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

Alaska Air Group (NYSE:ALK) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 4.250-4.500 for the period, compared to the consensus estimate of 4.260. The company issued revenue guidance of -. Alaska Air Group also updated its Q4 2024 guidance to 0.400-0.500 EPS.

Analyst Upgrades and Downgrades

ALK has been the topic of a number of research reports. Melius Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Monday, October 28th. Citigroup raised their price objective on Alaska Air Group from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Evercore ISI decreased their target price 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. UBS Group reiterated a “buy” rating and set a $72.00 target price on shares of Alaska Air Group in a report on Tuesday, November 26th. Finally, TD Cowen upped their price target on Alaska Air Group from $68.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.86.

Alaska Air Group Trading Up 1.6 %

ALK opened at $66.02 on Friday. The stock has a market capitalization of $8.38 billion, a PE ratio of 26.62, a P/E/G ratio of 1.24 and a beta of 1.60. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. Alaska Air Group has a 12-month low of $32.62 and a 12-month high of $66.81. The firm’s fifty day moving average price is $52.60 and its 200 day moving average price is $43.79.

Alaska Air Group (NYSE:ALK) last issued 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. The business had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.83 earnings per share. As a group, research analysts expect that Alaska Air Group will post 4.3 EPS for the current fiscal year.

Insider Transactions at Alaska Air Group

In other Alaska Air Group news, CFO Shane R. Tackett sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $63.56, for a total value of $317,800.00. Following the transaction, the chief financial officer now owns 27,362 shares of the company’s stock, valued at $1,739,128.72. This trade represents a 15.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Muehlen Constance E. Von sold 4,000 shares of Alaska Air Group stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $63.09, for a total value of $252,360.00. Following the completion of the transaction, the chief operating officer now owns 12,162 shares of the company’s stock, valued at approximately $767,300.58. The trade was a 24.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,473 shares of company stock worth $2,198,342. 0.68% of the stock is currently owned by corporate insiders.

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.