Zacks: Analysts Expect Alaska Air Group, Inc. (NYSE:ALK) to Post -$3.73 Earnings Per Share

Brokerages forecast that Alaska Air Group, Inc. (NYSE:ALK) will report ($3.73) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Alaska Air Group’s earnings, with the highest EPS estimate coming in at ($2.40) and the lowest estimate coming in at ($4.50). Alaska Air Group reported earnings per share of $2.17 during the same quarter last year, which would indicate a negative year-over-year growth rate of 271.9%. The company is expected to issue its next quarterly earnings report on Thursday, July 23rd.

According to Zacks, analysts expect that Alaska Air Group will report full-year earnings of ($5.40) per share for the current year, with EPS estimates ranging from ($7.90) to ($1.32). For the next year, analysts anticipate that the business will report earnings of $3.81 per share, with EPS estimates ranging from $2.93 to $5.55. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Alaska Air Group.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Tuesday, May 5th. The transportation company reported ($0.82) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.27) by $0.45. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.71 billion. Alaska Air Group had a net margin of 6.24% and a return on equity of 16.29%. The firm’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 earnings per share.

ALK has been the subject of several analyst reports. Deutsche Bank decreased their price objective on shares of Alaska Air Group from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Raymond James decreased their price target on shares of Alaska Air Group from $84.00 to $40.00 and set a “strong-buy” rating for the company in a research note on Monday, March 23rd. Credit Suisse Group reaffirmed an “outperform” rating and set a $51.00 price target on shares of Alaska Air Group in a research note on Monday, May 18th. Bank of America decreased their price target on shares of Alaska Air Group from $51.00 to $37.00 and set a “neutral” rating for the company in a research note on Monday, March 23rd. Finally, Buckingham Research downgraded shares of Alaska Air Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $84.00 to $51.00 in a research note on Thursday, February 27th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $52.54.

A number of large investors have recently modified their holdings of ALK. Wealth Quarterback LLC bought a new position in Alaska Air Group in the fourth quarter worth approximately $1,165,911,000. FMR LLC raised its stake in Alaska Air Group by 99.2% in the fourth quarter. FMR LLC now owns 2,546,789 shares of the transportation company’s stock worth $172,544,000 after buying an additional 1,268,179 shares in the last quarter. Parnassus Investments CA raised its stake in Alaska Air Group by 56.8% in the first quarter. Parnassus Investments CA now owns 2,900,000 shares of the transportation company’s stock worth $82,563,000 after buying an additional 1,050,000 shares in the last quarter. AQR Capital Management LLC raised its stake in Alaska Air Group by 212.9% in the first quarter. AQR Capital Management LLC now owns 1,153,145 shares of the transportation company’s stock worth $32,830,000 after buying an additional 784,660 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Alaska Air Group by 398.7% in the fourth quarter. Renaissance Technologies LLC now owns 832,327 shares of the transportation company’s stock worth $56,390,000 after buying an additional 665,427 shares in the last quarter. 86.47% of the stock is owned by institutional investors.

NYSE ALK traded down $0.82 during trading on Monday, hitting $31.02. The stock had a trading volume of 2,886,672 shares, compared to its average volume of 3,257,700. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.67 and a current ratio of 0.69. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 5.85 and a beta of 1.49. Alaska Air Group has a one year low of $20.02 and a one year high of $72.22. The stock has a 50 day simple moving average of $28.74 and a 200 day simple moving average of $52.74.

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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