Alaska Air Group (NYSE:ALK) Releases Q4 2024 Earnings Guidance

Alaska Air Group (NYSE:ALK) updated its fourth quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.400-0.500 for the period, compared to the consensus estimate of 0.350. The company issued revenue guidance of -. Alaska Air Group also updated its FY 2024 guidance to 4.250-4.500 EPS.

Alaska Air Group Price Performance

ALK opened at $66.02 on Friday. The stock has a market cap of $8.38 billion, a P/E ratio of 26.62, a P/E/G ratio of 1.24 and a beta of 1.60. Alaska Air Group has a 12 month low of $32.62 and a 12 month high of $66.81. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93. The company has a fifty day simple moving average of $52.17 and a 200 day simple moving average of $43.62.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.03. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.83 earnings per share. On average, research analysts expect that Alaska Air Group will post 4.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Melius raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Monday, October 28th. Susquehanna boosted their price objective on shares of Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Citigroup upped their target price on shares of Alaska Air Group from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Bank of America lifted their price target on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, Melius Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Monday, October 28th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.86.

Insider Buying and Selling at Alaska Air Group

In related news, VP Emily Halverson sold 1,329 shares of Alaska Air Group stock in a transaction dated 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 transaction, the vice president now owns 7,150 shares in the company, valued at approximately $460,531.50. This trade represents a 15.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Andrea L. Schneider sold 800 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $63.89, for a total value of $51,112.00. Following the completion of the sale, the senior vice president now owns 20,286 shares in the company, valued at $1,296,072.54. This represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,473 shares of company stock worth $2,198,342 over the last ninety days. 0.68% of the stock is currently owned by corporate insiders.

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.