Analysts Issue Forecasts for Alaska Air Group, Inc. Third-Quarter 2024 Earnings (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALK – Free Report) – Zacks Research raised its Q3 2024 earnings per share estimates for shares of Alaska Air Group in a note issued to investors on Tuesday, September 17. Zacks Research analyst M. Basu now predicts that the transportation company will earn $2.17 per share for the quarter, up from their previous estimate of $1.55. The consensus estimate for Alaska Air Group’s current full year earnings is $4.17 per share. Zacks Research also issued estimates for Alaska Air Group’s Q4 2024 EPS at $0.91 EPS, FY2024 EPS at $4.71 EPS, Q2 2025 EPS at $2.33 EPS, Q4 2025 EPS at $1.68 EPS and FY2026 EPS at $7.08 EPS.

Several other analysts have also weighed in on the company. TD Cowen increased their price target on Alaska Air Group from $51.00 to $52.00 and gave the company a “buy” rating in a report on Friday, September 13th. Morgan Stanley decreased their price target on 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. Bank of America increased their price target 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. Susquehanna decreased their price target on Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. Finally, Citigroup lowered their price target on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Four equities analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.00.

View our latest research report on ALK

Alaska Air Group Stock Return

NYSE:ALK opened Friday at $40.02. The stock’s fifty-day moving average is $37.10 and its 200-day moving average is $39.86. Alaska Air Group has a fifty-two week low of $30.75 and a fifty-two week high of $46.15. The company has a market cap of $5.08 billion, a price/earnings ratio of 21.40, a PEG ratio of 0.60, and a beta of 1.59. The company has a debt/equity ratio of 0.55, a quick ratio of 0.66, and a current ratio of 0.68.

Alaska Air Group (NYSE:ALK – Get Free Report) last released its quarterly earnings results on Thursday, July 18. The transportation company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.36 by $0.19. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.94 billion. In the year-ago quarter, the company posted $3.00 EPS. Alaska Air Group’s quarterly revenue increased 2.1% compared to the year-ago quarter.

Hedge Funds Weigh Alaska Air Group

A number of hedge funds and other institutional investors have recently made changes to their positions in ALK. Capital Research Global Investors purchased a new position in shares of Alaska Air Group during the first quarter worth $36,993,000. Frontier Capital Management Co. LLC increased its position in Alaska Air Group by 238.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 869,045 shares of the transportation company’s stock worth $33,954,000 after purchasing an additional 612,575 shares in the last quarter. Franklin Resources Inc. increased its position in Alaska Air Group by 4,198.3% during the fourth quarter. Franklin Resources Inc. now owns 571,589 shares of the transportation company’s stock worth $22,332,000 after purchasing an additional 558,291 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Alaska Air Group by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock worth $262,789,000 after purchasing an additional 357,907 shares in the last quarter. Finally, Norges Bank bought a new stake in Alaska Air Group in the fourth quarter worth about $13,434,000. Institutional investors own 81.90% of the company’s stock.

About Alaska Air Group

(Get free report)

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

Read more

Get daily news and reviews for Alaska Air Group – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings on Alaska Air Group and related companies with MarketBeat.com’s FREE daily email newsletter.