265,343 shares during the period. Bank of Montreal Can boosted its holdings in shares of Alaska Air Group by 54.7% in the third quarter. Bank of Montreal Can now owns 57,577 shares of the transportation company’s stock worth $2,591,000 after acquiring an additional 20,347 shares during the period. Raymond James & Associates boosted its holdings in shares of Alaska Air Group by 13.5% in the second quarter. Raymond James & Associates now owns 283,581 shares of the transportation company’s stock worth $11,457,000 after acquiring an additional 33,717 shares during the period. Entropy Technologies LP boosted its holdings in shares of Alaska Air Group by 358.9% in the third quarter. Entropy Technologies LP now owns 27,428 shares of the transportation company’s stock worth $1,240,000 after acquiring an additional 21,451 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Alaska Air Group by 45.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,247 shares of the transportation company’s stock worth $64,300,000 after acquiring an additional 442,331 shares during the period. 81.90% of the stock is owned by institutional investors.

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.