Q3 2017 EPS Estimates for Alaska Air Group, Inc. (NYSE:ALK) Decreased by Analyst
Alaska Air Group, Inc. (NYSE:ALK) – Imperial Capital dropped their Q3 2017 earnings per share estimates for shares of Alaska Air Group in a research report issued to clients and investors on Thursday. Imperial Capital analyst M. Derchin now forecasts that the transportation company will post earnings per share of $2.60 for the quarter, down from their previous estimate of $2.63. Imperial Capital also issued estimates for Alaska Air Group’s Q4 2017 earnings at $1.75 EPS, FY2017 earnings at $7.90 EPS and FY2018 earnings at $8.05 EPS.
Several other research firms have also weighed in on ALK. BidaskClub lowered Alaska Air Group from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Morgan Stanley cut their target price on Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a report on Monday, July 17th. Zacks Investment Research lowered Alaska Air Group from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Cowen and Company restated a “market perform” rating and set a $102.00 target price on shares of Alaska Air Group in a report on Monday, April 17th. Finally, Bank of America Corporation raised their target price on Alaska Air Group from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $105.41.
Shares of Alaska Air Group (NYSE:ALK) opened at 84.47 on Monday. The stock has a 50 day moving average price of $88.82 and a 200 day moving average price of $90.55. Alaska Air Group has a 12 month low of $64.19 and a 12 month high of $101.43. The stock has a market cap of $10.43 billion, a P/E ratio of 13.74 and a beta of 0.95.
Alaska Air Group (NYSE:ALK) last issued its earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.52 by $0.01. Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the previous year, the company earned $2.12 EPS. Alaska Air Group’s quarterly revenue was up 40.7% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.42%. Alaska Air Group’s payout ratio is presently 19.48%.
In related news, Chairman Bradley D. Tilden sold 2,400 shares of Alaska Air Group stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total transaction of $205,992.00. Following the sale, the chairman now directly owns 140,346 shares of the company’s stock, valued at $12,045,897.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Joseph A. Sprague sold 7,000 shares of Alaska Air Group stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $90.85, for a total value of $635,950.00. Following the sale, the senior vice president now directly owns 7,191 shares in the company, valued at $653,302.35. The disclosure for this sale can be found here. Insiders sold 28,550 shares of company stock worth $2,547,642 over the last quarter. 0.57% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in ALK. Regentatlantic Capital LLC increased its stake in Alaska Air Group by 0.7% in the first quarter. Regentatlantic Capital LLC now owns 2,907 shares of the transportation company’s stock worth $268,000 after buying an additional 20 shares during the period. Cleararc Capital Inc. increased its stake in Alaska Air Group by 0.7% in the first quarter. Cleararc Capital Inc. now owns 3,001 shares of the transportation company’s stock worth $277,000 after buying an additional 20 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Alaska Air Group by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,183 shares of the transportation company’s stock worth $824,000 after buying an additional 24 shares during the period. ING Groep NV increased its stake in Alaska Air Group by 0.5% in the second quarter. ING Groep NV now owns 6,325 shares of the transportation company’s stock worth $568,000 after buying an additional 32 shares during the period. Finally, CIBC Asset Management Inc increased its stake in Alaska Air Group by 0.4% in the second quarter. CIBC Asset Management Inc now owns 11,691 shares of the transportation company’s stock worth $1,049,000 after buying an additional 44 shares during the period. 94.35% of the stock is currently owned by institutional investors and hedge funds.
Alaska Air Group Company Profile
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.
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