Brokerages Anticipate Alaska Air Group, Inc. (NYSE:ALK) Will Announce Earnings of $2.50 Per Share
Equities analysts predict that Alaska Air Group, Inc. (NYSE:ALK) will announce earnings per share of $2.50 for the current quarter, according to Zacks. Five analysts have issued estimates for Alaska Air Group’s earnings, with the lowest EPS estimate coming in at $2.44 and the highest estimate coming in at $2.55. Alaska Air Group reported earnings of $2.12 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 17.9%. The firm is expected to report its next earnings results before the market opens on Wednesday, July 26th.
On average, analysts expect that Alaska Air Group will report full-year earnings of $8.14 per share for the current fiscal year, with EPS estimates ranging from $7.80 to $8.65. For the next fiscal year, analysts expect that the firm will report earnings of $8.77 per share, with EPS estimates ranging from $8.15 to $9.60. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Alaska Air Group.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Wednesday, April 26th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the company earned $1.45 EPS. The firm’s revenue was up 29.8% on a year-over-year basis.
A number of analysts recently weighed in on the company. Stifel Nicolaus restated a “buy” rating and issued a $145.00 price objective on shares of Alaska Air Group in a report on Friday, May 26th. BidaskClub downgraded Alaska Air Group from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Morgan Stanley increased 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. Cowen and Company raised shares of Alaska Air Group from a “market perform” rating to an “outperform” rating and upped their price target for the company from $102.00 to $103.00 in a research report on Monday, April 24th. Finally, Bank of America Corporation upped their price target on shares of Alaska Air Group from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, June 30th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $105.41.
In other Alaska Air Group news, Chairman Bradley D. Tilden sold 4,700 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $84.63, for a total value of $397,761.00. Following the completion of the sale, the chairman now owns 148,646 shares in the company, valued at approximately $12,579,910.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Bradley D. Tilden sold 6,500 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $88.72, for a total transaction of $576,680.00. Following the completion of the sale, the chairman now owns 148,446 shares of the company’s stock, valued at approximately $13,170,129.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,800 shares of company stock worth $2,139,479. 0.57% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans raised its stake in Alaska Air Group by 6.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,250 shares of the transportation company’s stock valued at $377,000 after buying an additional 240 shares during the period. Norges Bank purchased a new stake in Alaska Air Group during the fourth quarter valued at approximately $41,906,000. USA Financial Portformulas Corp raised its stake in Alaska Air Group by 14.7% in the fourth quarter. USA Financial Portformulas Corp now owns 18,259 shares of the transportation company’s stock valued at $1,620,000 after buying an additional 2,345 shares during the period. M Holdings Securities Inc. purchased a new stake in Alaska Air Group during the fourth quarter valued at approximately $264,000. Finally, Teachers Advisors LLC raised its stake in Alaska Air Group by 21.2% in the fourth quarter. Teachers Advisors LLC now owns 411,844 shares of the transportation company’s stock valued at $36,543,000 after buying an additional 72,076 shares during the period. Hedge funds and other institutional investors own 90.89% of the company’s stock.
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Alaska Air Group (ALK) opened at 90.75 on Wednesday. Alaska Air Group has a 52-week low of $61.61 and a 52-week high of $101.43. The company has a market capitalization of $11.22 billion, a price-to-earnings ratio of 15.46 and a beta of 0.97. The stock has a 50 day moving average price of $90.32 and a 200 day moving average price of $91.21.
About Alaska Air Group
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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