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 EPS guidance of 4.250-4.500 for the period, compared to the consensus EPS 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.

Alaska Air Group Stock Performance

NYSE:ALK opened at $66.02 on Friday. The stock has a market capitalization of $8.38 billion, a P/E ratio of 26.62, a PEG ratio of 1.24 and a beta of 1.60. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. Alaska Air Group has a fifty-two week low of $32.62 and a fifty-two week high of $66.81. The company has a 50 day moving average price of $52.17 and a 200 day moving average price of $43.62.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the firm posted $1.83 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. Equities research analysts forecast that Alaska Air Group will post 4.3 EPS for the current year.

Analyst Upgrades and Downgrades

ALK has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Alaska Air Group from $58.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Melius raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Monday, October 28th. TD Cowen boosted their price target on shares of Alaska Air Group from $68.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. UBS Group reiterated a “buy” rating and issued a $72.00 price objective on shares of Alaska Air Group in a research note on Tuesday, November 26th. Finally, Susquehanna boosted their target price on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $65.86.

Insider Buying and Selling

In other news, CEO Joseph A. Sprague sold 2,325 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $64.38, for a total value of $149,683.50. Following the completion of the sale, the chief executive officer now directly owns 19,340 shares of the company’s stock, valued at approximately $1,245,109.20. The trade was a 10.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Emily Halverson sold 1,329 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $64.41, for a total value of $85,600.89. Following the transaction, the vice president now owns 7,150 shares in the company, valued at $460,531.50. This represents a 15.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,473 shares of company stock worth $2,198,342 over the last 90 days. 0.68% of the stock is owned by 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.