$2.19 Billion in Sales Expected for Alaska Air Group, Inc. (ALK) This Quarter
Wall Street brokerages expect that Alaska Air Group, Inc. (NYSE:ALK) will announce $2.19 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Alaska Air Group’s earnings, with estimates ranging from $2.18 billion to $2.21 billion. Alaska Air Group reported sales of $1.57 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 39.5%. The business is scheduled to issue its next earnings results on Thursday, October 19th.
According to Zacks, analysts expect that Alaska Air Group will report full year sales of $2.19 billion for the current fiscal year, with estimates ranging from $8.04 billion to $8.14 billion. For the next financial year, analysts forecast that the firm will post sales of $8.81 billion per share, with estimates ranging from $8.62 billion to $8.90 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Alaska Air Group.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.52 by $0.01. Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter last year, the firm posted $2.12 EPS. The firm’s quarterly revenue was up 40.7% on a year-over-year basis.
A number of research analysts recently commented on ALK shares. Morgan Stanley upped their target price on Alaska Air Group from $102.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, April 28th. Cowen and Company restated a “market perform” rating and issued a $102.00 target price on shares of Alaska Air Group in a research note on Monday, April 17th. BidaskClub upgraded Alaska Air Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Zacks Investment Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a research note on Tuesday, July 4th. Finally, Bank of America Corporation increased their price objective on Alaska Air Group from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $105.41.
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Shares of Alaska Air Group (NYSE ALK) opened at 84.34 on Thursday. The firm’s 50-day moving average is $89.21 and its 200 day moving average is $90.67. Alaska Air Group has a 1-year low of $64.19 and a 1-year high of $101.43. The company has a market cap of $10.42 billion, a price-to-earnings ratio of 13.72 and a beta of 0.95.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.42%. Alaska Air Group’s dividend payout ratio (DPR) is presently 19.48%.
In other news, SVP Joseph A. Sprague sold 7,000 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $90.85, for a total value of $635,950.00. Following the completion of the sale, the senior vice president now directly owns 7,191 shares in the company, valued at $653,302.35. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Bradley D. Tilden sold 4,700 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $84.63, for a total value of $397,761.00. Following the completion of the sale, the chairman now owns 148,646 shares of the company’s stock, valued at $12,579,910.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,550 shares of company stock valued at $2,547,642. 0.57% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp purchased a new position in Alaska Air Group during the first quarter valued at about $64,763,000. BlackRock Inc. boosted its position in Alaska Air Group by 4,899.5% in the first quarter. BlackRock Inc. now owns 6,979,699 shares of the transportation company’s stock valued at $643,668,000 after buying an additional 6,840,090 shares in the last quarter. State Street Corp boosted its position in Alaska Air Group by 4.8% in the first quarter. State Street Corp now owns 4,553,574 shares of the transportation company’s stock valued at $419,926,000 after buying an additional 208,195 shares in the last quarter. Egerton Capital UK LLP purchased a new position in Alaska Air Group during the second quarter valued at about $265,002,000. Finally, FMR LLC boosted its position in Alaska Air Group by 48.3% in the first quarter. FMR LLC now owns 1,810,921 shares of the transportation company’s stock valued at $167,003,000 after buying an additional 589,937 shares in the last quarter. Institutional investors and hedge funds own 93.43% of the company’s stock.
About Alaska Air Group
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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