Q3 2024 Earnings Forecast for Alaska Air Group, Inc. (NYSE:ALK) Issued By Zacks Research

Alaska Air Group, Inc. (NYSE:ALK - Free Report) - Research analysts at Zacks Research boosted their Q3 2024 earnings estimates for Alaska Air Group in a research report issued to clients and investors on Wednesday, September 25th. Zacks Research analyst M. Basu now anticipates that the transportation company will post earnings per share of $2.20 for the quarter, up from their prior forecast of $2.17. The consensus estimate for Alaska Air Group's current full-year earnings is $4.62 per share. Zacks Research also issued estimates for Alaska Air Group's FY2024 earnings at $4.76 EPS, Q2 2025 earnings at $2.49 EPS and Q4 2025 earnings at $1.55 EPS.

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

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

Alaska Air Group Trading Up 0.2 %

Shares of Alaska Air Group stock traded up $0.10 on Friday, hitting $44.55. The stock had a trading volume of 940,331 shares, compared to its average volume of 2,259,674. The stock has a 50 day moving average of $37.41 and a 200 day moving average of $40.04. The firm has a market capitalization of $5.65 billion, a P/E ratio of 23.80, a PEG ratio of 0.54 and a beta of 1.59. Alaska Air Group has a twelve month low of $30.75 and a twelve month high of $46.15. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.68.

Hedge Funds Weigh In On Alaska Air Group

Several institutional investors have recently made changes to their positions in ALK. Capital Research Global Investors acquired a new stake in Alaska Air Group in the 1st quarter valued at $36,993,000. Frontier Capital Management Co. LLC grew its holdings in shares of Alaska Air Group by 238.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 869,045 shares of the transportation company's stock valued at $33,954,000 after buying an additional 612,575 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Alaska Air Group by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company's stock worth $262,789,000 after acquiring an additional 357,907 shares in the last quarter. Norges Bank bought a new stake in shares of Alaska Air Group during the fourth quarter worth about $13,434,000. Finally, Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Alaska Air Group in the 2nd quarter worth about $11,475,000. Institutional investors and hedge funds 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.