Zacks: Analysts Anticipate Alaska Air Group, Inc. (NYSE:ALK) Will Announce Earnings of $2.59 Per Share
Analysts forecast that Alaska Air Group, Inc. (NYSE:ALK) will report earnings of $2.59 per share for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Alaska Air Group’s earnings, with the highest EPS estimate coming in at $2.85 and the lowest estimate coming in at $2.45. Alaska Air Group reported earnings of $2.20 per share in the same quarter last year, which would indicate a positive year over year growth rate of 17.7%. The firm is expected to issue its next earnings results on Thursday, October 19th.
According to Zacks, analysts expect that Alaska Air Group will report full year earnings of $7.92 per share for the current fiscal year, with EPS estimates ranging from $7.70 to $8.20. For the next fiscal year, analysts anticipate that the company will report earnings of $8.67 per share, with EPS estimates ranging from $8.15 to $9.05. Zacks’ EPS averages are an average based on a survey of analysts that follow Alaska Air Group.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.52 by $0.01. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. The firm’s revenue was up 40.7% on a year-over-year basis. During the same period last year, the company earned $2.12 earnings per share.
A number of equities analysts recently commented on the company. Zacks Investment Research downgraded Alaska Air Group from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. BidaskClub downgraded Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Morgan Stanley reduced their price objective on Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a research report on Monday, July 17th. Bank of America Corporation lifted their price objective on Alaska Air Group from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, June 30th. Finally, Cowen and Company reiterated an “outperform” rating and set a $103.00 price objective on shares of Alaska Air Group in a research report on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $105.41.
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In other Alaska Air Group news, Chairman Bradley D. Tilden sold 5,600 shares of Alaska Air Group stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $94.48, for a total transaction of $529,088.00. Following the completion of the sale, the chairman now directly owns 145,546 shares of the company’s stock, valued at approximately $13,751,186.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Bradley D. Tilden sold 4,700 shares of Alaska Air Group stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $84.63, for a total value of $397,761.00. Following the sale, the chairman now directly owns 148,646 shares of the company’s stock, valued at $12,579,910.98. The disclosure for this sale can be found here. Insiders have sold a total of 26,150 shares of company stock valued at $2,341,650 over the last three months. 0.57% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in ALK. Bessemer Group Inc. increased its stake in shares of Alaska Air Group by 57.9% in the second quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock worth $171,000 after buying an additional 695 shares during the period. Twin Tree Management LP acquired a new stake in shares of Alaska Air Group during the first quarter worth about $179,000. Assetmark Inc. increased its stake in shares of Alaska Air Group by 70.3% in the first quarter. Assetmark Inc. now owns 2,027 shares of the transportation company’s stock worth $187,000 after buying an additional 837 shares during the period. Rehmann Capital Advisory Group acquired a new stake in shares of Alaska Air Group during the second quarter worth about $201,000. Finally, Insight Capital Research & Management Inc. acquired a new stake in shares of Alaska Air Group during the second quarter worth about $215,000. 93.43% of the stock is owned by institutional investors.
Shares of Alaska Air Group (NYSE:ALK) traded down 0.06% during mid-day trading on Tuesday, hitting $85.95. The stock had a trading volume of 82,753 shares. Alaska Air Group has a one year low of $64.19 and a one year high of $101.43. The firm has a 50 day moving average of $89.87 and a 200-day moving average of $90.99. The stock has a market cap of $10.62 billion, a P/E ratio of 13.98 and a beta of 0.95.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Tuesday, August 22nd will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $1.20 annualized dividend and a yield of 1.40%. Alaska Air Group’s payout ratio is 19.48%.
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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