Alaska Air Group (NYSE:ALK) Releases Quarterly Earnings Results

Alaska Air Group (NYSE:ALK) released its earnings results on Thursday. The transportation company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03, Briefing.com reports. 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 for the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the firm posted $1.83 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. 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 Trading Up 2.8 %

Shares of ALK stock traded up $1.35 on Friday, reaching $49.26. The company had a trading volume of 1,972,868 shares, compared to its average volume of 2,270,639. The stock has a market cap of $6.21 billion, a PE ratio of 27.84, a PEG ratio of 0.73 and a beta of 1.60. The company has a 50-day moving average of $41.92 and a 200-day moving average of $40.80. 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 12 month low of $31.44 and a 12 month high of $50.16.

Wall Street Analyst Weigh In

ALK has been the topic of a number of recent research reports. Citigroup dropped their price objective 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 Research upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Monday. Bank of America upped 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 cut their price target 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. Finally, TD Cowen reduced their price target on shares of 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. 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.com, the stock 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.