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

by · The Markets Daily

Alaska Air Group (NYSE:ALK – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 4.000- for the period, compared to the consensus estimate of 4.380. The company issued revenue guidance of -. Alaska Air Group also updated its Q4 2024 guidance to 0.200-0.400 EPS.

Alaska Air Group Stock Performance

NYSE ALK traded up $1.32 on Friday, reaching $49.23. 3,632,444 shares of the stock were exchanged, compared to its average volume of 2,278,467. The firm has a market capitalization of $6.21 billion, a PE ratio of 28.62, a PEG ratio of 0.73 and a beta of 1.60. Alaska Air Group has a one year low of $31.44 and a one year high of $50.16. The company’s 50-day simple moving average is $42.20 and its two-hundred day simple moving average is $40.86. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55.

Alaska Air Group (NYSE:ALK – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The company had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the firm earned $1.83 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. Analysts expect that Alaska Air Group will post 4.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Evercore ISI dropped their price objective on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, October 3rd. Barclays started coverage on Alaska Air Group in a research note on Monday, October 21st. They issued an “overweight” rating and a $55.00 price objective on the stock. Bank of America increased their target price on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Susquehanna boosted their price target on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley lowered their price objective on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.17.

Check Out Our Latest Research Report on ALK

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 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.

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