Alaska Air Group, Inc. (ALK) Expected to Announce Quarterly Sales of $2.28 Billion

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Wall Street brokerages expect Alaska Air Group, Inc. (NYSE:ALK) to report sales of $2.28 billion for the current quarter, according to Zacks. Five analysts have made 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 in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.6%. The firm is scheduled to issue its next quarterly 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 forecast that the firm will report sales of $9.26 billion, with estimates ranging from $9.08 billion to $9.38 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 announced its earnings results on Thursday, April 25th. The transportation company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.87 billion. Alaska Air Group had a net margin of 5.26% and a return on equity of 14.97%. Alaska Air Group’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $0.14 earnings per share.

Several research analysts have commented on the stock. Vertical Research assumed coverage on shares of Alaska Air Group in a research note on Monday, February 4th. They set a “hold” rating on the stock. Macquarie raised shares of Alaska Air Group from a “neutral” rating to an “outperform” rating and set a $63.48 price target on the stock in a research note on Monday, January 28th. Imperial Capital reissued an “outperform” rating and set a $90.00 price target (down from $93.00) on shares of Alaska Air Group in a research note on Monday, January 28th. TheStreet downgraded shares of Alaska Air Group from a “b-” rating to a “c” rating in a research note on Thursday, January 24th. Finally, Morgan Stanley lifted their price target on shares of Alaska Air Group from $76.00 to $81.00 and gave the stock an “overweight” rating in a research note on Monday. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $76.43.

In related news, VP Brandon Pedersen sold 4,026 shares of Alaska Air Group stock in a transaction on Friday, March 1st. The shares were sold at an average price of $62.00, for a total value of $249,612.00. Following the sale, the vice president now owns 26,524 shares in the company, valued at $1,644,488. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Andrew R. Harrison sold 1,600 shares of Alaska Air Group stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $61.53, for a total transaction of $98,448.00. Following the completion of the sale, the executive vice president now owns 20,567 shares in the company, valued at approximately $1,265,487.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,326 shares of company stock worth $642,421. 0.43% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Hi Line Capital Management LLC boosted its holdings in shares of Alaska Air Group by 1.5% during the 1st quarter. Hi Line Capital Management LLC now owns 90,159 shares of the transportation company’s stock valued at $5,060,000 after buying an additional 1,306 shares in the last quarter. ZWJ Investment Counsel Inc. boosted its holdings in shares of Alaska Air Group by 6.6% during the 1st quarter. ZWJ Investment Counsel Inc. now owns 167,469 shares of the transportation company’s stock valued at $9,398,000 after buying an additional 10,414 shares in the last quarter. Advisory Services Network LLC boosted its holdings in shares of Alaska Air Group by 29.4% during the 1st quarter. Advisory Services Network LLC now owns 7,515 shares of the transportation company’s stock valued at $422,000 after buying an additional 1,706 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Alaska Air Group by 8.8% during the 1st quarter. Nordea Investment Management AB now owns 73,775 shares of the transportation company’s stock valued at $4,141,000 after buying an additional 5,946 shares in the last quarter. Finally, Financial Advocates Investment Management boosted its holdings in shares of Alaska Air Group by 3.2% during the 1st quarter. Financial Advocates Investment Management now owns 6,858 shares of the transportation company’s stock valued at $385,000 after buying an additional 213 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Shares of ALK stock traded down $0.65 during trading hours on Friday, hitting $60.71. 5,112 shares of the company’s stock were exchanged, compared to its average volume of 1,563,817. The company has a market capitalization of $7.59 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 0.64 and a beta of 0.84. Alaska Air Group has a 12-month low of $53.39 and a 12-month high of $74.83. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.57 and a current ratio of 0.59.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Tuesday, May 21st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Monday, May 20th. Alaska Air Group’s payout ratio is 31.39%.

About Alaska Air Group

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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