Alaska Air Group (NYSE:ALK) Releases 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 guidance of 4.250-4.500 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

ALK has been the subject of several research analyst reports. Bank of America upped their target price on Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. UBS Group reaffirmed a “buy” rating and issued a $72.00 price target on shares of Alaska Air Group in a research note on Tuesday, November 26th. Barclays lifted their target price on shares of Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. TD Cowen increased their price objective on shares of Alaska Air Group from $68.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Susquehanna boosted their price objective on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $65.86.

Alaska Air Group Stock Performance

Shares of ALK opened at $64.97 on Friday. The stock has a market capitalization of $8.25 billion, a P/E ratio of 26.20, a P/E/G ratio of 1.24 and a beta of 1.60. The company’s fifty day moving average is $52.17 and its two-hundred day moving average is $43.62. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. Alaska Air Group has a 1 year low of $32.62 and a 1 year high of $65.62.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. Alaska Air Group’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.83 earnings per share. On average, sell-side analysts predict that Alaska Air Group will post 4.3 earnings per share for the current year.

Insider Buying and Selling

In other Alaska Air Group news, CFO Shane R. Tackett sold 5,000 shares of Alaska Air Group stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $63.56, for a total transaction of $317,800.00. Following the completion of the transaction, the chief financial officer now owns 27,362 shares in the company, valued at approximately $1,739,128.72. The trade was a 15.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Andrew R. Harrison sold 13,880 shares of Alaska Air Group stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $64.01, for a total value of $888,458.80. Following the transaction, the executive vice president now owns 20,638 shares of the company’s stock, valued at $1,321,038.38. This represents a 40.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,473 shares of company stock worth $2,198,342 in the last quarter. Company insiders own 0.68% of the company’s stock.

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.