$2.10 Billion in Sales Expected for Alaska Air Group, Inc. (ALK) This Quarter
Equities analysts expect Alaska Air Group, Inc. (NYSE:ALK) to announce $2.10 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Alaska Air Group’s earnings. The lowest sales estimate is $2.09 billion and the highest is $2.10 billion. Alaska Air Group reported sales of $1.49 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 40.9%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, July 26th.
According to Zacks, analysts expect that Alaska Air Group will report full year sales of $2.10 billion for the current fiscal year, with estimates ranging from $8.05 billion to $8.17 billion. For the next year, analysts forecast that the company will report sales of $8.83 billion per share, with estimates ranging from $8.60 billion to $8.95 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Alaska Air Group.
Alaska Air Group (NYSE:ALK) last announced its earnings results on Wednesday, April 26th. The transportation company reported $1.05 EPS for the quarter, topping the consensus estimate of $1.04 by $0.01. Alaska Air Group had a net margin of 11.51% and a return on equity of 30.01%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company posted $1.45 EPS. The business’s quarterly revenue was up 29.8% on a year-over-year basis.
A number of equities research analysts recently commented on ALK shares. Cowen and Company reissued a “market perform” rating and issued a $100.00 price target on shares of Alaska Air Group in a research report on Tuesday, March 28th. Imperial Capital lowered their price target on Alaska Air Group from $101.00 to $98.00 and set an “in-line” rating for the company in a research report on Friday, March 31st. J P Morgan Chase & Co set a $116.00 price target on Alaska Air Group and gave the company a “buy” rating in a research report on Saturday, April 1st. Morgan Stanley restated an “overweight” rating on shares of Alaska Air Group in a research note on Friday, April 7th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $145.00 price objective on shares of Alaska Air Group in a research note on Friday, May 26th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $105.41.
In related news, Chairman Bradley D. Tilden sold 4,700 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $84.63, for a total transaction of $397,761.00. Following the transaction, the chairman now directly owns 148,646 shares in the company, valued at approximately $12,579,910.98. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Joseph A. Sprague sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $90.85, for a total value of $635,950.00. Following the transaction, the senior vice president now owns 7,191 shares in the company, valued at $653,302.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,800 shares of company stock worth $2,139,479. 0.57% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Thrivent Financial for Lutherans raised its stake in shares of 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 worth $377,000 after buying an additional 240 shares in the last quarter. Norges Bank purchased a new stake in Alaska Air Group during the fourth quarter valued at $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 in the last quarter. M Holdings Securities Inc. purchased a new stake in Alaska Air Group during the fourth quarter valued at $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 in the last quarter. Hedge funds and other institutional investors own 90.89% of the company’s stock.
Alaska Air Group (NYSE:ALK) traded down 0.95% during trading on Friday, hitting $88.25. 942,834 shares of the company traded hands. Alaska Air Group has a 12-month low of $64.19 and a 12-month high of $101.43. The stock has a 50-day moving average price of $90.50 and a 200-day moving average price of $91.18. The firm has a market capitalization of $10.91 billion, a P/E ratio of 15.03 and a beta of 0.97.
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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