Research Analysts Offer Predictions for Alaska Air Group, Inc.’s FY2024 Earnings (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALK) – Stock analysts at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for Alaska Air Group in a report issued on Tuesday, July 30th. Zacks Research analyst M. Basu now anticipates that the transportation company will post earnings of $4.19 per share for the year, down from their prior forecast of $4.50. The consensus estimate for Alaska Air Group’s current full-year earnings is $4.09 per share. Zacks Research also issued estimates for Alaska Air Group’s Q4 2024 earnings at $0.96 EPS, Q2 2026 earnings at $1.76 EPS and FY2026 earnings at $7.46 EPS.

Other equities research analysts also recently issued reports about the company. Morgan Stanley decreased their price objective on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. StockNews.com raised Alaska Air Group from a “sell” rating to a “hold” rating in a report on Friday, April 19th. TD Cowen decreased their price objective on Alaska Air Group from $58.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Bank of America lifted their price objective on Alaska Air Group from $50.00 to $56.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, Susquehanna decreased their price objective on Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.60.

Alaska Air Group Trading Down 5.0 %

Shares of ALK opened at $34.52 on Thursday. Alaska Air Group has a 12-month low of $30.75 and a 12-month high of $47.56. The company has a quick ratio of 0.63, a current ratio of 0.65 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 18.46, a P/E/G ratio of 0.70 and a beta of 1.60. The stock’s 50-day moving average price is $39.82 and its 200 day moving average price is $39.90.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.19. Alaska Air Group had a return on equity of 11.97% and a net margin of 2.14%. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the company posted $3.00 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALK. Boston Partners lifted its holdings in Alaska Air Group by 64.6% during the 4th quarter. Boston Partners now owns 3,811,191 shares of the transportation company’s stock worth $148,861,000 after buying an additional 1,495,311 shares in the last quarter. Capital Research Global Investors bought a new stake in shares of Alaska Air Group during the 1st quarter valued at $36,993,000. Dimensional Fund Advisors LP raised its position in shares of Alaska Air Group by 13.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,439,909 shares of the transportation company’s stock valued at $212,543,000 after acquiring an additional 660,455 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in shares of Alaska Air Group by 238.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 869,045 shares of the transportation company’s stock valued at $33,954,000 after acquiring an additional 612,575 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Alaska Air Group by 4,198.3% during the 4th quarter. Franklin Resources Inc. now owns 571,589 shares of the transportation company’s stock valued at $22,332,000 after acquiring an additional 558,291 shares during the last quarter. Institutional investors and hedge funds 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.