Research Analysts Issue Forecasts for Alaska Air Group, Inc.’s Q2 2023 Earnings (NYSE:ALK)

Posted by on Mar 17th, 2023

Alaska Air Group, Inc. (NYSE:ALK – Get Rating) – Stock analysts at Seaport Res Ptn boosted their Q2 2023 earnings per share (EPS) estimates for shares of Alaska Air Group in a note issued to investors on Tuesday, March 14th. Seaport Res Ptn analyst D. Mckenzie now forecasts that the transportation company will earn $2.50 per share for the quarter, up from their previous forecast of $2.45. The consensus estimate for Alaska Air Group’s current full-year earnings is $5.99 per share.

Alaska Air Group (NYSE:ALK – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The transportation company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. Alaska Air Group had a return on equity of 14.75% and a net margin of 0.60%. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the business earned $0.24 EPS. Alaska Air Group’s revenue was up 30.5% on a year-over-year basis.

Other research analysts also recently issued research reports about the company. StockNews.com assumed coverage on Alaska Air Group in a report on Thursday. They issued a “hold” rating on the stock. Barclays upgraded Alaska Air Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $54.00 to $62.00 in a report on Friday, March 10th. Raymond James increased their price objective on Alaska Air Group from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, January 5th. Morgan Stanley increased their price objective on Alaska Air Group from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, January 30th. Finally, Susquehanna increased their price objective on Alaska Air Group from $55.00 to $59.00 and gave the company a “positive” rating in a report on Thursday, February 2nd. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $65.05.

Alaska Air Group Price Performance

Shares of NYSE ALK opened at $40.48 on Thursday. The stock’s 50-day moving average is $48.87 and its two-hundred day moving average is $45.64. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.65. Alaska Air Group has a 1-year low of $38.19 and a 1-year high of $61.55. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 93.91, a price-to-earnings-growth ratio of 0.38 and a beta of 1.54.

Insider Activity at Alaska Air Group

In other Alaska Air Group news, SVP Andrea L. Schneider sold 1,596 shares of the stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $50.81, for a total transaction of $81,092.76. Following the completion of the sale, the senior vice president now directly owns 15,747 shares of the company’s stock, valued at approximately $800,105.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alaska Air Group news, SVP Andrea L. Schneider sold 1,596 shares of the stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $50.81, for a total transaction of $81,092.76. Following the completion of the sale, the senior vice president now directly owns 15,747 shares of the company’s stock, valued at approximately $800,105.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Kenneth Thompson sold 3,500 shares of the stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $48.58, for a total value of $170,030.00. Following the sale, the director now directly owns 29,907 shares of the company’s stock, valued at $1,452,882.06. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Institutional Trading of Alaska Air Group

Hedge funds have recently added to or reduced their stakes in the stock. Voya Investment Management LLC raised its stake in shares of Alaska Air Group by 5.0% during the 4th quarter. Voya Investment Management LLC now owns 45,174 shares of the transportation company’s stock worth $1,940,000 after buying an additional 2,166 shares in the last quarter. Garde Capital Inc. raised its stake in shares of Alaska Air Group by 3.1% during the 4th quarter. Garde Capital Inc. now owns 27,292 shares of the transportation company’s stock worth $1,172,000 after buying an additional 816 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Alaska Air Group by 8.9% during the 4th quarter. Macquarie Group Ltd. now owns 32,384 shares of the transportation company’s stock worth $1,391,000 after buying an additional 2,660 shares in the last quarter. Truist Financial Corp raised its stake in shares of Alaska Air Group by 33.2% during the 4th quarter. Truist Financial Corp now owns 21,953 shares of the transportation company’s stock worth $943,000 after buying an additional 5,475 shares in the last quarter. Finally, American Trust raised its stake in shares of Alaska Air Group by 8.0% during the 4th quarter. American Trust now owns 7,777 shares of the transportation company’s stock worth $334,000 after buying an additional 573 shares in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Alaska Air Group Company Profile

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Alaska Air Group, Inc is a holding company, which engages in the provision of air transportation services. It operates through the following segments: Mainline, Regional, and Horizon. The Mainline segment includes scheduled air transportation on Alaska’s Boeing and Airbus jet aircraft for passengers and cargo throughout the U.S., and in parts of Mexico, Costa Rica and Belize.

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