Alaska Air Group (NYSE:ALK) Issues FY 2024 Earnings Guidance

Alaska Air Group (NYSE:ALK) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 4.000- for the period, compared to the consensus earnings per share estimate of 4.380. The company issued revenue guidance of -. Alaska Air Group also updated its Q4 2024 guidance to 0.200-0.400 EPS.

Analyst Ratings Changes

A number of research firms recently commented on ALK. Citigroup dropped 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. Bank of America lifted their price objective on Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Morgan Stanley dropped 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. TD Cowen dropped their price objective on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, Evercore ISI dropped their price objective on 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. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.17.

Alaska Air Group Trading Up 2.8 %

ALK traded up $1.32 during midday trading on Friday, hitting $49.23. The company’s stock had a trading volume of 3,632,444 shares, compared to its average volume of 2,278,467. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. Alaska Air Group has a 52-week low of $31.44 and a 52-week high of $50.16. The firm has a market cap of $6.21 billion, a P/E ratio of 28.62, a PEG ratio of 0.73 and a beta of 1.60. The firm has a 50-day moving average price of $42.20 and a two-hundred day moving average price of $40.86.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the previous year, the business earned $1.83 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, research analysts anticipate that Alaska Air Group will post 4.24 earnings per share for the current year.

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.