Brokerages forecast that Alaska Air Group, Inc. (NYSE:ALK) will post sales of $2.28 billion for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Alaska Air Group’s earnings, with estimates ranging from $2.25 billion to $2.32 billion. Alaska Air Group posted sales of $2.16 billion during the same quarter last year, which suggests a positive year over year growth rate of 5.6%. The business is scheduled to issue its next earnings report on Thursday, July 25th.
According to Zacks, analysts expect that Alaska Air Group will report full year sales of $8.69 billion for the current year, with estimates ranging from $8.63 billion to $8.84 billion. For the next year, analysts expect that the company will post sales of $9.26 billion, with estimates ranging from $9.08 billion to $9.38 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Alaska Air Group.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, April 25th. The transportation company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. Alaska Air Group had a return on equity of 14.97% and a net margin of 5.26%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $0.14 EPS.
A number of research analysts recently weighed in on ALK shares. Buckingham Research dropped their price objective on Alaska Air Group from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, March 8th. Zacks Investment Research lowered Alaska Air Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 16th. Citigroup dropped their price objective on Alaska Air Group from $74.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. ValuEngine lowered Alaska Air Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Finally, Deutsche Bank dropped their price objective on Alaska Air Group from $73.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $76.43.
In related news, EVP Andrew R. Harrison sold 4,700 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $62.63, for a total transaction of $294,361.00. Following the transaction, the executive vice president now directly owns 15,867 shares in the company, valued at $993,750.21. 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 1,600 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $61.53, for a total value of $98,448.00. Following the transaction, the executive vice president now owns 20,567 shares in the company, valued at $1,265,487.51. The disclosure for this sale can be found here. 0.43% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its stake in Alaska Air Group by 1,307.7% during the first quarter. Victory Capital Management Inc. now owns 1,947,067 shares of the transportation company’s stock worth $109,269,000 after acquiring an additional 1,808,754 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its stake in Alaska Air Group by 65.0% during the first quarter. Thompson Siegel & Walmsley LLC now owns 1,812,028 shares of the transportation company’s stock worth $101,691,000 after acquiring an additional 713,959 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of Alaska Air Group by 34.6% in the first quarter. Diamond Hill Capital Management Inc. now owns 2,257,103 shares of the transportation company’s stock valued at $126,669,000 after buying an additional 579,823 shares in the last quarter. Norges Bank acquired a new stake in shares of Alaska Air Group in the fourth quarter valued at about $31,868,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Alaska Air Group by 21.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,883,681 shares of the transportation company’s stock valued at $175,468,000 after buying an additional 503,977 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.
Shares of NYSE:ALK traded up $0.29 during midday trading on Tuesday, reaching $62.45. 371,868 shares of the company’s stock were exchanged, compared to its average volume of 889,942. The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.62 and a beta of 0.84. Alaska Air Group has a fifty-two week low of $53.39 and a fifty-two week high of $74.83.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Tuesday, May 21st were given a $0.35 dividend. The ex-dividend date was Monday, May 20th. This represents a $1.40 annualized dividend and a dividend yield of 2.24%. Alaska Air Group’s dividend payout ratio is currently 31.39%.
Alaska Air Group Company Profile
Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.
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