Alaska Air Group (NYSE:ALK) released its quarterly earnings results on Wednesday. The transportation company reported ($0.30) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.44) by $0.14, MarketWatch Earnings reports. Alaska Air Group had a negative net margin of 44.22% and a negative return on equity of 48.26%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the company posted ($3.54) earnings per share. Alaska Air Group’s revenue was up 262.7% compared to the same quarter last year.
Alaska Air Group stock opened at $57.98 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.81. Alaska Air Group has a 52-week low of $33.22 and a 52-week high of $74.25. The stock’s 50 day moving average price is $63.54. The company has a market cap of $7.22 billion, a price-to-earnings ratio of -5.95 and a beta of 1.79.
ALK has been the topic of several research reports. Wolfe Research upgraded shares of Alaska Air Group from a “peer perform” rating to an “outperform” rating in a research note on Friday, June 18th. JPMorgan Chase & Co. increased their price objective on shares of Alaska Air Group from $65.00 to $104.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 14th. Raymond James reduced their price objective on shares of Alaska Air Group from $85.00 to $78.00 and set a “strong-buy” rating on the stock in a research note on Tuesday. Morgan Stanley dropped their target price on shares of Alaska Air Group from $90.00 to $89.00 and set an “overweight” rating for the company in a report on Tuesday, June 1st. Finally, MKM Partners initiated coverage on shares of Alaska Air Group in a report on Thursday, June 10th. They issued a “buy” rating and a $81.00 target price for the company. One investment analyst has rated the stock with a sell rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $73.92.
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 flies to approximately 115 destinations throughout the United States and North America. The company was founded in 1932 and is based in Seattle, Washington.
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