Alaska Air Group (NYSE:ALK) Issues FY 2024 Earnings Guidance

Alaska Air Group (NYSE:ALK) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 4.250-4.500 for the period, compared to the consensus estimate of 4.260. The company issued revenue guidance of -. Alaska Air Group also updated its Q4 2024 guidance to 0.400-0.500 EPS.

Alaska Air Group Stock Up 4.1 %

Shares of ALK opened at $64.97 on Friday. Alaska Air Group has a 12-month low of $32.62 and a 12-month high of $65.62. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $8.25 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60. The business’s 50 day moving average is $52.17 and its 200 day moving average is $43.62.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.03. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter last year, the business posted $1.83 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Research analysts expect that Alaska Air Group will post 4.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Evercore ISI lowered their target price on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, October 3rd. Susquehanna lifted their price target on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Melius Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Monday, October 28th. Bank of America lifted their target price on Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Finally, Barclays raised their price target on Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $65.86.

Insiders Place Their Bets

In other news, COO Muehlen Constance E. Von sold 4,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $63.09, for a total transaction of $252,360.00. Following the sale, the chief operating officer now owns 12,162 shares in the company, valued at approximately $767,300.58. The trade was a 24.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Emily Halverson sold 1,329 shares of Alaska Air Group stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $64.41, for a total transaction of $85,600.89. Following the completion of the sale, the vice president now owns 7,150 shares of the company’s stock, valued at $460,531.50. This trade represents a 15.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,473 shares of company stock worth $2,198,342. 0.68% of the stock is owned by corporate insiders.

About Alaska Air Group

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.