Equities analysts expect Alaska Air Group, Inc. (NYSE:ALK) to announce sales of $2.20 billion for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Alaska Air Group’s earnings, with the lowest sales estimate coming in at $2.19 billion and the highest estimate coming in at $2.22 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 business is expected to report 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 fiscal year, with estimates ranging from $8.22 billion to $8.28 billion. For the next fiscal year, analysts expect that the company will post 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 sell-side research firms that cover 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.03. Alaska Air Group had a net margin of 10.28% and a return on equity of 16.99%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the company earned $2.48 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis.

Several equities research analysts recently issued reports on the stock. Imperial Capital decreased their target price on shares of Alaska Air Group from $65.00 to $62.00 and set an “inline” rating on the stock in a research report on Wednesday, June 20th. TheStreet upgraded shares of Alaska Air Group from a “c+” rating to a “b-” rating in a report on Wednesday. Citigroup cut their price target on shares of Alaska Air Group from $69.00 to $68.00 and set a “neutral” rating on the stock in a report on Monday, June 18th. Macquarie lowered shares of Alaska Air Group from an “outperform” rating to a “neutral” rating in a report on Monday, July 30th. Finally, ValuEngine upgraded shares of Alaska Air Group from a “sell” rating to a “hold” rating in a report on Monday, July 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $78.77.

In related news, EVP Shane R. Tackett sold 3,000 shares of the firm’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 value of $200,430.00. Following the transaction, the executive vice president now owns 8,238 shares in the company, valued at $550,380.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.57% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN raised its position in shares of Alaska Air Group by 6.1% in the first quarter. Wells Fargo & Company MN now owns 529,333 shares of the transportation company’s stock worth $32,797,000 after buying an additional 30,506 shares in the last quarter. Mackay Shields LLC purchased a new stake in shares of Alaska Air Group in the first quarter worth $1,283,000. Eaton Vance Management raised its position in shares of Alaska Air Group by 74.3% in the first quarter. Eaton Vance Management now owns 20,484 shares of the transportation company’s stock worth $1,269,000 after buying an additional 8,732 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Alaska Air Group by 6.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 666,536 shares of the transportation company’s stock worth $41,299,000 after buying an additional 38,809 shares in the last quarter. Finally, ING Groep NV purchased a new stake in shares of Alaska Air Group in the first quarter worth $205,000. Institutional investors own 88.72% of the company’s stock.

Shares of ALK traded up $0.33 during mid-day trading on Wednesday, hitting $70.08. The company had a trading volume of 1,735,434 shares, compared to its average volume of 1,149,856. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.71 and a current ratio of 0.73. Alaska Air Group has a 1-year low of $57.53 and a 1-year high of $82.68. The stock has a market capitalization of $8.59 billion, a PE ratio of 10.55, a P/E/G ratio of 2.41 and a beta of 0.57.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 6th. Investors of record on Tuesday, August 21st were issued a $0.32 dividend. The ex-dividend date of this dividend was Monday, August 20th. This represents a $1.28 annualized dividend and a yield of 1.83%. Alaska Air Group’s payout ratio is 19.28%.

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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