Alaska Air Group (NYSE:ALK) Updates Q3 2024 Earnings Guidance

Alaska Air Group (NYSE:ALK) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 2.250-2.250 for the period, compared to the consensus earnings per share estimate of 2.020. The company issued revenue guidance of -.

Alaska Air Group Stock Performance

ALK opened at $48.90 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.66. The firm has a fifty day moving average price of $42.20 and a 200 day moving average price of $40.86. Alaska Air Group has a 1 year low of $32.00 and a 1 year high of $50.16. The stock has a market cap of $6.17 billion, a P/E ratio of 19.85, a P/E/G ratio of 0.74 and a beta of 1.59.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 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 analyst estimates of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 13.10%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.83 EPS. Equities research analysts anticipate that Alaska Air Group will post 4.24 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on ALK shares. Barclays started coverage on shares of Alaska Air Group in a report on Monday, October 21st. They issued an “overweight” rating and a $55.00 price target for the company. Morgan Stanley cut their price target on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Bank of America boosted their price target on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Citigroup cut their price target on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Melius Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.