$2.28 Billion in Sales Expected for Alaska Air Group, Inc. (ALK) This Quarter

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.

See Also: Why do earnings reports matter?

Get a free copy of the Zacks research report on Alaska Air Group (ALK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Alaska Air Group (NYSE:ALK)

Receive News & Ratings for Alaska Air Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alaska Air Group and related companies with MarketBeat.com's FREE daily email newsletter.