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

Alaska Air Group (NYSE:ALK) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 4.000- for the period, compared to the consensus earnings per share estimate of 4.380. The company issued revenue guidance of -. Alaska Air Group also updated its Q4 2024 guidance to 0.200-0.400 EPS.

Wall Street Analysts Forecast Growth

ALK has been the subject of several recent research reports. Melius Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Monday, October 28th. Citigroup decreased 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. Evercore ISI cut their price objective on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, October 3rd. Morgan Stanley decreased 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 report on Monday, July 22nd. Finally, Bank of America raised their price target on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, September 13th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $54.17.

Alaska Air Group Trading Up 2.8 %

Alaska Air Group stock traded up $1.32 during trading hours on Friday, reaching $49.23. The stock had a trading volume of 3,632,444 shares, compared to its average volume of 2,278,467. Alaska Air Group has a 52 week low of $31.44 and a 52 week high of $50.16. The stock has a market cap of $6.21 billion, a PE ratio of 28.62, a PEG ratio of 0.73 and a beta of 1.60. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.66. The company has a fifty day simple moving average of $42.20 and a 200-day simple moving average of $40.86.

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

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.