Brokerages Expect Alaska Air Group, Inc. (NYSE:ALK) Will Announce Earnings of $2.17 Per Share

Equities analysts predict that Alaska Air Group, Inc. (NYSE:ALK) will post earnings of $2.17 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Alaska Air Group’s earnings. The highest EPS estimate is $2.41 and the lowest is $2.02. Alaska Air Group posted earnings per share of $1.91 in the same quarter last year, which would suggest a positive year-over-year growth rate of 13.6%. The company is expected to report its next quarterly earnings report on Thursday, October 24th.

On average, analysts expect that Alaska Air Group will report full-year earnings of $5.89 per share for the current year, with EPS estimates ranging from $5.56 to $6.29. For the next year, analysts anticipate that the firm will report earnings of $7.03 per share, with EPS estimates ranging from $6.45 to $7.60. Zacks’ EPS calculations are an average based on a survey of research firms that follow Alaska Air Group.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Thursday, July 25th. The transportation company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.06. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Alaska Air Group had a return on equity of 16.28% and a net margin of 6.00%. Alaska Air Group’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business posted $1.66 EPS.

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. upgraded Alaska Air Group from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $71.00 to $72.00 in a report on Tuesday, April 30th. Morgan Stanley lifted their target price on Alaska Air Group from $76.00 to $81.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Deutsche Bank dropped their target price on Alaska Air Group from $73.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. TheStreet raised Alaska Air Group from a “c” rating to a “b” rating in a research report on Thursday, July 25th. Finally, Citigroup set a $66.00 target price on Alaska Air Group and gave the stock a “hold” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $73.36.

In related news, VP Kyle B. Levine sold 2,430 shares of Alaska Air Group stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $157,950.00. Following the completion of the transaction, the vice president now directly owns 8,039 shares in the company, valued at $522,535. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.43% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of ALK. Dimensional Fund Advisors LP grew its stake in shares of Alaska Air Group by 21.2% during 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 purchasing an additional 503,977 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Alaska Air Group by 9.8% in the 4th quarter. Geode Capital Management LLC now owns 1,858,086 shares of the transportation company’s stock valued at $112,942,000 after acquiring an additional 165,833 shares during the period. State of Alaska Department of Revenue grew its position in shares of Alaska Air Group by 10.1% in the 1st quarter. State of Alaska Department of Revenue now owns 26,274 shares of the transportation company’s stock valued at $1,473,000 after acquiring an additional 2,409 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of Alaska Air Group in the 1st quarter valued at about $309,000. Finally, Virtu Financial LLC boosted its holdings in shares of Alaska Air Group by 12.3% during the 1st quarter. Virtu Financial LLC now owns 4,097 shares of the transportation company’s stock worth $230,000 after buying an additional 448 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Shares of ALK stock traded down $0.30 during mid-day trading on Friday, hitting $59.51. 26,479 shares of the company’s stock were exchanged, compared to its average volume of 1,107,423. Alaska Air Group has a fifty-two week low of $53.39 and a fifty-two week high of $74.83. The stock has a 50-day simple moving average of $63.21 and a two-hundred day simple moving average of $61.27. The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 0.75. The stock has a market cap of $7.37 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 0.48 and a beta of 0.86.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Tuesday, August 20th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $1.40 dividend on an annualized basis and a yield of 2.35%. Alaska Air Group’s dividend payout ratio (DPR) 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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