Alaska Air Group (NYSE:ALK) Updates Q3 2024 Earnings Guidance

Alaska Air Group (NYSE:ALK) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.150-2.250 for the period, compared to the consensus EPS estimate of 1.610. The company issued revenue guidance of -. Alaska Air Group also updated its Q3 guidance to $2.15-2.25 EPS.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ALK. TD Cowen cut their price target on Alaska Air Group from $58.00 to $51.00 and set a buy rating for the company in a report on Wednesday, July 24th. Susquehanna reduced their target price on shares of Alaska Air Group from $42.00 to $41.00 and set a neutral rating on the stock in a report on Tuesday, July 16th. Citigroup lowered their price target on shares of Alaska Air Group from $51.00 to $48.00 and set a buy rating for the company in a report on Thursday, August 29th. Morgan Stanley reduced their price objective on shares of Alaska Air Group from $75.00 to $70.00 and set an overweight rating on the stock in a research note on Monday, July 22nd. Finally, Wolfe Research raised shares of Alaska Air Group from a peer perform rating to an outperform rating and set a $55.00 target price for the company in a research note on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $54.00.

Alaska Air Group Trading Up 1.0 %

Alaska Air Group stock traded up $0.39 during midday trading on Thursday, reaching $39.88. The stock had a trading volume of 782,585 shares, compared to its average volume of 2,207,344. The stock’s 50-day simple moving average is $36.82 and its 200 day simple moving average is $39.76. Alaska Air Group has a twelve month low of $30.75 and a twelve month high of $46.15. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.68. The stock has a market capitalization of $5.06 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 0.70 and a beta of 1.59.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Thursday, July 18th. The transportation company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.19. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.94 billion. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.00 EPS. Analysts expect that Alaska Air Group will post 4.06 EPS for the current year.

Alaska Air Group Company Profile

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.