$2.19 Billion in Sales Expected for Alaska Air Group, Inc. (ALK) This Quarter
Equities research analysts expect Alaska Air Group, Inc. (NYSE:ALK) to report $2.19 billion in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Alaska Air Group’s earnings. The lowest sales estimate is $2.18 billion and the highest is $2.21 billion. Alaska Air Group posted sales of $1.57 billion during the same quarter last year, which suggests a positive year over year growth rate of 39.5%. The firm is expected to report its next earnings results on Thursday, October 19th.
On average, analysts expect that Alaska Air Group will report full-year sales of $2.19 billion for the current fiscal year, with estimates ranging from $7.95 billion to $8.11 billion. For the next fiscal year, analysts forecast that the company will report sales of $8.77 billion per share, with estimates ranging from $8.52 billion to $8.90 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Alaska Air Group.
Alaska Air Group (NYSE:ALK) last released its earnings results on Wednesday, July 26th. The transportation company reported $2.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.52 by ($0.01). Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period last year, the firm posted $2.12 earnings per share. The company’s revenue was up 40.7% compared to the same quarter last year.
Several analysts have issued reports on the company. Cowen and Company dropped their target price on Alaska Air Group from $103.00 to $100.00 and set an “outperform” rating on the stock in a research report on Thursday. Zacks Investment Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research report on Tuesday, July 4th. Bank of America Corporation raised 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. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price objective on shares of Alaska Air Group in a research report on Friday, May 26th. Finally, Morgan Stanley lowered their price objective on Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating for the company in a research report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Alaska Air Group presently has a consensus rating of “Buy” and a consensus target price of $106.55.
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Shares of Alaska Air Group (NYSE:ALK) opened at 75.28 on Friday. Alaska Air Group has a 12-month low of $64.19 and a 12-month high of $101.43. The company has a market capitalization of $9.30 billion, a P/E ratio of 12.24 and a beta of 1.00. The firm has a 50-day moving average price of $79.30 and a 200 day moving average price of $87.26.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.59%. Alaska Air Group’s payout ratio is currently 19.48%.
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 transaction, the chairman now owns 145,546 shares in the company, valued at approximately $13,751,186.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew R. Harrison sold 2,350 shares of Alaska Air Group 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 transaction, the executive vice president now owns 21,328 shares of the company’s stock, valued at approximately $1,834,847.84. The disclosure for this sale can be found here. Insiders have sold a total of 10,350 shares of company stock valued at $937,251 in the last quarter. Company insiders own 0.57% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mountain Capital Investment Advisors Inc purchased a new position in shares of Alaska Air Group during the 2nd quarter valued at about $122,000. Bessemer Group Inc. raised its stake in shares of Alaska Air Group by 57.9% during the 2nd quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock valued at $171,000 after buying an additional 695 shares during the last quarter. Twin Tree Management LP purchased a new position in shares of Alaska Air Group during the 1st quarter valued at about $179,000. Assetmark Inc. raised its stake in shares of Alaska Air Group by 70.3% during the 1st quarter. Assetmark Inc. now owns 2,027 shares of the transportation company’s stock valued at $187,000 after buying an additional 837 shares during the last quarter. Finally, Rehmann Capital Advisory Group purchased a new position in shares of Alaska Air Group during the 2nd quarter valued at about $201,000. Institutional investors and hedge funds own 88.34% of the company’s stock.
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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