Alaska Air Group Inc. (ALK) Scheduled to Post Quarterly Earnings on Thursday
Alaska Air Group Inc. (NYSE:ALK) will issue its Q316 quarterly earnings data on Thursday, October 20th. Analysts expect the company to announce earnings of $2.07 per share and revenue of $1.56 billion for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.
Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, July 21st. The company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.03. Alaska Air Group had a net margin of 15.86% and a return on equity of 36.88%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business earned $1.76 EPS. The firm’s revenue was up 4.0% on a year-over-year basis. On average, analysts expect Alaska Air Group to post $7.05 EPS for the current fiscal year and $7.14 EPS for the next fiscal year.
Shares of Alaska Air Group Inc. (NYSE:ALK) opened at 72.11 on Wednesday. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of 9.98 and a beta of 0.89. Alaska Air Group Inc. has a 12 month low of $54.51 and a 12 month high of $87.17. The stock’s 50 day moving average is $68.17 and its 200 day moving average is $67.54.
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In other news, Chairman Bradley D. Tilden sold 2,000 shares of the stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $68.88, for a total value of $137,760.00. Following the sale, the chairman now directly owns 23,900 shares of the company’s stock, valued at $1,646,232. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Mark G. Eliasen sold 2,200 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $65.60, for a total value of $144,320.00. Following the completion of the sale, the vice president now directly owns 3,040 shares in the company, valued at $199,424. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in ALK. BlackRock Inc. boosted its stake in Alaska Air Group by 38.4% in the second quarter. BlackRock Inc. now owns 147,763 shares of the company’s stock worth $8,613,000 after buying an additional 40,981 shares in the last quarter. BlackRock Group LTD boosted its stake in Alaska Air Group by 139.2% in the second quarter. BlackRock Group LTD now owns 221,018 shares of the company’s stock worth $12,882,000 after buying an additional 128,614 shares in the last quarter. US Bancorp DE boosted its stake in Alaska Air Group by 2.5% in the second quarter. US Bancorp DE now owns 23,197 shares of the company’s stock worth $1,353,000 after buying an additional 560 shares in the last quarter. Sentry Investment Management LLC bought a new stake in Alaska Air Group during the second quarter worth approximately $535,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in Alaska Air Group by 9.4% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 89,432 shares of the company’s stock worth $5,213,000 after buying an additional 7,700 shares in the last quarter. 88.66% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have issued reports on the stock. Zacks Investment Research lowered shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Tuesday. Buckingham Research raised shares of Alaska Air Group from a “neutral” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Thursday, October 13th. Imperial Capital assumed coverage on shares of Alaska Air Group in a research report on Friday, September 23rd. They set an “in-line” rating and a $74.00 price target on the stock. Credit Suisse Group AG set a $85.00 price target on shares of Alaska Air Group and gave the stock a “buy” rating in a research report on Tuesday, September 13th. Finally, Vetr raised shares of Alaska Air Group from a “buy” rating to a “strong-buy” rating and set a $81.75 price target on the stock in a research report on Wednesday, September 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $86.30.
About Alaska Air Group
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska) and Horizon Air (Horizon). The Company operates through three segments: Alaska Mainline, Alaska Regional and Horizon. Its Alaska Mainline segment operates the Boeing 737 part of Alaska’s business. It offers north/south service within the western United States, Canada, Mexico and Costa Rica, as well as passenger and dedicated cargo services to and within the state of Alaska.
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