Alaska Air Group (NYSE:ALK) Releases Q3 2024 Earnings Guidance

Alaska Air Group (NYSE:ALK) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 2.250-2.250 for the period, compared to the consensus earnings per share estimate of 2.020. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Morgan Stanley decreased their target price on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Melius Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Monday, October 28th. Barclays began coverage on Alaska Air Group in a research report on Monday, October 21st. They set an “overweight” rating and a $55.00 price target for the company. Bank of America lifted their target price 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. Finally, Melius raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Monday, October 28th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Alaska Air Group presently has an average rating of “Moderate Buy” and an average target price of $54.17.

Alaska Air Group Price Performance

Shares of NYSE:ALK traded down $0.36 during trading on Monday, reaching $48.87. The stock had a trading volume of 190,353 shares, compared to its average volume of 2,268,664. The business has a fifty day moving average price of $42.20 and a 200-day moving average price of $40.86. Alaska Air Group has a 1-year low of $32.00 and a 1-year high of $50.16. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.68. The stock has a market cap of $6.17 billion, a PE ratio of 19.85, a PEG ratio of 0.74 and a beta of 1.59.

Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 13.10%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.83 earnings per share. On average, equities analysts forecast that Alaska Air Group will post 4.24 earnings per share for the current fiscal year.

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.