Q2 2024 EPS Estimates for Alaska Air Group, Inc. (NYSE:ALK) Raised by Analyst

Alaska Air Group, Inc. (NYSE:ALK - Free Report) - Research analysts at Zacks Research lifted their Q2 2024 earnings per share estimates for Alaska Air Group in a report released on Thursday, May 2nd. Zacks Research analyst M. Basu now expects that the transportation company will post earnings of $2.33 per share for the quarter, up from their previous forecast of $2.12. The consensus estimate for Alaska Air Group's current full-year earnings is $4.68 per share. Zacks Research also issued estimates for Alaska Air Group's Q4 2025 earnings at $1.53 EPS and FY2025 earnings at $5.94 EPS.

Other research analysts have also issued research reports about the stock. Melius lowered shares of Alaska Air Group from a "buy" rating to a "hold" rating in a research report on Monday, January 8th. Deutsche Bank Aktiengesellschaft raised Alaska Air Group from a "hold" rating to a "buy" rating and boosted their price target for the company from $44.00 to $51.00 in a research note on Tuesday, February 20th. TD Cowen lifted their price target on shares of Alaska Air Group from $49.00 to $58.00 and gave the company a "buy" rating in a report on Friday, April 19th. StockNews.com raised Alaska Air Group from a "sell" rating to a "hold" rating in a report on Friday, April 19th. Finally, Bank of America raised their price target on Alaska Air Group from $50.00 to $56.00 and gave the company a "buy" rating in a report on Friday, April 19th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, Alaska Air Group has an average rating of "Moderate Buy" and an average price target of $57.85.

Alaska Air Group Price Performance

Shares of ALK stock traded up $1.17 during mid-day trading on Monday, reaching $43.85. The company's stock had a trading volume of 1,451,829 shares, compared to its average volume of 2,442,883. The firm's 50-day moving average is $40.83 and its two-hundred day moving average is $37.91. The company has a market cap of $5.52 billion, a P/E ratio of 22.82, a PEG ratio of 0.57 and a beta of 1.60. Alaska Air Group has a 1-year low of $30.75 and a 1-year high of $57.18. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.63 and a current ratio of 0.65.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its quarterly earnings data on Thursday, April 18th. The transportation company reported ($0.92) earnings per share for the quarter, topping the consensus estimate of ($1.09) by $0.17. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.18 billion. Alaska Air Group had a return on equity of 13.54% and a net margin of 2.34%. Alaska Air Group's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.62) EPS.

Institutional Trading of Alaska Air Group

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC grew its position in shares of Alaska Air Group by 44.4% in the 3rd quarter. SG Americas Securities LLC now owns 15,945 shares of the transportation company's stock valued at $591,000 after purchasing an additional 4,906 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Alaska Air Group by 2.6% during the third quarter. Commonwealth Equity Services LLC now owns 62,337 shares of the transportation company's stock worth $2,311,000 after acquiring an additional 1,597 shares in the last quarter. Xponance Inc. increased its position in shares of Alaska Air Group by 10.0% during the third quarter. Xponance Inc. now owns 21,138 shares of the transportation company's stock worth $784,000 after acquiring an additional 1,918 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Alaska Air Group by 6.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 283,809 shares of the transportation company's stock valued at $10,524,000 after acquiring an additional 16,443 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Alaska Air Group by 6.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,213,630 shares of the transportation company's stock valued at $45,001,000 after acquiring an additional 71,726 shares in the last quarter. Institutional investors own 81.90% of the company's stock.

Insider Buying and Selling

In other news, EVP Andrew R. Harrison sold 6,500 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total value of $249,340.00. Following the transaction, the executive vice president now owns 26,048 shares of the company's stock, valued at approximately $999,201.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.92% of the stock is currently owned by insiders.

Alaska Air Group Company Profile

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.