Brokerages expect Alaska Air Group, Inc. (NYSE:ALK) to report sales of $2.38 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Alaska Air Group’s earnings, with estimates ranging from $2.36 billion to $2.40 billion. Alaska Air Group posted sales of $2.21 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 7.7%. The company is scheduled to report its next earnings report on Thursday, October 24th.
On average, analysts expect that Alaska Air Group will report full-year sales of $8.75 billion for the current fiscal year, with estimates ranging from $8.71 billion to $8.79 billion. For the next financial year, analysts expect that the company will post sales of $9.29 billion, with estimates ranging from $9.15 billion to $9.42 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Alaska Air Group.
Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, July 25th. The transportation company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.06. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Alaska Air Group had a return on equity of 16.28% and a net margin of 6.00%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.66 EPS.
Several equities research analysts have recently issued reports on the company. Macquarie lowered Alaska Air Group from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $79.00 to $63.00 in a research note on Monday, July 29th. Citigroup set a $66.00 price objective on Alaska Air Group and gave the company a “hold” rating in a research note on Friday, July 26th. Imperial Capital reaffirmed an “in-line” rating and issued a $70.00 price objective (up from $68.00) on shares of Alaska Air Group in a research note on Tuesday, August 6th. TheStreet raised Alaska Air Group from a “c” rating to a “b” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley raised their price objective 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $73.36.
NYSE ALK opened at $66.49 on Tuesday. The stock has a market capitalization of $8.01 billion, a PE ratio of 14.91, a P/E/G ratio of 0.51 and a beta of 0.86. The business has a 50 day simple moving average of $61.88 and a two-hundred day simple moving average of $60.81. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.63 and a quick ratio of 0.61. Alaska Air Group has a 1-year low of $53.39 and a 1-year high of $74.83.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Tuesday, August 20th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, August 19th. Alaska Air Group’s dividend payout ratio is currently 31.39%.
In other Alaska Air Group news, VP Kyle B. Levine sold 2,430 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total transaction of $157,950.00. Following the transaction, the vice president now directly owns 8,039 shares in the company, valued at approximately $522,535. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.43% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atria Investments LLC increased its holdings in Alaska Air Group by 63.4% during the 2nd quarter. Atria Investments LLC now owns 5,912 shares of the transportation company’s stock worth $354,000 after purchasing an additional 2,294 shares during the period. BlackRock Inc. increased its holdings in Alaska Air Group by 1.5% during the 2nd quarter. BlackRock Inc. now owns 7,067,885 shares of the transportation company’s stock worth $451,708,000 after purchasing an additional 103,191 shares during the period. Griffin Asset Management Inc. purchased a new position in Alaska Air Group during the 2nd quarter worth $73,000. UBS Group AG increased its holdings in Alaska Air Group by 11.2% during the 2nd quarter. UBS Group AG now owns 486,349 shares of the transportation company’s stock worth $31,082,000 after purchasing an additional 49,116 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. increased its holdings in Alaska Air Group by 1.9% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 20,063 shares of the transportation company’s stock worth $1,282,000 after purchasing an additional 383 shares during the period. Institutional investors own 88.45% of the company’s stock.
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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