Alaska Air Group Inc. (ALK) Set to Announce Quarterly Earnings on Thursday
Alaska Air Group Inc. (NYSE:ALK) will issue its Q316 quarterly earnings data on Thursday, October 20th. Analysts expect the company to announce earnings of $2.07 per share and revenue of $1.56 billion for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.
Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, July 21st. The company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.03. Alaska Air Group had a return on equity of 36.88% and a net margin of 15.86%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company posted $1.76 earnings per share. Alaska Air Group’s revenue was up 4.0% on a year-over-year basis. On average, analysts expect Alaska Air Group to post $6.98 EPS for the current fiscal year and $6.73 EPS for the next fiscal year.
Shares of Alaska Air Group Inc. (NYSE:ALK) opened at 71.94 on Tuesday. Alaska Air Group Inc. has a 1-year low of $54.51 and a 1-year high of $87.17. The firm has a 50-day moving average price of $68.03 and a 200 day moving average price of $67.61. The company has a market cap of $8.86 billion, a price-to-earnings ratio of 9.96 and a beta of 0.89.
In other Alaska Air Group news, VP Mark G. Eliasen sold 4,560 shares of Alaska Air Group stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $68.19, for a total transaction of $310,946.40. Following the transaction, the vice president now owns 5,302 shares of the company’s stock, valued at approximately $361,543.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Brandon Pedersen sold 9,943 shares of Alaska Air Group stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $70.52, for a total transaction of $701,180.36. Following the transaction, the vice president now directly owns 13,360 shares in the company, valued at approximately $942,147.20. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.
Several institutional investors have recently bought and sold shares of ALK. Pacer Advisors Inc. boosted its position in Alaska Air Group by 9.1% in the second quarter. Pacer Advisors Inc. now owns 2,169 shares of the company’s stock valued at $126,000 after buying an additional 181 shares in the last quarter. Point72 Asia Hong Kong Ltd purchased a new position in Alaska Air Group during the second quarter valued at approximately $175,000. Seven Eight Capital LLC purchased a new position in Alaska Air Group during the second quarter valued at approximately $194,000. Deere & Co. purchased a new position in Alaska Air Group during the second quarter valued at approximately $324,000. Finally, Ontario Teachers Pension Plan Board purchased a new position in Alaska Air Group during the second quarter valued at approximately $328,000. 88.66% of the stock is currently owned by hedge funds and other institutional investors.
ALK has been the subject of a number of recent analyst reports. Buckingham Research upgraded Alaska Air Group from a “neutral” rating to a “buy” rating and set a $84.00 price target for the company in a report on Thursday, October 13th. Morgan Stanley reiterated a “buy” rating and set a $85.00 price target on shares of Alaska Air Group in a report on Thursday, August 11th. Credit Suisse Group AG set a $85.00 price target on Alaska Air Group and gave the stock a “buy” rating in a report on Tuesday, September 13th. Vetr downgraded Alaska Air Group from a “strong-buy” rating to a “buy” rating and set a $77.17 price target for the company. in a report on Tuesday, September 6th. Finally, Zacks Investment Research upgraded Alaska Air Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $86.30.
Alaska Air Group Company Profile
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska) and Horizon Air (Horizon). The Company operates through three segments: Alaska Mainline, Alaska Regional and Horizon. Its Alaska Mainline segment operates the Boeing 737 part of Alaska’s business. It offers north/south service within the western United States, Canada, Mexico and Costa Rica, as well as passenger and dedicated cargo services to and within the state of Alaska.
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