Q1 2018 EPS Estimates for Alaska Air Group, Inc. (ALK) Lifted by Imperial Capital
Alaska Air Group, Inc. (NYSE:ALK) – Investment analysts at Imperial Capital boosted their Q1 2018 earnings per share estimates for shares of Alaska Air Group in a research note issued on Wednesday. Imperial Capital analyst M. Derchin now expects that the transportation company will post earnings of $0.50 per share for the quarter, up from their previous forecast of $0.41. Imperial Capital currently has a “line” rating and a $70.00 target price on the stock. Imperial Capital also issued estimates for Alaska Air Group’s Q2 2018 earnings at $2.23 EPS, Q3 2018 earnings at $2.36 EPS, Q4 2018 earnings at $1.15 EPS and FY2018 earnings at $6.25 EPS.
Several other equities analysts have also recently issued reports on ALK. Stifel Nicolaus restated a “buy” rating and set a $125.00 price objective on shares of Alaska Air Group in a research note on Saturday, September 23rd. Macquarie started coverage on Alaska Air Group in a research note on Monday, September 25th. They set an “outperform” rating and a $94.00 price objective on the stock. Bank of America reduced their price objective on Alaska Air Group from $100.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, October 13th. Cowen reduced their price objective on Alaska Air Group from $100.00 to $89.00 and set an “outperform” rating on the stock in a research note on Thursday, October 26th. Finally, Morgan Stanley raised their price objective on Alaska Air Group from $83.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $88.89.
Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Wednesday, October 25th. The transportation company reported $2.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by ($0.02). Alaska Air Group had a return on equity of 28.74% and a net margin of 10.34%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the business earned $2.20 earnings per share. The business’s revenue for the quarter was up 35.4% compared to the same quarter last year.
In other Alaska Air Group news, CEO David L. Campbell sold 4,934 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $68.00, for a total value of $335,512.00. Following the sale, the chief executive officer now directly owns 9,648 shares in the company, valued at $656,064. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew R. Harrison sold 540 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $65.53, for a total value of $35,386.20. Following the completion of the sale, the executive vice president now owns 20,788 shares in the company, valued at $1,362,237.64. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.
A number of hedge funds have recently bought and sold shares of ALK. Mercer Capital Advisers Inc. bought a new stake in Alaska Air Group in the third quarter valued at $116,000. Mountain Capital Investment Advisors Inc bought a new stake in Alaska Air Group in the second quarter valued at $122,000. Bank of Nova Scotia Trust Co. bought a new stake in Alaska Air Group in the third quarter valued at $153,000. Harbour Capital Advisors LLC bought a new stake in Alaska Air Group in the third quarter valued at $200,000. Finally, Tocqueville Asset Management L.P. bought a new stake in Alaska Air Group in the third quarter valued at $207,000. Institutional investors own 88.61% of the company’s stock.
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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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