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

Alaska Air Group (NYSE:ALK - Get Free Report) updated its FY 2024 earnings guidance on Friday. 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.

Alaska Air Group Price Performance

Shares of ALK stock traded up $1.05 during mid-day trading on Friday, hitting $66.02. The company had a trading volume of 7,045,681 shares, compared to its average volume of 2,326,302. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. The stock's 50 day moving average price is $52.17 and its 200-day moving average price is $43.62. Alaska Air Group has a 52-week low of $32.62 and a 52-week high of $66.81. The company has a market capitalization of $8.38 billion, a P/E ratio of 26.62, a P/E/G ratio of 1.24 and a beta of 1.60.

Alaska Air Group (NYSE:ALK - Get Free Report) 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 net margin of 2.99% and a return on equity of 12.81%. The business had revenue of $3.07 billion for the quarter, compared to analysts' expectations of $3 billion. During the same quarter in the previous year, the company earned $1.83 EPS. The business's quarterly revenue was up 8.2% compared to the same quarter last year. Equities research analysts forecast that Alaska Air Group will post 4.3 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on ALK shares. JPMorgan Chase & Co. raised their price target on Alaska Air Group from $58.00 to $85.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Morgan Stanley boosted their price target on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. Susquehanna increased their price objective 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. UBS Group restated a "buy" rating and issued a $72.00 target price on shares of Alaska Air Group in a report on Tuesday, November 26th. Finally, Melius Research upgraded 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 report on Monday, October 28th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $65.86.

Insiders Place Their Bets

In other news, SVP Andrea L. Schneider sold 800 shares of the company's stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $63.89, for a total value of $51,112.00. Following the transaction, the senior vice president now directly owns 20,286 shares in the company, valued at approximately $1,296,072.54. This represents a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Andrew R. Harrison sold 13,880 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $64.01, for a total transaction of $888,458.80. Following the completion of the transaction, the executive vice president now directly owns 20,638 shares in the company, valued at $1,321,038.38. This represents a 40.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,473 shares of company stock valued at $2,198,342 over the last 90 days. Insiders own 0.68% 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.