Imperial Capital Brokers Raise Earnings Estimates for Alaska Air Group, Inc. (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALK) – Research analysts at Imperial Capital increased their Q1 2018 earnings per share (EPS) estimates for shares of Alaska Air Group in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. Imperial Capital analyst M. Derchin now forecasts that the transportation company will post earnings of $0.50 per share for the quarter, up from their prior estimate of $0.41. Imperial Capital currently has a “In-Line” rating and a $66.00 price target 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.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Thursday, January 25th. The transportation company reported $0.83 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.83. Alaska Air Group had a return on equity of 24.40% and a net margin of 12.96%. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the company posted $1.56 earnings per share. The company’s revenue was up 28.7% compared to the same quarter last year.

Several other equities research analysts have also issued reports on ALK. Buckingham Research dropped their price target on Alaska Air Group from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Friday, January 26th. JPMorgan Chase & Co. lowered Alaska Air Group from a “neutral” rating to an “underweight” rating and lifted their price target for the stock from $65.48 to $67.00 in a research note on Tuesday, January 30th. Cowen reissued an “outperform” rating and issued a $84.00 target price (down previously from $93.00) on shares of Alaska Air Group in a research note on Friday, January 26th. Morgan Stanley lowered their target price on Alaska Air Group from $86.00 to $80.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. Finally, Deutsche Bank lowered their target price on Alaska Air Group from $99.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $87.68.

Shares of Alaska Air Group (NYSE:ALK) traded up $1.29 during mid-day trading on Friday, reaching $66.01. The company’s stock had a trading volume of 3,346,209 shares, compared to its average volume of 3,160,000. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.78 and a current ratio of 0.79. Alaska Air Group has a 52-week low of $59.25 and a 52-week high of $101.43. The company has a market capitalization of $8,120.00, a price-to-earnings ratio of 7.96, a P/E/G ratio of 3.33 and a beta of 0.85.

Hedge funds have recently bought and sold shares of the business. Mountain Capital Investment Advisors Inc purchased a new position in shares of Alaska Air Group during the 2nd quarter worth approximately $122,000. Exane Derivatives purchased a new position in shares of Alaska Air Group during the 4th quarter worth approximately $105,000. Mercer Capital Advisers Inc. purchased a new position in shares of Alaska Air Group during the 3rd quarter worth approximately $116,000. Bank of Nova Scotia Trust Co. purchased a new position in shares of Alaska Air Group during the 3rd quarter worth approximately $153,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Alaska Air Group by 55.3% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,495 shares of the transportation company’s stock worth $186,000 after acquiring an additional 888 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

In other Alaska Air Group news, CEO David L. Campbell sold 4,934 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $68.00, for a total transaction of $335,512.00. Following the completion of the transaction, the chief executive officer now owns 9,648 shares of the company’s stock, valued at approximately $656,064. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew R. Harrison sold 540 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 20,788 shares of the company’s stock, valued at approximately $1,362,237.64. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Tuesday, February 20th will be given a dividend of $0.32 per share. This is a positive change from Alaska Air Group’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.28 dividend on an annualized basis and a yield of 1.94%. Alaska Air Group’s dividend payout ratio is presently 14.48%.

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About Alaska Air Group

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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Earnings History and Estimates for Alaska Air Group (NYSE:ALK)

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