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

Alaska Air Group (NYSE:ALK) posted its quarterly earnings data on Thursday. The transportation company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03, Briefing.com reports. The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3 billion. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $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 Up 2.8 %

Shares of NYSE:ALK opened at $49.23 on Friday. Alaska Air Group has a 52-week low of $31.44 and a 52-week high of $50.16. The company has a market capitalization of $6.21 billion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 0.73 and a beta of 1.60. 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 company has a fifty day moving average of $42.20 and a 200-day moving average of $40.86.

Analyst Ratings Changes

A number of brokerages recently commented on ALK. Melius upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Monday, October 28th. Citigroup decreased their target price on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Barclays started coverage on shares of Alaska Air Group in a report on Monday, October 21st. They set an “overweight” rating and a $55.00 price target for the company. TD Cowen decreased their price objective on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Finally, Susquehanna upped their target price on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.17.

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.