Zacks: Analysts Expect Alaska Air Group, Inc. (ALK) Will Post Earnings of $1.00 Per Share
Analysts forecast that Alaska Air Group, Inc. (NYSE:ALK) will report $1.00 earnings per share for the current quarter, according to Zacks. Five analysts have issued estimates for Alaska Air Group’s earnings. The highest EPS estimate is $1.14 and the lowest is $0.89. Alaska Air Group posted earnings per share of $1.56 in the same quarter last year, which suggests a negative year-over-year growth rate of 35.9%. The business is expected to issue its next quarterly earnings report on Wednesday, February 14th.
On average, analysts expect that Alaska Air Group will report full year earnings of $6.80 per share for the current financial year, with EPS estimates ranging from $6.69 to $6.94. For the next year, analysts expect that the firm will post earnings of $6.42 per share, with EPS estimates ranging from $5.75 to $7.00. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Alaska Air Group.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $2.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by ($0.02). Alaska Air Group had a net margin of 10.34% and a return on equity of 28.74%. The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the company earned $2.20 earnings per share. The firm’s revenue was up 35.4% compared to the same quarter last year.
Several equities analysts recently weighed in on ALK shares. Barclays PLC reiterated a “buy” rating on shares of Alaska Air Group in a research report on Thursday, September 14th. Cowen and Company reiterated a “buy” rating and set a $103.00 target price on shares of Alaska Air Group in a research report on Tuesday, September 12th. ValuEngine downgraded Alaska Air Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Stifel Nicolaus reiterated a “buy” rating and set a $125.00 target price on shares of Alaska Air Group in a research report on Saturday, September 23rd. Finally, Bank of America Corporation reduced their target price on Alaska Air Group from $100.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, October 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Alaska Air Group currently has a consensus rating of “Buy” and a consensus target price of $92.34.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Alaska Air Group by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 11,829,247 shares of the transportation company’s stock worth $1,061,794,000 after purchasing an additional 261,887 shares during the period. Egerton Capital UK LLP grew its stake in shares of Alaska Air Group by 51.6% in the third quarter. Egerton Capital UK LLP now owns 4,476,494 shares of the transportation company’s stock valued at $341,422,000 after buying an additional 1,524,149 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Alaska Air Group by 4.6% in the second quarter. Franklin Resources Inc. now owns 3,348,411 shares of the transportation company’s stock valued at $300,554,000 after buying an additional 148,061 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Alaska Air Group by 22.8% in the third quarter. Principal Financial Group Inc. now owns 1,510,663 shares of the transportation company’s stock valued at $115,218,000 after buying an additional 280,075 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Alaska Air Group by 10.8% in the second quarter. Ameriprise Financial Inc. now owns 1,491,104 shares of the transportation company’s stock valued at $133,835,000 after buying an additional 145,328 shares in the last quarter. Institutional investors own 88.27% of the company’s stock.
Shares of Alaska Air Group (NYSE:ALK) traded up $0.49 during trading hours on Friday, hitting $62.87. The stock had a trading volume of 720,677 shares, compared to its average volume of 2,110,000. Alaska Air Group has a twelve month low of $61.36 and a twelve month high of $101.43. The stock has a market capitalization of $7,680.00, a P/E ratio of 8.43 and a beta of 1.01. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.80 and a quick ratio of 0.78.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Tuesday, November 21st will be issued a $0.30 dividend. The ex-dividend date is Monday, November 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.91%. Alaska Air Group’s dividend payout ratio (DPR) is 19.23%.
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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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