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

Alaska Air Group (NYSE:ALK) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 3.250-5.250 for the period, compared to the consensus estimate of 4.360. The company issued revenue guidance of -. Alaska Air Group also updated its FY24 guidance to $3.25-5.25 EPS.

Analysts Set New Price Targets

A number of brokerages recently commented on ALK. Deutsche Bank Aktiengesellschaft upgraded Alaska Air Group from a hold rating to a buy rating and upped their target price for the company from $44.00 to $51.00 in a research note on Tuesday, February 20th. UBS Group assumed coverage on Alaska Air Group in a research note on Wednesday, March 20th. They issued a buy rating and a $54.00 target price for the company. TD Cowen increased their price objective on Alaska Air Group from $41.00 to $49.00 and gave the stock a buy rating in a research note on Friday, April 5th. Evercore ISI increased their price objective on Alaska Air Group from $55.00 to $65.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Finally, Susquehanna lowered Alaska Air Group from a positive rating to a neutral rating and increased their price objective for the stock from $39.00 to $40.00 in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Alaska Air Group currently has an average rating of Moderate Buy and an average price target of $57.44.

Alaska Air Group Stock Performance

Shares of NYSE:ALK opened at $42.72 on Thursday. Alaska Air Group has a twelve month low of $30.75 and a twelve month high of $57.18. The firm has a market cap of $5.37 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 0.82 and a beta of 1.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.58 and a current ratio of 0.61. The business has a fifty day moving average of $39.36 and a 200-day moving average of $37.12.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, April 18th. The transportation company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.07). The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.18 billion. Alaska Air Group had a net margin of 2.25% and a return on equity of 14.72%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.62) earnings per share. On average, equities research analysts predict that Alaska Air Group will post 4.41 EPS for the current fiscal year.

Insider Activity at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total value of $249,340.00. Following the transaction, the executive vice president now owns 26,048 shares in the company, valued at $999,201.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alaska Air Group

Hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd boosted its holdings in Alaska Air Group by 416.4% in the first quarter. Covestor Ltd now owns 568 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 458 shares during the last quarter. CENTRAL TRUST Co boosted its holdings in Alaska Air Group by 19.5% during the third quarter. CENTRAL TRUST Co now owns 2,141 shares of the transportation company’s stock worth $84,000 after buying an additional 350 shares during the last quarter. McIlrath & Eck LLC boosted its holdings in Alaska Air Group by 12.2% during the fourth quarter. McIlrath & Eck LLC now owns 2,149 shares of the transportation company’s stock worth $92,000 after buying an additional 234 shares during the last quarter. Advisory Services Network LLC boosted its holdings in Alaska Air Group by 54.1% during the fourth quarter. Advisory Services Network LLC now owns 2,452 shares of the transportation company’s stock worth $96,000 after buying an additional 861 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in Alaska Air Group by 19.9% during the first quarter. Geneos Wealth Management Inc. now owns 1,811 shares of the transportation company’s stock worth $105,000 after buying an additional 300 shares during the last quarter. Institutional investors own 81.90% of the company’s stock.

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.