Q2 2024 EPS Estimates for Alaska Air Group, Inc. Decreased by Analyst (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALK) – Stock analysts at Zacks Research dropped their Q2 2024 earnings per share (EPS) estimates for Alaska Air Group in a research report issued on Tuesday, June 11th. Zacks Research analyst M. Basu now expects that the transportation company will post earnings of $2.25 per share for the quarter, down from their previous estimate of $2.33. The consensus estimate for Alaska Air Group’s current full-year earnings is $4.69 per share. Zacks Research also issued estimates for Alaska Air Group’s Q3 2024 earnings at $2.23 EPS, Q4 2024 earnings at $0.97 EPS, FY2024 earnings at $4.53 EPS, Q1 2025 earnings at $1.38 EPS, Q2 2025 earnings at $1.52 EPS, Q3 2025 earnings at $1.45 EPS, Q4 2025 earnings at $1.50 EPS, FY2025 earnings at $5.86 EPS, Q1 2026 earnings at $1.65 EPS and FY2026 earnings at $7.19 EPS.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, April 18th. The transportation company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($1.09) by $0.17. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.18 billion. Alaska Air Group had a return on equity of 13.54% and a net margin of 2.34%. Alaska Air Group’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.62) earnings per share.

Other analysts have also issued research reports about the company. Bank of America upped 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, April 19th. Wolfe Research raised 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 note on Friday, May 17th. Deutsche Bank Aktiengesellschaft raised Alaska Air Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $44.00 to $51.00 in a research note on Tuesday, February 20th. StockNews.com raised Alaska Air Group from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Finally, UBS Group initiated coverage on Alaska Air Group in a research note on Wednesday, March 20th. They set a “buy” rating and a $54.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.60.

Alaska Air Group Stock Down 1.7 %

Shares of ALK opened at $40.33 on Thursday. The firm has a market cap of $5.12 billion, a P/E ratio of 21.06, a P/E/G ratio of 0.56 and a beta of 1.61. The stock has a 50 day simple moving average of $42.74 and a two-hundred day simple moving average of $39.57. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.65 and a quick ratio of 0.63. Alaska Air Group has a 1 year low of $30.75 and a 1 year high of $57.18.

Hedge Funds Weigh In On Alaska Air Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Alaska Air Group by 0.3% during the third quarter. Vanguard Group Inc. now owns 14,461,295 shares of the transportation company’s stock valued at $536,225,000 after acquiring an additional 47,871 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Alaska Air Group by 13.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,439,909 shares of the transportation company’s stock worth $212,543,000 after purchasing an additional 660,455 shares in the last quarter. Boston Partners raised its holdings in Alaska Air Group by 4.1% in the first quarter. Boston Partners now owns 3,966,594 shares of the transportation company’s stock worth $170,533,000 after purchasing an additional 155,403 shares in the last quarter. Invesco Ltd. raised its holdings in Alaska Air Group by 18.5% in the third quarter. Invesco Ltd. now owns 3,447,347 shares of the transportation company’s stock worth $127,828,000 after purchasing an additional 537,147 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Alaska Air Group by 16.3% in the third quarter. Wellington Management Group LLP now owns 2,554,257 shares of the transportation company’s stock worth $94,712,000 after purchasing an additional 358,749 shares in the last quarter. Institutional investors own 81.90% of the company’s stock.

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.