Alaska Air Group (NYSE:ALK) Updates Q3 2024 Earnings Guidance

Alaska Air Group (NYSE:ALK) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 2.150-2.250 for the period, compared to the consensus earnings per share estimate of 1.610. The company issued revenue guidance of -. Alaska Air Group also updated its Q3 guidance to $2.15-2.25 EPS.

Alaska Air Group Price Performance

NYSE:ALK opened at $41.64 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.68. The company has a 50-day moving average of $36.88 and a 200-day moving average of $39.79. Alaska Air Group has a 52 week low of $30.75 and a 52 week high of $46.15. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 0.60 and a beta of 1.59.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.19. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.00 earnings per share. As a group, equities research analysts anticipate that Alaska Air Group will post 4.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on ALK. Citigroup lowered their price target on Alaska Air Group from $51.00 to $48.00 and set a buy rating on the stock in a research report on Thursday, August 29th. Morgan Stanley reduced their target price on shares of Alaska Air Group from $75.00 to $70.00 and set an overweight rating on the stock in a research note on Monday, July 22nd. Wolfe Research upgraded shares of Alaska Air Group from a peer perform rating to an outperform rating and set a $55.00 target price for the company in a research report on Friday, May 17th. TD Cowen raised their price objective on shares of Alaska Air Group from $51.00 to $52.00 and gave the stock a buy rating in a report on Friday. Finally, Susquehanna reduced their target price on Alaska Air Group from $42.00 to $41.00 and set a neutral rating on the stock in a report on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Alaska Air Group presently has an average rating of Moderate Buy and a consensus price target of $54.00.

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.