Alaska Air Group (ALK) Announces Quarterly Earnings, Beats Estimates By $0.23 EPS
Alaska Air Group (NYSE:ALK) posted its quarterly earnings results on Thursday. The company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.23, American Banking and Market News reports. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the company posted $2.09 earnings per share. The company’s revenue for the quarter was up 22.4% on a year-over-year basis.
Shares of Alaska Air Group (NYSE:ALK) opened at 67.03 on Thursday. Alaska Air Group has a 1-year low of $32.69 and a 1-year high of $68.00. The stock’s 50-day moving average is $59.53 and its 200-day moving average is $58.8. The company has a market cap of $4.683 billion and a price-to-earnings ratio of 13.71.
A number of analysts have recently weighed in on ALK shares. Analysts at Imperial Capital upgraded shares of Alaska Air Group from an “in-line” rating to an “outperform” rating in a research note to investors on Tuesday, October 15th. They now have a $70.00 price target on the stock, up previously from $63.00. On the ratings front, analysts at Deutsche Bank downgraded shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, October 8th. They now have a $70.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Alaska Air Group from $64.00 to $67.00 in a research note to investors on Tuesday, September 17th. They now have a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $67.40.
Alaska Air Group, Inc (NYSE:ALK) is the holding company for Alaska Airlines and Horizon Air.
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