Alaska Air Group, Inc. (NYSE:ALK) Expected to Announce Quarterly Sales of $2.45 Billion

Analysts expect Alaska Air Group, Inc. (NYSE:ALKGet Rating) to announce $2.45 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Alaska Air Group’s earnings. The highest sales estimate is $2.46 billion and the lowest is $2.43 billion. Alaska Air Group reported sales of $1.53 billion during the same quarter last year, which indicates a positive year over year growth rate of 60.1%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Alaska Air Group will report full-year sales of $9.45 billion for the current fiscal year, with estimates ranging from $9.16 billion to $9.84 billion. For the next financial year, analysts anticipate that the firm will report sales of $10.02 billion, with estimates ranging from $8.90 billion to $10.64 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Alaska Air Group.

Alaska Air Group (NYSE:ALKGet Rating) last issued its earnings results on Thursday, April 21st. The transportation company reported ($1.33) earnings per share for the quarter, beating the consensus estimate of ($1.58) by $0.25. Alaska Air Group had a net margin of 6.60% and a return on equity of 0.36%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the business earned ($3.51) EPS. The firm’s revenue was up 110.9% on a year-over-year basis.

Several equities analysts recently commented on the company. Zacks Investment Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Tuesday, April 26th. Cowen boosted their target price on shares of Alaska Air Group from $66.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, March 25th. Morgan Stanley lowered their target price on shares of Alaska Air Group from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, March 25th. Wolfe Research initiated coverage on shares of Alaska Air Group in a research report on Tuesday, February 15th. They issued an “outperform” rating and a $67.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of Alaska Air Group from $97.00 to $103.00 and gave the stock an “overweight” rating in a report on Friday, April 22nd. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Alaska Air Group has a consensus rating of “Buy” and a consensus target price of $75.75.

NYSE ALK traded up $1.54 during trading on Monday, reaching $46.15. 2,044,123 shares of the company traded hands, compared to its average volume of 2,064,339. Alaska Air Group has a 1-year low of $43.39 and a 1-year high of $72.92. The company has a market cap of $5.82 billion, a price-to-earnings ratio of 12.54 and a beta of 1.43. The stock’s 50 day moving average price is $53.74 and its two-hundred day moving average price is $53.76. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.85 and a current ratio of 0.87.

In other Alaska Air Group news, CFO Shane R. Tackett sold 2,000 shares of the company’s stock in a transaction on Friday, February 18th. The stock was sold at an average price of $58.84, for a total transaction of $117,680.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.40% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of ALK. Clearbridge Investments LLC acquired a new position in Alaska Air Group during the 1st quarter worth $62,390,000. Lord Abbett & CO. LLC acquired a new position in Alaska Air Group during the 3rd quarter worth $43,192,000. Millennium Management LLC lifted its stake in shares of Alaska Air Group by 44.7% in the 4th quarter. Millennium Management LLC now owns 2,194,202 shares of the transportation company’s stock valued at $114,318,000 after purchasing an additional 678,268 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Alaska Air Group by 9.3% in the 1st quarter. Victory Capital Management Inc. now owns 6,341,707 shares of the transportation company’s stock valued at $367,863,000 after purchasing an additional 539,580 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Alaska Air Group by 28.2% in the 4th quarter. Invesco Ltd. now owns 2,290,015 shares of the transportation company’s stock valued at $119,310,000 after purchasing an additional 503,198 shares during the period. 72.26% of the stock is currently owned by hedge funds and other institutional investors.

Alaska Air Group Company Profile (Get Rating)

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 flies to approximately 120 destinations throughout North America. Alaska Air Group, Inc was founded in 1932 and is based in Seattle, Washington.

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