Alaska Air Group (NYSE:ALK) Issues Earnings Results, Beats Expectations By $0.03 EPS

Alaska Air Group (NYSE:ALK) released its quarterly earnings results on Thursday. The transportation company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.03, Briefing.com reports. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.83 EPS. Alaska Air Group updated its FY 2024 guidance to 4.000- EPS and its Q4 2024 guidance to 0.200-0.400 EPS.

Alaska Air Group Stock Performance

ALK traded up $1.19 on Friday, hitting $49.10. 1,568,933 shares of the company’s stock were exchanged, compared to its average volume of 2,268,734. 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 fifty day moving average of $41.92 and a two-hundred day moving average of $40.80. Alaska Air Group has a twelve month low of $31.44 and a twelve month high of $50.16. The firm has a market cap of $6.19 billion, a PE ratio of 27.84, a P/E/G ratio of 0.73 and a beta of 1.60.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Citigroup dropped their target price on 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. Melius upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Monday. Morgan Stanley reduced their target price on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Evercore ISI decreased their price target on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, October 3rd. Finally, Barclays initiated coverage on shares of Alaska Air Group in a report on Monday, October 21st. They issued an “overweight” rating and a $55.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.17.

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.