Q3 2024 EPS Estimates for Alaska Air Group, Inc. Boosted by Zacks Research (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALK) – Research analysts at Zacks Research boosted their Q3 2024 earnings per share estimates for Alaska Air Group in a research note issued to investors on Wednesday, September 25th. Zacks Research analyst M. Basu now expects that the transportation company will post earnings per share of $2.20 for the quarter, up from their previous estimate of $2.17. The consensus estimate for Alaska Air Group’s current full-year earnings is $4.62 per share. Zacks Research also issued estimates for Alaska Air Group’s FY2024 earnings at $4.76 EPS, Q2 2025 earnings at $2.49 EPS and Q4 2025 earnings at $1.55 EPS.

Alaska Air Group (NYSE:ALK) last released its quarterly 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. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.94 billion. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. Alaska Air Group’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.00 earnings per share.

A number of other equities research analysts also recently commented on the company. Susquehanna lowered their price objective on Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. TD Cowen lifted their price objective on Alaska Air Group from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Bank of America lifted their price objective on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Citigroup lowered their price objective on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, Morgan Stanley lowered their price objective on 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. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.00.

Alaska Air Group Stock Performance

Alaska Air Group stock opened at $45.00 on Friday. 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 fifty day moving average of $37.56 and a two-hundred day moving average of $40.10. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 0.54 and a beta of 1.59. Alaska Air Group has a fifty-two week low of $30.75 and a fifty-two week high of $46.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALK. Altshuler Shaham Ltd acquired a new position in Alaska Air Group in the second quarter valued at $28,000. LifeSteps Financial Inc. acquired a new position in shares of Alaska Air Group during the first quarter worth about $65,000. Parallel Advisors LLC lifted its stake in shares of Alaska Air Group by 28.4% during the fourth quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock worth $66,000 after purchasing an additional 373 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Alaska Air Group during the second quarter worth about $69,000. Finally, Halpern Financial Inc. acquired a new position in shares of Alaska Air Group during the second quarter worth about $81,000. Institutional investors and hedge funds own 81.90% of the company’s stock.

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.