Zacks Research Comments on Alaska Air Group, Inc.'s Q3 2024 Earnings (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALK - Free Report) - Zacks Research increased their Q3 2024 earnings per share (EPS) estimates for Alaska Air Group in a research note issued to investors on Tuesday, September 17th. Zacks Research analyst M. Basu now expects that the transportation company will earn $2.17 per share for the quarter, up from their prior estimate of $1.55. The consensus estimate for Alaska Air Group's current full-year earnings is $4.17 per share. Zacks Research also issued estimates for Alaska Air Group's Q4 2024 earnings at $0.91 EPS, FY2024 earnings at $4.71 EPS, Q2 2025 earnings at $2.33 EPS, Q4 2025 earnings at $1.68 EPS and FY2026 earnings at $7.08 EPS.

A number of other equities research analysts also recently issued reports on the stock. Bank of America boosted their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, September 13th. Citigroup reduced their price target on Alaska Air Group from $51.00 to $48.00 and set a "buy" rating for the company in a research report on Thursday, August 29th. Morgan Stanley lowered their price objective on Alaska Air Group from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Monday, July 22nd. TD Cowen increased their target price on shares of Alaska Air Group from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Friday, September 13th. Finally, Susquehanna lowered their price target on shares of Alaska Air Group from $42.00 to $41.00 and set a "neutral" rating on the stock in a report on Tuesday, July 16th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $54.00.

Alaska Air Group Stock Performance

ALK stock traded up $0.46 during midday trading on Friday, reaching $40.02. 3,312,826 shares of the company's stock traded hands, compared to its average volume of 2,248,056. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. Alaska Air Group has a 52-week low of $30.75 and a 52-week high of $46.15. The stock has a market cap of $5.08 billion, a P/E ratio of 21.21, a PEG ratio of 0.60 and a beta of 1.59. The stock's 50-day moving average is $37.10 and its 200 day moving average is $39.86.

Alaska Air Group (NYSE:ALK - Get Free Report) last released its quarterly earnings results on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.36 by $0.19. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.94 billion. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.00 EPS.

Hedge Funds Weigh In On Alaska Air Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jade Capital Advisors LLC bought a new position in Alaska Air Group during the 4th quarter valued at about $1,954,000. Pinebridge Investments L.P. bought a new stake in shares of Alaska Air Group during the 4th quarter worth approximately $1,144,000. Interval Partners LP boosted its holdings in Alaska Air Group by 100.0% during the 1st quarter. Interval Partners LP now owns 80,000 shares of the transportation company's stock valued at $3,439,000 after acquiring an additional 40,000 shares during the period. Capital Research Global Investors bought a new position in Alaska Air Group in the 1st quarter valued at $36,993,000. Finally, Raymond James & Associates lifted its position in shares of Alaska Air Group by 13.5% during the second quarter. Raymond James & Associates now owns 283,581 shares of the transportation company's stock worth $11,457,000 after purchasing an additional 33,717 shares during the last quarter. 81.90% of the stock is owned by institutional investors.

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.