$2.18 Billion in Sales Expected for Alaska Air Group, Inc. (ALK) This Quarter
Equities analysts expect Alaska Air Group, Inc. (NYSE:ALK) to announce sales of $2.18 billion for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Alaska Air Group’s earnings, with the lowest sales estimate coming in at $2.15 billion and the highest estimate coming in at $2.20 billion. Alaska Air Group reported sales of $1.57 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 38.9%. The business is expected to report its next earnings report before the market opens on Wednesday, October 25th.
According to Zacks, analysts expect that Alaska Air Group will report full-year sales of $2.18 billion for the current fiscal year, with estimates ranging from $7.93 billion to $8.09 billion. For the next fiscal year, analysts expect that the company will post sales of $8.70 billion per share, with estimates ranging from $8.51 billion to $8.90 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Alaska Air Group.
Alaska Air Group (NYSE:ALK) last posted its earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.52 by ($0.01). The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. The business’s revenue for the quarter was up 40.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.12 earnings per share.
A number of equities analysts recently commented on ALK shares. BidaskClub cut shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Barclays PLC reissued a “buy” rating on shares of Alaska Air Group in a research report on Thursday, September 14th. Morgan Stanley reduced their price objective on shares of Alaska Air Group from $101.00 to $96.00 and set an “overweight” rating on the stock in a research report on Thursday, August 17th. Stifel Nicolaus reissued a “buy” rating and issued a $125.00 price objective on shares of Alaska Air Group in a research report on Saturday, September 23rd. Finally, Zacks Investment Research downgraded shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $103.59.
In other Alaska Air Group news, Chairman Bradley D. Tilden sold 5,600 shares of Alaska Air Group stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $94.48, for a total transaction of $529,088.00. Following the completion of the sale, the chairman now directly owns 145,546 shares of the company’s stock, valued at approximately $13,751,186.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Andrew R. Harrison sold 2,350 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $86.03, for a total value of $202,170.50. Following the completion of the sale, the executive vice president now owns 21,328 shares of the company’s stock, valued at $1,834,847.84. The disclosure for this sale can be found here. In the last three months, insiders sold 10,350 shares of company stock worth $937,251. 0.57% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Mountain Capital Investment Advisors Inc bought a new stake in shares of Alaska Air Group in the second quarter valued at about $122,000. Bessemer Group Inc. lifted its stake in Alaska Air Group by 57.9% in the second quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock worth $171,000 after acquiring an additional 695 shares during the period. Twin Tree Management LP purchased a new stake in Alaska Air Group in the first quarter worth about $179,000. Rehmann Capital Advisory Group purchased a new stake in Alaska Air Group in the second quarter worth about $201,000. Finally, Verity Asset Management Inc. bought a new position in Alaska Air Group during the 1st quarter worth about $218,000. Hedge funds and other institutional investors own 87.76% of the company’s stock.
Shares of Alaska Air Group (ALK) opened at 80.15 on Wednesday. The company has a 50 day moving average price of $75.80 and a 200 day moving average price of $85.30. The company has a market capitalization of $9.90 billion, a PE ratio of 13.03 and a beta of 0.99. Alaska Air Group has a 1-year low of $67.76 and a 1-year high of $101.43.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Friday, August 18th. Alaska Air Group’s dividend payout ratio is presently 19.48%.
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Alaska Air Group Company Profile
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.
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