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

Alaska Air Group (NYSE:ALK) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.250-5.250 for the period, compared to the consensus EPS 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

A number of equities research analysts recently issued reports on the stock. Evercore ISI upped their price objective on shares of Alaska Air Group from $55.00 to $65.00 and gave the company an outperform rating in a report on Thursday, April 4th. UBS Group initiated coverage on shares of Alaska Air Group in a report on Wednesday, March 20th. They set a buy rating and a $54.00 price target for the company. StockNews.com upgraded Alaska Air Group from a sell rating to a hold rating in a report on Friday. Bank of America raised 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. Finally, Susquehanna lifted their target price on Alaska Air Group from $40.00 to $42.00 and gave the company a neutral rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $57.85.

Alaska Air Group Price Performance

ALK opened at $45.02 on Friday. The stock’s 50-day moving average price is $39.68 and its 200 day moving average price is $37.22. Alaska Air Group has a 12-month low of $30.75 and a 12-month high of $57.18. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 0.89 and a beta of 1.63. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 0.85.

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

Insiders Place Their Bets

In other news, EVP Andrew R. Harrison sold 6,500 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total transaction of $249,340.00. Following the sale, the executive vice president now owns 26,048 shares of the company’s stock, valued at $999,201.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd boosted its holdings in Alaska Air Group by 416.4% in the first quarter. Covestor Ltd now owns 568 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 458 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Alaska Air Group by 19.9% in the first quarter. Geneos Wealth Management Inc. now owns 1,811 shares of the transportation company’s stock valued at $105,000 after purchasing an additional 300 shares during the period. CENTRAL TRUST Co boosted its holdings in Alaska Air Group by 19.5% in the third quarter. CENTRAL TRUST Co now owns 2,141 shares of the transportation company’s stock valued at $84,000 after purchasing an additional 350 shares during the period. McIlrath & Eck LLC lifted its holdings in Alaska Air Group by 12.2% during the 4th quarter. McIlrath & Eck LLC now owns 2,149 shares of the transportation company’s stock worth $92,000 after buying an additional 234 shares during the last quarter. Finally, Advisory Services Network LLC lifted its holdings in Alaska Air Group by 54.1% during the 4th quarter. Advisory Services Network LLC now owns 2,452 shares of the transportation company’s stock worth $96,000 after buying an additional 861 shares during the last quarter. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

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.