Zacks: Analysts Expect Alaska Air Group, Inc. (ALK) to Post $2.44 EPS
Wall Street brokerages expect Alaska Air Group, Inc. (NYSE:ALK) to announce earnings per share (EPS) of $2.44 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Alaska Air Group’s earnings, with estimates ranging from $2.30 to $2.55. Alaska Air Group reported earnings of $2.12 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 15.1%. The business is expected to report its next earnings results on Thursday, July 20th.
According to Zacks, analysts expect that Alaska Air Group will report full year earnings of $8.08 per share for the current fiscal year, with EPS estimates ranging from $7.72 to $8.60. For the next financial year, analysts forecast that the firm will post earnings of $8.68 per share, with EPS estimates ranging from $8.10 to $9.41. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Alaska Air Group.
Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Wednesday, April 26th. The transportation company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. Alaska Air Group had a return on equity of 30.01% and a net margin of 11.51%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the firm posted $1.45 EPS. The business’s revenue was up 29.8% on a year-over-year basis.
Several equities research analysts have recently commented on ALK shares. Cowen and Company upgraded Alaska Air Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $102.00 to $103.00 in a report on Monday, April 24th. Imperial Capital decreased their price objective on Alaska Air Group from $101.00 to $98.00 and set an “in-line” rating for the company in a report on Friday, March 31st. Stifel Nicolaus upgraded Alaska Air Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $105.00 to $145.00 in a report on Monday, March 20th. Morgan Stanley boosted their price objective on Alaska Air Group from $102.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, April 28th. Finally, Vetr upgraded Alaska Air Group from a “hold” rating to a “strong-buy” rating and set a $124.48 price objective for the company in a report on Monday, March 20th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $105.04.
In other Alaska Air Group news, Chairman Bradley D. Tilden sold 5,600 shares of the business’s stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $90.75, for a total value of $508,200.00. Following the transaction, the chairman now owns 151,546 shares of the company’s stock, valued at $13,752,799.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Bradley D. Tilden sold 4,700 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $84.63, for a total value of $397,761.00. Following the completion of the transaction, the chairman now directly owns 148,646 shares in the company, valued at approximately $12,579,910.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,800 shares of company stock worth $2,118,591. 0.57% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of ALK. Clearbridge Investments LLC boosted its position in Alaska Air Group by 1.6% in the first quarter. Clearbridge Investments LLC now owns 1,211,718 shares of the transportation company’s stock valued at $111,745,000 after buying an additional 18,600 shares in the last quarter. Piedmont Investment Advisors LLC boosted its position in Alaska Air Group by 2,161.1% in the first quarter. Piedmont Investment Advisors LLC now owns 7,959 shares of the transportation company’s stock valued at $734,000 after buying an additional 7,607 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in Alaska Air Group during the first quarter valued at $6,053,000. Boston Common Asset Management LLC acquired a new position in Alaska Air Group during the first quarter valued at $389,000. Finally, Bristlecone Advisors LLC boosted its position in Alaska Air Group by 18.6% in the first quarter. Bristlecone Advisors LLC now owns 3,450 shares of the transportation company’s stock valued at $318,000 after buying an additional 540 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.
Alaska Air Group (ALK) opened at 91.165 on Friday. The firm’s 50-day moving average price is $86.73 and its 200-day moving average price is $90.81. Alaska Air Group has a 52-week low of $54.51 and a 52-week high of $101.43. The firm has a market cap of $11.27 billion, a P/E ratio of 15.528 and a beta of 0.96.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 8th. Investors of record on Tuesday, May 23rd were given a dividend of $0.30 per share. The ex-dividend date was Friday, May 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.32%. Alaska Air Group’s payout ratio is 20.41%.
Alaska Air Group Company Profile
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.
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