Alaska Air Group, Inc. (NYSE:ALK) – Stock analysts at Imperial Capital dropped their Q1 2018 earnings per share (EPS) estimates for Alaska Air Group in a note issued to investors on Thursday. Imperial Capital analyst M. Derchin now forecasts that the transportation company will post earnings of ($0.17) per share for the quarter, down from their prior forecast of $0.50. Imperial Capital has a “In-Line” rating and a $66.00 price target on the stock. Imperial Capital also issued estimates for Alaska Air Group’s Q2 2018 earnings at $1.92 EPS, FY2018 earnings at $5.40 EPS and FY2019 earnings at $7.00 EPS.
Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, January 25th. The transportation company reported $0.83 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.83. Alaska Air Group had a return on equity of 24.40% and a net margin of 12.96%. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the business posted $1.56 earnings per share. The firm’s revenue was up 28.7% on a year-over-year basis.
ALK has been the topic of a number of other reports. Morgan Stanley set a $78.00 price target on Alaska Air Group and gave the stock a “buy” rating in a report on Thursday, November 16th. JPMorgan Chase & Co. cut Alaska Air Group from a “neutral” rating to an “underweight” rating and increased their price target for the stock from $65.48 to $67.00 in a report on Tuesday, January 30th. ValuEngine upgraded Alaska Air Group from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Bank of America cut Alaska Air Group from a “buy” rating to a “neutral” rating and set a $84.00 price target on the stock. in a report on Tuesday, January 9th. Finally, Buckingham Research cut their price target on Alaska Air Group from $98.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $87.68.
Alaska Air Group (ALK) opened at $62.74 on Monday. The stock has a market capitalization of $7,944.82, a P/E ratio of 9.74, a price-to-earnings-growth ratio of 3.32 and a beta of 0.85. Alaska Air Group has a twelve month low of $59.25 and a twelve month high of $101.43. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.61.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALK. Thrivent Financial For Lutherans increased its position in shares of Alaska Air Group by 3.1% during the 2nd quarter. Thrivent Financial For Lutherans now owns 4,670 shares of the transportation company’s stock valued at $419,000 after purchasing an additional 140 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Alaska Air Group by 46.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 43,764 shares of the transportation company’s stock valued at $3,928,000 after purchasing an additional 13,950 shares during the last quarter. Stifel Financial Corp increased its position in shares of Alaska Air Group by 51.5% during the 2nd quarter. Stifel Financial Corp now owns 30,172 shares of the transportation company’s stock valued at $2,705,000 after purchasing an additional 10,261 shares during the last quarter. Royal Bank of Canada increased its position in shares of Alaska Air Group by 19.0% during the 2nd quarter. Royal Bank of Canada now owns 366,619 shares of the transportation company’s stock valued at $32,907,000 after purchasing an additional 58,637 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in shares of Alaska Air Group during the 2nd quarter valued at $57,891,000. 87.75% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Andrew R. Harrison sold 540 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $65.53, for a total value of $35,386.20. Following the completion of the sale, the executive vice president now directly owns 20,788 shares of the company’s stock, valued at approximately $1,362,237.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David L. Campbell sold 4,934 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $68.00, for a total value of $335,512.00. Following the completion of the sale, the chief executive officer now directly owns 9,648 shares of the company’s stock, valued at $656,064. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Tuesday, February 20th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.04%. This is a positive change from Alaska Air Group’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, February 16th. Alaska Air Group’s dividend payout ratio is presently 14.49%.
About Alaska Air Group
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.
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