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

Alaska Air Group (NYSE:ALK) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.150-2.250 for the period, compared to the consensus estimate of 1.610. The company issued revenue guidance of -. Alaska Air Group also updated its Q3 guidance to $2.15-2.25 EPS.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Susquehanna decreased their price target on shares of Alaska Air Group from $42.00 to $41.00 and set a neutral rating on the stock in a research note on Tuesday, July 16th. TD Cowen raised their target price on shares of Alaska Air Group from $51.00 to $52.00 and gave the stock a buy rating in a report on Friday. Bank of America boosted their price target on Alaska Air Group from $50.00 to $55.00 and gave the company a buy rating in a research note on Friday. Morgan Stanley lowered 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. Finally, Wolfe Research upgraded 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 report on Friday, May 17th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $54.00.

Alaska Air Group Stock Up 4.2 %

ALK stock opened at $41.64 on Friday. The firm has a 50-day moving average price of $36.88 and a 200-day moving average price of $39.79. Alaska Air Group has a 12 month low of $30.75 and a 12 month high of $46.15. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $5.25 billion, a P/E ratio of 22.27, a price-to-earnings-growth ratio of 0.60 and a beta of 1.59.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, beating 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 business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the firm earned $3.00 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Alaska Air Group will post 4.17 EPS 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.