Alaska Air Group (NYSE:ALK) Issues Q3 Earnings Guidance

Alaska Air Group (NYSE:ALK) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.15-2.25 for the period, compared to the consensus earnings per share estimate of $1.61. Alaska Air Group also updated its Q3 2024 guidance to 2.150-2.250 EPS.

Alaska Air Group Stock Up 4.2 %

Shares of NYSE:ALK opened at $41.64 on Friday. The firm has a market cap of $5.25 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 0.60 and a beta of 1.59. The company has a fifty day simple moving average of $36.88 and a 200 day simple moving average of $39.80. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. Alaska Air Group has a 12-month low of $30.75 and a 12-month high of $46.15.

Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.19. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the firm earned $3.00 EPS. The company’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts anticipate that Alaska Air Group will post 4.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ALK shares. TD Cowen increased their target price on Alaska Air Group from $51.00 to $52.00 and gave the stock a buy rating in a report on Friday. Morgan Stanley reduced their price objective on Alaska Air Group from $75.00 to $70.00 and set an overweight rating on the stock in a research note on Monday, July 22nd. Bank of America lifted their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a buy rating in a report on Friday. Susquehanna dropped their target price on shares of Alaska Air Group from $42.00 to $41.00 and set a neutral rating on the stock in a report on Tuesday, July 16th. Finally, Citigroup reduced their price target on shares of 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. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Alaska Air Group currently has a consensus rating of Moderate Buy and a consensus target price of $54.00.

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.