Alaska Air Group (NYSE:ALK) Releases Q3 2024 Earnings Guidance

Alaska Air Group (NYSE:ALK - Get Free Report) updated its third quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 2.250-2.250 for the period, compared to the consensus earnings per share estimate of 2.020. The company issued revenue guidance of -.

Alaska Air Group Trading Up 2.8 %

Shares of ALK stock traded up $1.34 during trading hours on Friday, hitting $49.25. 3,632,329 shares of the company were exchanged, compared to its average volume of 2,278,467. The company has a 50 day simple moving average of $42.20 and a two-hundred day simple moving average of $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 fifty-two week low of $31.44 and a fifty-two week high of $50.16.

Alaska Air Group (NYSE:ALK - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $2.22 by $0.03. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. The business had revenue of $3.07 billion during the quarter, compared to analysts' expectations of $3 billion. During the same period last year, the company posted $1.83 earnings per share. The business's quarterly revenue was up 8.2% on a year-over-year basis. Equities analysts anticipate that Alaska Air Group will post 4.24 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ALK. Melius raised Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 price target on the stock in a research note on Monday. Bank of America upped their target price on Alaska Air Group from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, September 13th. Susquehanna lifted their price target 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. Citigroup lowered their price objective on shares of Alaska Air Group from $51.00 to $48.00 and set a "buy" rating on the stock in a report on Thursday, August 29th. Finally, Barclays started coverage on shares of Alaska Air Group in a research note on Monday, October 21st. They issued an "overweight" rating and a $55.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock 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.