Alaska Air Group (NYSE:ALK) Releases Earnings Results, Beats Estimates By $0.03 EPS

Alaska Air Group (NYSE:ALK - Get Free Report) released its earnings results on Thursday. The transportation company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.22 by $0.03, Briefing.com reports. The firm had revenue of $3.07 billion for the quarter, compared to analysts' expectations of $3 billion. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. Alaska Air Group's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $1.83 EPS. Alaska Air Group updated its FY 2024 guidance to 4.000- EPS and its Q4 2024 guidance to 0.200-0.400 EPS.

Alaska Air Group Stock Up 2.8 %

NYSE:ALK traded up $1.34 during trading hours on Friday, hitting $49.25. 3,632,329 shares of the company's stock traded hands, compared to its average volume of 2,278,467. The stock's fifty day moving average price is $42.20 and its two-hundred day moving average price is $40.86. The firm has a market cap of $6.21 billion, a P/E ratio of 28.63, a P/E/G ratio of 0.73 and a beta of 1.60. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.68. Alaska Air Group has a twelve month low of $31.44 and a twelve month high of $50.16.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ALK shares. Bank of America lifted 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. Barclays assumed coverage on shares of Alaska Air Group in a research report on Monday, October 21st. They issued an "overweight" rating and a $55.00 price target on the stock. Melius upgraded shares of Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 price objective for the company in a research report on Monday. Susquehanna lifted their price objective on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Finally, TD Cowen cut their target price on shares of Alaska Air Group from $52.00 to $50.00 and set a "buy" rating for the company in a research note on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $54.17.

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.