Equities analysts predict that Alaska Air Group, Inc. (NYSE:ALK) will announce $2.28 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Alaska Air Group’s earnings, with the lowest sales estimate coming in at $2.25 billion and the highest estimate coming in at $2.32 billion. Alaska Air Group reported sales of $2.16 billion in the same quarter last year, which indicates a positive year over year growth rate of 5.6%. The firm is expected to issue its next quarterly earnings results on Thursday, July 25th.
On average, analysts expect that Alaska Air Group will report full year sales of $8.69 billion for the current financial year, with estimates ranging from $8.63 billion to $8.84 billion. For the next year, analysts forecast that the firm will report sales of $9.26 billion, with estimates ranging from $9.08 billion to $9.38 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Alaska Air Group.
Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, April 25th. The transportation company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.04. Alaska Air Group had a net margin of 5.26% and a return on equity of 14.97%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the company posted $0.14 earnings per share. Alaska Air Group’s revenue was up 2.4% on a year-over-year basis.
A number of equities analysts have issued reports on ALK shares. Citigroup cut their target price on shares of Alaska Air Group from $74.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. Morgan Stanley raised their target price on Alaska Air Group from $76.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Zacks Investment Research downgraded Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Buckingham Research reduced their price target on shares of Alaska Air Group from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, March 8th. Finally, Vertical Research started coverage on shares of Alaska Air Group in a research report on Monday, February 4th. They set a “hold” rating on the stock. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Alaska Air Group presently has an average rating of “Buy” and a consensus price target of $76.43.
In other Alaska Air Group news, VP Brandon Pedersen sold 4,026 shares of Alaska Air Group stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $62.00, for a total value of $249,612.00. Following the transaction, the vice president now owns 26,524 shares in the company, valued at $1,644,488. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Andrew R. Harrison sold 1,600 shares of Alaska Air Group stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $61.53, for a total transaction of $98,448.00. Following the completion of the transaction, the executive vice president now owns 20,567 shares in the company, valued at approximately $1,265,487.51. The disclosure for this sale can be found here. Insiders have sold 10,326 shares of company stock worth $642,421 in the last ninety days. Corporate insiders own 0.43% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. lifted its stake in shares of Alaska Air Group by 1,307.7% in the 1st quarter. Victory Capital Management Inc. now owns 1,947,067 shares of the transportation company’s stock valued at $109,269,000 after purchasing an additional 1,808,754 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its position in Alaska Air Group by 65.0% during the first quarter. Thompson Siegel & Walmsley LLC now owns 1,812,028 shares of the transportation company’s stock worth $101,691,000 after acquiring an additional 713,959 shares during the period. Diamond Hill Capital Management Inc. increased its position in Alaska Air Group by 34.6% during the first quarter. Diamond Hill Capital Management Inc. now owns 2,257,103 shares of the transportation company’s stock worth $126,669,000 after acquiring an additional 579,823 shares during the period. Norges Bank bought a new position in Alaska Air Group in the 4th quarter valued at about $31,868,000. Finally, Dimensional Fund Advisors LP increased its holdings in Alaska Air Group by 21.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,883,681 shares of the transportation company’s stock valued at $175,468,000 after buying an additional 503,977 shares during the period. Hedge funds and other institutional investors own 87.95% of the company’s stock.
NYSE ALK traded down $0.77 during trading hours on Friday, reaching $60.59. The company’s stock had a trading volume of 722,530 shares, compared to its average volume of 1,563,817. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 0.44. Alaska Air Group has a 52 week low of $53.39 and a 52 week high of $74.83. The stock has a market capitalization of $7.49 billion, a P/E ratio of 13.59, a P/E/G ratio of 0.64 and a beta of 0.84.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Tuesday, May 21st will be given a dividend of $0.35 per share. The ex-dividend date is Monday, May 20th. This represents a $1.40 annualized dividend and a dividend yield of 2.31%. Alaska Air Group’s payout ratio is 31.39%.
About Alaska Air Group
Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.
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