Alaska Air Group (NYSE:ALK) Updates Q4 2024 Earnings Guidance

Alaska Air Group (NYSE:ALK) issued an update on its fourth quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.400-0.500 for the period, compared to the consensus earnings per share estimate of 0.350. The company issued revenue guidance of -. Alaska Air Group also updated its FY 2024 guidance to 4.250-4.500 EPS.

Alaska Air Group Stock Down 0.5 %

Shares of NYSE ALK opened at $64.63 on Friday. Alaska Air Group has a 1 year low of $32.62 and a 1 year high of $65.62. The firm has a 50-day simple moving average of $52.17 and a two-hundred day simple moving average of $43.62. The company has a market cap of $8.20 billion, a P/E ratio of 26.06, a PEG ratio of 1.24 and a beta of 1.60. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. The firm had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. Alaska Air Group’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company earned $1.83 EPS. Research analysts anticipate that Alaska Air Group will post 4.3 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Citigroup raised their price target on shares of Alaska Air Group from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $70.00 price target on shares of Alaska Air Group in a research note on Friday, November 15th. Morgan Stanley increased their price objective on Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Melius raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Monday, October 28th. Finally, Bank of America increased their price target on Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.86.

Insider Buying and Selling

In other Alaska Air Group news, VP Emily Halverson sold 1,329 shares of Alaska Air Group stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $64.41, for a total value of $85,600.89. Following the sale, the vice president now owns 7,150 shares in the company, valued at $460,531.50. The trade was a 15.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrea L. Schneider sold 800 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $63.89, for a total value of $51,112.00. Following the transaction, the senior vice president now owns 20,286 shares of the company’s stock, valued at approximately $1,296,072.54. This represents a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,473 shares of company stock worth $2,198,342. 0.68% of the stock is owned by insiders.

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.