Alaska Air Group (NYSE:ALK) Releases FY 2024 Earnings Guidance

Alaska Air Group (NYSE:ALK) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 3.250-5.250 for the period, compared to the consensus earnings per share estimate of 4.360. The company issued revenue guidance of -. Alaska Air Group also updated its FY24 guidance to $3.25-5.25 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. TD Cowen upped their price target on Alaska Air Group from $49.00 to $58.00 and gave the company a buy rating in a research report on Friday. Melius lowered Alaska Air Group from a buy rating to a hold rating in a report on Monday, January 8th. UBS Group started coverage on Alaska Air Group in a report on Wednesday, March 20th. They set a buy rating and a $54.00 price objective for the company. Evercore ISI boosted their price objective on Alaska Air Group from $55.00 to $65.00 and gave the stock an outperform rating in a report on Thursday, April 4th. Finally, Bank of America upped their target price on Alaska Air Group from $50.00 to $56.00 and gave the stock a buy rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $57.85.

Alaska Air Group Stock Performance

NYSE:ALK opened at $45.02 on Friday. The firm has a market cap of $5.66 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 0.89 and a beta of 1.63. Alaska Air Group has a fifty-two week low of $30.75 and a fifty-two week high of $57.18. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.58 and a current ratio of 0.65. The business has a 50 day moving average price of $39.68 and a 200-day moving average price of $37.22.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Thursday, April 18th. The transportation company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.09) by $0.17. Alaska Air Group had a return on equity of 13.54% and a net margin of 2.34%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the firm earned ($0.62) EPS. Alaska Air Group’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities research analysts predict that Alaska Air Group will post 4.41 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Andrew R. Harrison sold 6,500 shares of Alaska Air Group stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total value of $249,340.00. Following the completion of the sale, the executive vice president now directly owns 26,048 shares in the company, valued at approximately $999,201.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alaska Air Group

Large investors have recently bought and sold shares of the business. Clearbridge Investments LLC bought a new stake in shares of Alaska Air Group during the 1st quarter valued at about $62,390,000. Wellington Management Group LLP bought a new stake in shares of Alaska Air Group during the 1st quarter valued at about $30,293,000. Norges Bank bought a new stake in shares of Alaska Air Group during the 4th quarter valued at about $30,980,000. BlackRock Inc. grew its stake in shares of Alaska Air Group by 9.1% during the 2nd quarter. BlackRock Inc. now owns 7,951,500 shares of the transportation company’s stock valued at $422,861,000 after purchasing an additional 660,917 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in shares of Alaska Air Group by 316.5% during the 4th quarter. Point72 Asset Management L.P. now owns 739,350 shares of the transportation company’s stock valued at $28,886,000 after purchasing an additional 561,850 shares during the period. 81.90% of the stock is currently owned by institutional investors.

Alaska Air Group Company Profile

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.