Alaska Air Group (NYSE:ALK) Posts Earnings Results, Misses Estimates By $0.03 EPS

Alaska Air Group (NYSE:ALK) issued its quarterly earnings data on Tuesday, October 20th. The transportation company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03), Zacks reports. Alaska Air Group had a negative net margin of 2.58% and a negative return on equity of 5.42%. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the company posted $1.05 EPS. The business’s revenue was up 14.4% on a year-over-year basis.

Alaska Air Group Stock Performance

ALK opened at $38.68 on Friday. The firm has a market capitalization of $4.31 billion, a P/E ratio of -11.02 and a beta of 1.43. The stock’s 50 day moving average price is $38.83 and its two-hundred day moving average price is $43.92. The company has a quick ratio of 0.42, a current ratio of 0.46 and a debt-to-equity ratio of 1.49. Alaska Air Group has a 12-month low of $32.33 and a 12-month high of $60.63.

Insider Buying and Selling

In other Alaska Air Group news, CEO Benito Minicucci purchased 25,000 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was bought at an average cost of $40.06 per share, for a total transaction of $1,001,500.00. Following the completion of the acquisition, the chief executive officer directly owned 256,582 shares in the company, valued at $10,278,674.92. This represents a 10.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ALK shares. Cantor Fitzgerald set a $41.00 target price on Alaska Air Group in a research report on Thursday, October 29th. Zacks Research cut shares of Alaska Air Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 21st. Weiss Ratings downgraded shares of Alaska Air Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 18th. Susquehanna lowered their target price on shares of Alaska Air Group from $50.00 to $43.00 and set a “positive” rating on the stock in a research note on Thursday, October 22nd. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $52.00 target price on shares of Alaska Air Group in a report on Thursday, October 22nd. Ten research analysts have rated the stock with a Buy rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $52.38.

About Alaska Air Group

Alaska Air Group, Inc is an airline holding company headquartered in Seattle, Washington. Its principal subsidiaries include Alaska Airlines and Hawaiian Airlines, which operate under separate brands while serving passengers throughout North America, the Pacific and other international markets.

Alaska Airlines provides scheduled passenger and air cargo services across the United States, Canada, Mexico, Costa Rica and the Bahamas, with a strong presence on the U.S. West Coast and in Alaska.