Imperial Capital Equities Analysts Reduce Earnings Estimates for Alaska Air Group, Inc. (ALK)
Alaska Air Group, Inc. (NYSE:ALK) – Investment analysts at Imperial Capital decreased their Q3 2017 earnings estimates for Alaska Air Group in a report issued on Tuesday. Imperial Capital analyst M. Derchin now expects that the transportation company will earn $2.31 per share for the quarter, down from their prior estimate of $2.60. Imperial Capital also issued estimates for Alaska Air Group’s FY2017 earnings at $7.35 EPS, Q1 2018 earnings at $0.93 EPS, Q2 2018 earnings at $2.56 EPS, Q3 2018 earnings at $2.48 EPS, Q4 2018 earnings at $1.64 EPS, FY2018 earnings at $7.60 EPS and FY2019 earnings at $5.10 EPS.
Other analysts have also issued reports about the stock. ValuEngine lowered shares of Alaska Air Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Zacks Investment Research upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a research note on Tuesday, July 4th. Bank of America Corporation upped 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. Finally, Cowen and Company restated a “buy” rating and set a $103.00 target price on shares of Alaska Air Group in a research note on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $103.15.
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Shares of Alaska Air Group (ALK) opened at 79.39 on Wednesday. The stock has a 50 day moving average of $77.18 and a 200-day moving average of $83.94. Alaska Air Group has a 12-month low of $69.12 and a 12-month high of $101.43. The company has a market capitalization of $9.81 billion, a PE ratio of 12.91 and a beta of 0.99.
Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the prior year, the business posted $2.12 earnings per share. The firm’s quarterly revenue was up 40.7% on a year-over-year basis.
Several hedge funds have recently bought and sold shares of the company. Boston Advisors LLC boosted its holdings in shares of Alaska Air Group by 4.0% in the third quarter. Boston Advisors LLC now owns 121,091 shares of the transportation company’s stock valued at $9,236,000 after acquiring an additional 4,605 shares during the period. Nationwide Fund Advisors boosted its holdings in shares of Alaska Air Group by 8.2% in the third quarter. Nationwide Fund Advisors now owns 165,134 shares of the transportation company’s stock valued at $12,595,000 after acquiring an additional 12,499 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Alaska Air Group in the third quarter valued at approximately $1,022,000. CAPROCK Group Inc. acquired a new stake in shares of Alaska Air Group in the third quarter valued at approximately $235,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Alaska Air Group in the third quarter valued at approximately $8,782,000. 87.33% of the stock is owned by institutional investors and hedge funds.
In related news, Chairman Bradley D. Tilden sold 2,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total value of $205,992.00. Following the completion of the transaction, the chairman now directly owns 140,346 shares of the company’s stock, valued at $12,045,897.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew R. Harrison sold 2,350 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 21,328 shares of the company’s stock, valued at $1,834,847.84. The disclosure for this sale can be found here. Corporate insiders own 0.57% 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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