Alaska Air Group (NYSE:ALK) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

by · The Markets Daily

Alaska Air Group (NYSE:ALK – Get Free Report) announced its quarterly earnings data on Thursday. The transportation company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03, Briefing.com reports. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3 billion. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.83 earnings per share. 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 2.5 %

Shares of ALK stock traded up $1.19 during trading hours on Friday, reaching $49.10. The company had a trading volume of 1,568,933 shares, compared to its average volume of 2,268,734. The company has a market capitalization of $6.19 billion, a P/E ratio of 27.84, a price-to-earnings-growth 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. The stock’s fifty day simple moving average is $41.92 and its 200 day simple moving average is $40.80.

Analysts Set New Price Targets

A number of research firms have recently commented on ALK. Bank of America upped 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 note on Friday, September 13th. Melius Research raised shares of 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. Morgan Stanley decreased their price target on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Citigroup dropped their price objective on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, TD Cowen reduced their target price on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.17.

View Our Latest Report on ALK

Alaska Air Group Company Profile

(Get Free Report)

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.

See Also