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

Alaska Air Group (NYSE:ALK) updated its third quarter earnings guidance on Wednesday. The company provided EPS guidance of $1.40-1.60 for the period, compared to the consensus EPS estimate of $2.06. Alaska Air Group also updated its FY 2024 guidance to 3.500-4.500 EPS.

Analysts Set New Price Targets

A number of research firms have issued reports on ALK. TD Cowen raised their target price on Alaska Air Group from $49.00 to $58.00 and gave the stock a buy rating in a research report on Friday, April 19th. Bank of America raised their target price on Alaska Air Group from $50.00 to $56.00 and gave the stock a buy rating in a research report on Friday, April 19th. Wolfe Research raised Alaska Air Group from a peer perform rating to an outperform rating and set a $55.00 target price for the company in a research report on Friday, May 17th. Evercore ISI raised their target price on Alaska Air Group from $55.00 to $65.00 and gave the stock an outperform rating in a research report on Thursday, April 4th. Finally, StockNews.com raised Alaska Air Group from a sell rating to a hold rating in a research report on Friday, April 19th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $55.82.

Alaska Air Group Price Performance

NYSE:ALK opened at $37.93 on Friday. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of 20.28, a P/E/G ratio of 0.88 and a beta of 1.60. Alaska Air Group has a 52-week low of $30.75 and a 52-week high of $54.66. The stock has a fifty day moving average of $40.93 and a 200 day moving average of $39.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.63 and a current ratio of 0.65.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Wednesday, July 17th. The transportation company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.17. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.94 billion. Alaska Air Group had a return on equity of 11.97% and a net margin of 2.14%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $3.00 earnings per share. On average, research analysts expect that Alaska Air Group will post 4.19 EPS for the current fiscal year.

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.