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

Alaska Air Group (NYSE:ALK) is expected to announce its earnings results before the market opens on Thursday, January 23rd. Analysts expect the company to announce earnings of $0.45 per share and revenue of $3,323,470.00 billion for the quarter. Alaska Air Group has set its FY 2024 guidance at 4.000- EPS and its Q4 2024 guidance at 0.200-0.400 EPS.

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

ALK opened at $66.66 on Thursday. The company’s 50 day moving average is $59.24 and its 200 day moving average is $46.81. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93. The company has a market cap of $8.46 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 1.24 and a beta of 1.54. Alaska Air Group has a 12-month low of $32.62 and a 12-month high of $69.10.

Insider Activity

In other Alaska Air Group news, SVP Andrea L. Schneider sold 3,700 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $63.50, for a total transaction of $234,950.00. Following the completion of the transaction, the senior vice president now owns 21,086 shares in the company, valued at $1,338,961. This trade represents a 14.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Andrew R. Harrison sold 13,880 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $64.01, for a total value of $888,458.80. Following the sale, the executive vice president now directly owns 20,638 shares in the company, valued at $1,321,038.38. This trade represents a 40.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,473 shares of company stock worth $2,198,342 over the last quarter. Insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALK. JPMorgan Chase & Co. boosted their price objective on shares of Alaska Air Group from $58.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Evercore ISI cut their price target on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, October 3rd. TD Cowen raised their price objective on Alaska Air Group from $68.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group boosted their price objective on Alaska Air Group from $70.00 to $79.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Barclays increased their target price on shares of Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.79.

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.