Alaska Air Group (NYSE:ALK) Issues Q4 2024 Earnings Guidance

Alaska Air Group (NYSE:ALK) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.200-0.400 for the period, compared to the consensus EPS estimate of 0.600. The company issued revenue guidance of -. Alaska Air Group also updated its FY 2024 guidance to 4.000- EPS.

Alaska Air Group Stock Performance

NYSE:ALK traded up $1.32 during midday trading on Friday, hitting $49.23. The company’s stock had a trading volume of 3,632,444 shares, compared to its average volume of 2,278,467. The firm has a market cap of $6.21 billion, a P/E ratio of 28.62, a P/E/G ratio of 0.73 and a beta of 1.60. Alaska Air Group has a fifty-two week low of $31.44 and a fifty-two week high of $50.16. The firm’s 50 day moving average is $42.20 and its 200-day moving average is $40.86. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.66.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. The business had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3 billion. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $1.83 EPS. Equities analysts anticipate that Alaska Air Group will post 4.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALK has been the subject of a number of recent analyst reports. Evercore ISI decreased their price target on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, October 3rd. Morgan Stanley cut their price target 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. Melius Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research note on Monday, October 28th. Citigroup cut their target price on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Melius upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.17.

About Alaska Air Group

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.