Zacks: Brokerages Anticipate Alaska Air Group, Inc. (ALK) Will Announce Quarterly Sales of $1.81 Billion

Wall Street analysts expect that Alaska Air Group, Inc. (NYSE:ALK) will post sales of $1.81 billion for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Alaska Air Group’s earnings, with the highest sales estimate coming in at $1.81 billion and the lowest estimate coming in at $1.80 billion. Alaska Air Group posted sales of $1.75 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.4%. The company is expected to issue its next earnings report on Wednesday, April 25th.

According to Zacks, analysts expect that Alaska Air Group will report full-year sales of $1.81 billion for the current fiscal year, with estimates ranging from $8.32 billion to $8.57 billion. For the next year, analysts anticipate that the business will post sales of $8.99 billion per share, with estimates ranging from $8.78 billion to $9.14 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Alaska Air Group.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, January 25th. The transportation company reported $0.83 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.83. Alaska Air Group had a return on equity of 24.39% and a net margin of 12.96%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the company earned $1.56 earnings per share. Alaska Air Group’s quarterly revenue was up 28.7% compared to the same quarter last year.

Several brokerages recently issued reports on ALK. Morgan Stanley set a $78.00 price objective on Alaska Air Group and gave the stock a “buy” rating in a report on Friday, February 23rd. Buckingham Research cut their price objective on Alaska Air Group from $90.00 to $88.00 and set a “buy” rating for the company in a report on Friday, January 26th. Imperial Capital reiterated an “in-line” rating and set a $66.00 price objective (down from $70.00) on shares of Alaska Air Group in a report on Thursday, February 1st. Cowen reiterated an “outperform” rating and set a $84.00 price objective (down from $93.00) on shares of Alaska Air Group in a report on Friday, January 26th. Finally, Barclays lowered Alaska Air Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $90.00 to $80.00 in a report on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $87.53.

Shares of Alaska Air Group stock traded up $0.59 during trading hours on Tuesday, hitting $66.51. The company had a trading volume of 1,480,826 shares, compared to its average volume of 1,842,687. The company has a current ratio of 0.79, a quick ratio of 0.77 and a debt-to-equity ratio of 0.61. Alaska Air Group has a twelve month low of $59.25 and a twelve month high of $97.06. The stock has a market capitalization of $8,180.53, a price-to-earnings ratio of 8.03, a price-to-earnings-growth ratio of 1.02 and a beta of 0.84.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 8th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.92%. This is an increase from Alaska Air Group’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, February 16th. Alaska Air Group’s dividend payout ratio is presently 15.46%.

In other Alaska Air Group news, EVP Andrew R. Harrison sold 2,350 shares of the stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $64.88, for a total transaction of $152,468.00. Following the transaction, the executive vice president now directly owns 24,092 shares of the company’s stock, valued at $1,563,088.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher Michael Berry sold 460 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $97.00, for a total transaction of $44,620.00. Following the transaction, the vice president now directly owns 1,997 shares in the company, valued at $193,709. The disclosure for this sale can be found here. Insiders have sold 13,373 shares of company stock worth $884,697 over the last three months. Company insiders own 0.57% of the company’s stock.

Several large investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Alaska Air Group by 9.3% in the fourth quarter. BlackRock Inc. now owns 7,310,003 shares of the transportation company’s stock valued at $537,358,000 after purchasing an additional 621,021 shares during the last quarter. OppenheimerFunds Inc. grew its position in shares of Alaska Air Group by 12,449.2% in the fourth quarter. OppenheimerFunds Inc. now owns 1,560,244 shares of the transportation company’s stock valued at $114,693,000 after purchasing an additional 1,547,811 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Alaska Air Group by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 1,371,750 shares of the transportation company’s stock valued at $100,681,000 after purchasing an additional 42,290 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Alaska Air Group by 0.5% in the fourth quarter. Clearbridge Investments LLC now owns 1,313,946 shares of the transportation company’s stock valued at $96,588,000 after purchasing an additional 6,217 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Alaska Air Group by 3.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,262,058 shares of the transportation company’s stock valued at $96,254,000 after purchasing an additional 38,870 shares during the last quarter. 86.42% of the stock is currently owned by institutional investors.

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Alaska Air Group Company Profile

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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Earnings History and Estimates for Alaska Air Group (NYSE:ALK)

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