Brokerages expect Alaska Air Group, Inc. (NYSE:ALK) to announce $2.20 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Alaska Air Group’s earnings, with the highest sales estimate coming in at $2.22 billion and the lowest estimate coming in at $2.19 billion. Alaska Air Group reported sales of $2.12 billion in the same quarter last year, which indicates a positive year over year growth rate of 3.8%. The company is expected to issue its next earnings report on Wednesday, October 24th.

According to Zacks, analysts expect that Alaska Air Group will report full year sales of $8.25 billion for the current financial year, with estimates ranging from $8.22 billion to $8.28 billion. For the next year, analysts forecast that the business will report sales of $8.74 billion per share, with estimates ranging from $8.65 billion to $8.88 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Alaska Air Group.

Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, July 26th. The transportation company reported $1.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.03. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Alaska Air Group had a net margin of 10.28% and a return on equity of 16.99%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.48 earnings per share.

Several analysts have recently issued reports on the stock. Buckingham Research lowered their price target on shares of Alaska Air Group from $84.00 to $83.00 and set a “buy” rating on the stock in a research report on Monday. TheStreet raised shares of Alaska Air Group from a “c+” rating to a “b-” rating in a research report on Wednesday, September 19th. Stifel Nicolaus lowered their price target on shares of Alaska Air Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, July 27th. Bank of America lowered their price target on shares of Alaska Air Group from $70.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, July 27th. Finally, Macquarie lowered shares of Alaska Air Group from an “outperform” rating to a “neutral” rating in a research report on Monday, July 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $78.69.

ALK traded down $2.79 during midday trading on Wednesday, reaching $67.29. The company had a trading volume of 1,436,100 shares, compared to its average volume of 2,134,915. The company has a quick ratio of 0.71, a current ratio of 0.73 and a debt-to-equity ratio of 0.56. The stock has a market cap of $8.63 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 2.43 and a beta of 0.57. Alaska Air Group has a 12-month low of $57.53 and a 12-month high of $82.68.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 6th. Investors of record on Tuesday, August 21st were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Monday, August 20th. Alaska Air Group’s dividend payout ratio (DPR) is presently 19.28%.

In related news, EVP Shane R. Tackett sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $66.81, for a total transaction of $200,430.00. Following the sale, the executive vice president now owns 8,238 shares of the company’s stock, valued at approximately $550,380.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ALK. Diamond Hill Capital Management Inc. increased its holdings in Alaska Air Group by 248.8% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 960,848 shares of the transportation company’s stock worth $58,026,000 after acquiring an additional 685,374 shares during the period. Strs Ohio bought a new position in shares of Alaska Air Group in the 2nd quarter worth $36,234,000. Point72 Asset Management L.P. bought a new position in shares of Alaska Air Group in the 2nd quarter worth $29,884,000. Thompson Siegel & Walmsley LLC increased its holdings in shares of Alaska Air Group by 27.2% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,719,802 shares of the transportation company’s stock worth $103,859,000 after buying an additional 367,895 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Alaska Air Group by 102.0% in the 1st quarter. JPMorgan Chase & Co. now owns 697,647 shares of the transportation company’s stock worth $43,226,000 after buying an additional 352,335 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

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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