Alaska Air Group, Inc. (ALK) Expected to Post Earnings of $2.45 Per Share
Equities analysts expect Alaska Air Group, Inc. (NYSE:ALK) to report earnings per share of $2.45 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Alaska Air Group’s earnings, with estimates ranging from $2.18 to $2.60. Alaska Air Group posted earnings per share of $2.20 during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.4%. The company is scheduled to report its next quarterly earnings results on Thursday, October 19th.
On average, analysts expect that Alaska Air Group will report full-year earnings of $7.66 per share for the current fiscal year, with EPS estimates ranging from $7.15 to $8.10. For the next fiscal year, analysts anticipate that the firm will post earnings of $8.34 per share, with EPS estimates ranging from $7.44 to $9.05. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Alaska Air Group.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.52 by ($0.01). The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.10 billion. Alaska Air Group had a net margin of 11.02% and a return on equity of 30.04%. The business’s revenue was up 40.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.12 EPS.
Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research note on Tuesday, July 4th. Bank of America Corporation increased their target price on shares of Alaska Air Group from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, June 30th. Stifel Nicolaus reiterated a “buy” rating and set a $145.00 target price on shares of Alaska Air Group in a research note on Friday, May 26th. Morgan Stanley decreased their target price on shares of Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating for the company in a research note on Monday, July 17th. Finally, BidaskClub upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Alaska Air Group currently has a consensus rating of “Buy” and an average target price of $106.85.
In related news, EVP Andrew R. Harrison sold 2,350 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $86.03, for a total value of $202,170.50. Following the completion of the sale, the executive vice president now owns 21,328 shares in the company, valued at $1,834,847.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Bradley D. Tilden sold 5,600 shares of the firm’s stock in a transaction dated Thursday, July 13th. The shares were 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 owns 145,546 shares of the company’s stock, valued at approximately $13,751,186.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,350 shares of company stock valued at $937,251. 0.57% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in ALK. Mountain Capital Investment Advisors Inc acquired a new stake in Alaska Air Group in the second quarter valued at about $122,000. Bessemer Group Inc. lifted its position in Alaska Air Group by 57.9% in the second quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock valued at $171,000 after purchasing an additional 695 shares during the period. Twin Tree Management LP acquired a new stake in Alaska Air Group in the first quarter valued at about $179,000. Assetmark Inc. lifted its position in Alaska Air Group by 70.3% in the first quarter. Assetmark Inc. now owns 2,027 shares of the transportation company’s stock valued at $187,000 after purchasing an additional 837 shares during the period. Finally, Rehmann Capital Advisory Group acquired a new stake in Alaska Air Group in the second quarter valued at about $201,000. Hedge funds and other institutional investors own 88.34% of the company’s stock.
Shares of Alaska Air Group (NYSE:ALK) opened at 76.21 on Thursday. Alaska Air Group has a 12 month low of $64.19 and a 12 month high of $101.43. The company has a market cap of $9.41 billion, a P/E ratio of 12.39 and a beta of 1.00. The stock’s 50 day moving average price is $80.26 and its 200-day moving average price is $87.58.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Tuesday, August 22nd were given a $0.30 dividend. The ex-dividend date was Friday, August 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.57%. Alaska Air Group’s payout ratio is currently 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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