Zacks: Analysts Expect Alaska Air Group, Inc. (ALK) Will Announce Quarterly Sales of $2.03 Billion

Wall Street brokerages expect Alaska Air Group, Inc. (NYSE:ALK) to post $2.03 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Alaska Air Group’s earnings, with the lowest sales estimate coming in at $2.02 billion and the highest estimate coming in at $2.04 billion. Alaska Air Group reported sales of $1.96 billion during the same quarter last year, which indicates a positive year over year growth rate of 3.6%. The firm is expected to report its next earnings results on Thursday, January 24th.

According to Zacks, analysts expect that Alaska Air Group will report full year sales of $8.23 billion for the current fiscal year, with estimates ranging from $8.22 billion to $8.24 billion. For the next year, analysts expect that the company will post sales of $8.81 billion, with estimates ranging from $8.72 billion to $8.89 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Alaska Air Group.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, October 25th. The transportation company reported $1.91 EPS for the quarter, beating the Zacks’ consensus estimate of $1.81 by $0.10. Alaska Air Group had a return on equity of 15.51% and a net margin of 9.57%. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.20 billion.

A number of brokerages have commented on ALK. ValuEngine raised Alaska Air Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Barclays raised their price objective on Alaska Air Group from $68.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, November 15th. Macquarie cut Alaska Air Group from an “outperform” rating to a “neutral” rating in a research note on Monday, July 30th. Deutsche Bank raised their price objective on Alaska Air Group from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, October 10th. Finally, Morgan Stanley raised their price objective on Alaska Air Group from $72.00 to $76.00 and gave the company an “overweight” rating in a research note on Wednesday, November 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $78.00.

Alaska Air Group stock traded up $1.50 during mid-day trading on Friday, reaching $68.52. The stock had a trading volume of 1,182,223 shares, compared to its average volume of 1,378,785. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.69 and a current ratio of 0.71. Alaska Air Group has a fifty-two week low of $57.53 and a fifty-two week high of $76.06. The stock has a market capitalization of $8.26 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 5.02 and a beta of 0.60.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Tuesday, November 20th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, November 19th. This represents a $1.28 annualized dividend and a dividend yield of 1.87%. Alaska Air Group’s payout ratio is 19.28%.

In related news, EVP Andrew R. Harrison sold 930 shares of Alaska Air Group stock in a transaction on Monday, October 29th. The stock was sold at an average price of $62.55, for a total transaction of $58,171.50. Following the sale, the executive vice president now directly owns 21,562 shares in the company, valued at $1,348,703.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Shane R. Tackett sold 3,000 shares of Alaska Air Group stock in a transaction on Friday, September 7th. The stock was sold at an average price of $66.81, for a total value of $200,430.00. Following the sale, the executive vice president now owns 8,238 shares in the company, valued at $550,380.78. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Alaska Air Group by 1.2% during the third quarter. BlackRock Inc. now owns 6,917,114 shares of the transportation company’s stock worth $476,313,000 after acquiring an additional 82,310 shares during the period. Primecap Management Co. CA lifted its holdings in Alaska Air Group by 0.4% during the third quarter. Primecap Management Co. CA now owns 6,024,607 shares of the transportation company’s stock worth $414,854,000 after acquiring an additional 23,300 shares during the period. Franklin Resources Inc. lifted its holdings in Alaska Air Group by 0.3% during the third quarter. Franklin Resources Inc. now owns 3,225,576 shares of the transportation company’s stock worth $222,113,000 after acquiring an additional 10,502 shares during the period. Alliancebernstein L.P. lifted its holdings in Alaska Air Group by 50.7% during the third quarter. Alliancebernstein L.P. now owns 2,584,097 shares of the transportation company’s stock worth $177,941,000 after acquiring an additional 869,058 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Alaska Air Group by 34.0% during the third quarter. Dimensional Fund Advisors LP now owns 2,379,704 shares of the transportation company’s stock worth $163,868,000 after acquiring an additional 604,218 shares during the period. Institutional investors and hedge funds own 89.82% of the company’s stock.

About Alaska Air Group

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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