Wall Street analysts forecast that Alaska Air Group, Inc. (NYSE:ALK) will report $2.21 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Alaska Air Group’s earnings, with the highest sales estimate coming in at $2.22 billion and the lowest estimate coming in at $2.20 billion. Alaska Air Group posted sales of $2.12 billion during the same quarter last year, which would indicate a positive year over year growth rate of 4.2%. The firm is expected to report its next quarterly earnings results on Wednesday, October 24th.
According to Zacks, analysts expect that Alaska Air Group will report full-year sales of $8.26 billion for the current year, with estimates ranging from $8.24 billion to $8.28 billion. For the next financial year, analysts expect that the firm will report sales of $8.75 billion per share, with estimates ranging from $8.66 billion to $8.88 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Alaska Air Group.
Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, July 26th. The transportation company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.03. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Alaska Air Group had a return on equity of 16.99% and a net margin of 10.28%. Alaska Air Group’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.48 EPS.
Several equities research analysts recently weighed in on ALK shares. Buckingham Research dropped their target price on Alaska Air Group from $86.00 to $84.00 and set a “buy” rating for the company in a report on Friday, July 27th. Stifel Nicolaus dropped their target price on Alaska Air Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, July 27th. Barclays dropped their target price on Alaska Air Group from $80.00 to $68.00 and set an “equal weight” rating for the company in a report on Monday, July 16th. ValuEngine upgraded Alaska Air Group from a “sell” rating to a “hold” rating in a report on Monday, July 30th. Finally, Imperial Capital dropped their target price on Alaska Air Group from $65.00 to $62.00 and set an “inline” rating for the company in a report on Wednesday, June 20th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $78.77.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Camarda Financial Advisors LLC purchased a new stake in Alaska Air Group in the 2nd quarter worth approximately $101,000. Mount Yale Investment Advisors LLC purchased a new stake in Alaska Air Group in the 1st quarter worth approximately $105,000. Centaurus Financial Inc. purchased a new stake in Alaska Air Group in the 2nd quarter worth approximately $118,000. Asset Management One Co. Ltd. lifted its holdings in Alaska Air Group by 307.9% in the 1st quarter. Asset Management One Co. Ltd. now owns 2,178 shares of the transportation company’s stock worth $135,000 after buying an additional 1,644 shares during the period. Finally, BDO Wealth Advisors LLC lifted its holdings in Alaska Air Group by 485.0% in the 1st quarter. BDO Wealth Advisors LLC now owns 3,071 shares of the transportation company’s stock worth $190,000 after buying an additional 2,546 shares during the period. Institutional investors and hedge funds own 88.82% of the company’s stock.
ALK stock traded down $0.16 during trading on Friday, hitting $66.88. 1,025,900 shares of the company traded hands, compared to its average volume of 2,197,461. The stock has a market capitalization of $8.42 billion, a PE ratio of 10.17, a P/E/G ratio of 2.39 and a beta of 0.57. Alaska Air Group has a 1 year low of $57.53 and a 1 year high of $82.68. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.73 and a quick ratio of 0.71.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 6th. Shareholders of record on Tuesday, August 21st were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Monday, August 20th. Alaska Air Group’s dividend payout ratio (DPR) is currently 19.28%.
Alaska Air Group Company Profile
Alaska Air Group, Inc, through its subsidiaries, provides passengers and cargo air transportation services. It also focuses on providing ground and ramp handling services to airlines. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 118 destinations across the United States, Mexico, Canada, and Costa Rica.
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