Alaska Air Group (NYSE:ALK) Issues Q3 2024 Earnings Guidance

Alaska Air Group (NYSE:ALK) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of 2.250-2.250 for the period, compared to the consensus EPS estimate of 2.020. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

ALK has been the topic of a number of research analyst reports. Citigroup cut their price objective 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. Melius raised 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. Melius Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research note on Monday, October 28th. Susquehanna upped their price target on shares of Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI reduced their price objective on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Alaska Air Group has an average rating of “Moderate Buy” and a consensus target price of $54.17.

Alaska Air Group Price Performance

ALK stock traded down $0.36 during trading on Monday, reaching $48.87. 182,799 shares of the company were exchanged, compared to its average volume of 2,268,628. Alaska Air Group has a 52-week low of $32.00 and a 52-week high of $50.16. 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 market cap of $6.17 billion, a P/E ratio of 19.85, a PEG ratio of 0.74 and a beta of 1.59. The stock’s 50 day moving average price is $42.20 and its 200 day moving average price is $40.86.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.22 by $0.03. Alaska Air Group had a return on equity of 13.10% and a net margin of 2.99%. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter in the previous year, the company earned $1.83 EPS. The company’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, analysts predict that Alaska Air Group will post 4.24 earnings per share for the current fiscal 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.