$2.17 Billion in Sales Expected for Alaska Air Group, Inc. (ALK) This Quarter
Wall Street analysts forecast that Alaska Air Group, Inc. (NYSE:ALK) will post $2.17 billion in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Alaska Air Group’s earnings, with the lowest sales estimate coming in at $2.12 billion and the highest estimate coming in at $2.20 billion. Alaska Air Group reported sales of $1.57 billion in the same quarter last year, which would suggest a positive year over year growth rate of 38.2%. The business is expected to report its next earnings report before the market opens on Wednesday, October 25th.
According to Zacks, analysts expect that Alaska Air Group will report full-year sales of $2.17 billion for the current financial year, with estimates ranging from $7.93 billion to $8.09 billion. For the next financial year, analysts expect that the business will post sales of $8.69 billion per share, with estimates ranging from $8.48 billion to $8.88 billion. Zacks’ sales 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 for the quarter, missing the Zacks’ consensus estimate of $2.52 by ($0.01). Alaska Air Group had a net margin of 11.02% and a return on equity of 30.04%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the previous year, the business posted $2.12 earnings per share. The firm’s revenue was up 40.7% on a year-over-year basis.
Several analysts recently issued reports on the company. Morgan Stanley reiterated an “overweight” rating on shares of Alaska Air Group in a report on Tuesday, September 12th. ValuEngine lowered Alaska Air Group from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Cowen and Company reiterated a “buy” rating and set a $103.00 target price on shares of Alaska Air Group in a report on Tuesday, September 12th. BidaskClub lowered Alaska Air Group from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Bank of America Corporation upped their target price on Alaska Air Group from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $103.15.
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In other news, Chairman Bradley D. Tilden sold 2,400 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total transaction of $205,992.00. Following the transaction, the chairman now owns 140,346 shares in the company, valued at $12,045,897.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrew R. Harrison sold 2,350 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was 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 in the company, valued at approximately $1,834,847.84. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ALK. Egerton Capital UK LLP bought a new position in shares of Alaska Air Group during the second quarter worth approximately $265,002,000. Principal Financial Group Inc. increased its stake in shares of Alaska Air Group by 149.3% during the second quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the transportation company’s stock worth $110,457,000 after purchasing an additional 737,020 shares during the period. Janus Henderson Group PLC bought a new position in shares of Alaska Air Group during the second quarter worth approximately $57,891,000. State of New Jersey Common Pension Fund D increased its stake in shares of Alaska Air Group by 900.0% during the second quarter. State of New Jersey Common Pension Fund D now owns 500,000 shares of the transportation company’s stock worth $44,880,000 after purchasing an additional 450,000 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Alaska Air Group by 78.0% during the second quarter. JPMorgan Chase & Co. now owns 805,723 shares of the transportation company’s stock worth $72,323,000 after purchasing an additional 353,166 shares during the period. Institutional investors own 87.72% of the company’s stock.
Alaska Air Group (NYSE:ALK) opened at 79.69 on Monday. The company has a 50 day moving average price of $77.01 and a 200-day moving average price of $84.17. The company has a market capitalization of $9.84 billion, a P/E ratio of 12.96 and a beta of 0.99. Alaska Air Group has a 52 week low of $69.12 and a 52 week high of $101.43.
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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