Alaska Air Group (NYSE:ALK) Posts Earnings Results, Beats Estimates By $0.17 EPS

Alaska Air Group (NYSE:ALK) announced its quarterly earnings results on Wednesday. The transportation company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.17, Briefing.com reports. Alaska Air Group had a return on equity of 13.54% and a net margin of 2.34%. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the business posted $3.00 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis.

Alaska Air Group Stock Performance

Shares of NYSE ALK traded down $2.27 during trading on Thursday, reaching $37.76. The stock had a trading volume of 2,066,543 shares, compared to its average volume of 2,175,421. Alaska Air Group has a one year low of $30.75 and a one year high of $54.66. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.63 and a current ratio of 0.65. The stock has a market cap of $4.79 billion, a PE ratio of 20.18, a P/E/G ratio of 0.88 and a beta of 1.60. The firm’s 50 day moving average price is $41.18 and its two-hundred day moving average price is $39.86.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALK. Bank of America lifted their price objective on Alaska Air Group from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. UBS Group assumed coverage on Alaska Air Group in a research note on Wednesday, March 20th. They issued a “buy” rating and a $54.00 price target on the stock. Susquehanna decreased their price target on Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday. Evercore ISI lifted their price objective on Alaska Air Group from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, TD Cowen lifted their price objective on Alaska Air Group from $49.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Alaska Air Group presently has an average rating of “Moderate Buy” and a consensus price target of $55.82.

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.