Alaska Air Group (NYSE:ALK) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Alaska Air Group (NYSE:ALK) released its quarterly earnings results on Thursday. The transportation company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.22 by $0.03, Briefing.com reports. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the company posted $1.83 earnings per share. Alaska Air Group’s revenue was up 8.2% compared to the same quarter last year. Alaska Air Group updated its FY 2024 guidance to 4.000- EPS and its Q4 2024 guidance to 0.200-0.400 EPS.

Alaska Air Group Trading Up 2.7 %

NYSE ALK traded up $1.28 during trading hours on Friday, reaching $49.19. The company’s stock had a trading volume of 2,133,699 shares, compared to its average volume of 2,271,398. The firm has a fifty day simple moving average of $41.92 and a 200-day simple moving average of $40.80. The stock has a market cap of $6.21 billion, a P/E ratio of 27.84, a P/E/G ratio of 0.73 and a beta of 1.60. Alaska Air Group has a 52 week low of $31.44 and a 52 week high of $50.16. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.66.

Analyst Upgrades and Downgrades

ALK has been the topic of several research reports. Evercore ISI decreased their price target on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, October 3rd. Susquehanna upped their price objective 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. Barclays started coverage on shares of Alaska Air Group in a research report on Monday, October 21st. They set an “overweight” rating and a $55.00 price objective for the company. TD Cowen cut their price objective on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, Melius raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Monday. Three 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 a consensus rating of “Moderate Buy” and an average price target of $54.17.

About Alaska Air Group

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.