Alaska Air Group (NYSE:ALK) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Alaska Air Group (NYSE:ALK) posted its quarterly earnings results on Thursday. The transportation company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03, Briefing.com reports. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the previous year, the company earned $1.83 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. Alaska Air Group updated its FY 2024 guidance to 4.000- EPS and its Q4 2024 guidance to 0.200-0.400 EPS.

Alaska Air Group Stock Performance

Shares of NYSE:ALK traded up $1.28 on Friday, hitting $49.19. The company had a trading volume of 2,133,699 shares, compared to its average volume of 2,271,398. Alaska Air Group has a 1-year low of $31.44 and a 1-year high of $50.16. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 0.73 and a beta of 1.60. The stock has a 50 day moving average price of $41.92 and a 200 day moving average price of $40.80. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55.

Analyst Ratings Changes

A number of research firms have weighed in on ALK. Bank of America lifted their price target on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Morgan Stanley decreased their price target on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. TD Cowen decreased their price target on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Barclays began coverage on shares of Alaska Air Group in a research note on Monday, October 21st. They issued an “overweight” rating and a $55.00 target price on the stock. Finally, Citigroup reduced their target price on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.