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

Alaska Air Group (NYSE:ALK) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 4.250-4.500 for the period, compared to the consensus estimate of 4.260. The company issued revenue guidance of -. Alaska Air Group also updated its Q4 2024 guidance to 0.400-0.500 EPS.

Analyst Upgrades and Downgrades

Several research firms recently commented on ALK. Evercore ISI decreased their price objective on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, October 3rd. UBS Group reaffirmed a “buy” rating and issued a $72.00 price target on shares of Alaska Air Group in a report on Tuesday, November 26th. Susquehanna raised their price target on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on shares of Alaska Air Group from $58.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Melius Research upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Alaska Air Group currently has an average rating of “Moderate Buy” and an average price target of $65.86.

Alaska Air Group Stock Down 0.5 %

Shares of ALK opened at $64.63 on Friday. Alaska Air Group has a fifty-two week low of $32.62 and a fifty-two week high of $65.62. The company’s fifty day moving average is $52.17 and its two-hundred day moving average is $43.62. The firm has a market cap of $8.20 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.83 earnings per share. Analysts forecast that Alaska Air Group will post 4.3 earnings per share for the current year.

Insider Transactions at Alaska Air Group

In other Alaska Air Group news, CFO Shane R. Tackett sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $63.56, for a total value of $317,800.00. Following the completion of the sale, the chief financial officer now directly owns 27,362 shares in the company, valued at $1,739,128.72. This represents a 15.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Muehlen Constance E. Von sold 4,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $63.09, for a total value of $252,360.00. Following the completion of the sale, the chief operating officer now directly owns 12,162 shares in the company, valued at $767,300.58. This represents a 24.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,473 shares of company stock worth $2,198,342. 0.68% of the stock is currently owned by corporate insiders.

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.