Zacks Research Weighs in on Alaska Air Group, Inc.’s Q3 2024 Earnings (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALK) – Analysts at Zacks Research lifted their Q3 2024 earnings per share (EPS) estimates for Alaska Air Group in a research report issued on Tuesday, September 17th. Zacks Research analyst M. Basu now anticipates that the transportation company will post earnings of $2.17 per share for the quarter, up from their previous estimate of $1.55. The consensus estimate for Alaska Air Group’s current full-year earnings is $4.17 per share. Zacks Research also issued estimates for Alaska Air Group’s Q4 2024 earnings at $0.91 EPS, FY2024 earnings at $4.71 EPS, Q2 2025 earnings at $2.33 EPS, Q4 2025 earnings at $1.68 EPS and FY2026 earnings at $7.08 EPS.

Several other equities research analysts have also recently weighed in on ALK. Bank of America increased their price target on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Susquehanna dropped their target price on shares of Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Morgan Stanley reduced their price target on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Citigroup dropped their price objective on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, TD Cowen boosted their target price on Alaska Air Group from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Alaska Air Group Stock Down 0.5 %

Shares of Alaska Air Group stock opened at $39.57 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.68. Alaska Air Group has a 52-week low of $30.75 and a 52-week high of $46.15. The company’s 50 day moving average price is $37.07 and its 200-day moving average price is $39.86. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 21.16, a P/E/G ratio of 0.60 and a beta of 1.59.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.19. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the company earned $3.00 EPS. Alaska Air Group’s revenue for the quarter was up 2.1% compared to the same quarter last year.

Institutional Investors Weigh In On Alaska Air Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC grew its position in shares of Alaska Air Group by 6.8% in the 4th quarter. Private Advisor Group LLC now owns 6,209 shares of the transportation company’s stock worth $243,000 after buying an additional 397 shares during the period. Principal Securities Inc. purchased a new stake in Alaska Air Group in the fourth quarter worth about $39,000. Janney Montgomery Scott LLC increased its stake in shares of Alaska Air Group by 4.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 17,221 shares of the transportation company’s stock valued at $673,000 after purchasing an additional 756 shares in the last quarter. Norges Bank purchased a new position in shares of Alaska Air Group during the fourth quarter valued at approximately $13,434,000. Finally, Coldstream Capital Management Inc. boosted its position in shares of Alaska Air Group by 10.2% in the 4th quarter. Coldstream Capital Management Inc. now owns 11,488 shares of the transportation company’s stock worth $449,000 after purchasing an additional 1,068 shares in the last quarter. 81.90% of the stock is owned by hedge funds and other institutional investors.

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.