Alaska Air Group, Inc. to Post FY2017 Earnings of $6.66 Per Share, Imperial Capital Forecasts (ALK)

Alaska Air Group, Inc. (NYSE:ALK) – Research analysts at Imperial Capital lowered their FY2017 earnings estimates for shares of Alaska Air Group in a report released on Wednesday. Imperial Capital analyst M. Derchin now forecasts that the transportation company will post earnings per share of $6.66 for the year, down from their prior estimate of $6.72. Imperial Capital currently has a “line” rating and a $70.00 target price on the stock. Imperial Capital also issued estimates for Alaska Air Group’s Q4 2017 earnings at $0.86 EPS.

Alaska Air Group (NYSE:ALK) last released its earnings results on Wednesday, October 25th. The transportation company reported $2.24 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.02). Alaska Air Group had a return on equity of 28.74% and a net margin of 10.34%. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the firm earned $2.20 earnings per share. The firm’s revenue for the quarter was up 35.4% compared to the same quarter last year.

A number of other research firms also recently commented on ALK. Bank of America dropped their target price on shares of Alaska Air Group from $100.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, October 13th. Macquarie began coverage on shares of Alaska Air Group in a report on Monday, September 25th. They issued an “outperform” rating and a $94.00 target price on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $125.00 target price on shares of Alaska Air Group in a report on Saturday, September 23rd. Zacks Investment Research upgraded shares of Alaska Air Group from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. Finally, Standpoint Research began coverage on shares of Alaska Air Group in a report on Monday, December 18th. They issued a “buy” rating and a $90.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $88.89.

Shares of Alaska Air Group (ALK) opened at $70.82 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 0.68. Alaska Air Group has a fifty-two week low of $61.10 and a fifty-two week high of $101.43. The company has a market cap of $8,710.00, a P/E ratio of 11.35 and a beta of 1.03.

In other news, EVP Andrew R. Harrison sold 540 shares of Alaska Air Group stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $65.53, for a total value of $35,386.20. Following the transaction, the executive vice president now directly owns 20,788 shares of the company’s stock, valued at $1,362,237.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David L. Campbell sold 4,934 shares of Alaska Air Group stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $68.00, for a total transaction of $335,512.00. Following the completion of the transaction, the chief executive officer now directly owns 9,648 shares in the company, valued at $656,064. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. grew its position in Alaska Air Group by 2.2% during the second quarter. Alliancebernstein L.P. now owns 226,779 shares of the transportation company’s stock valued at $20,356,000 after purchasing an additional 4,917 shares in the last quarter. Norinchukin Bank The grew its position in Alaska Air Group by 6.9% during the second quarter. Norinchukin Bank The now owns 8,577 shares of the transportation company’s stock valued at $770,000 after purchasing an additional 554 shares in the last quarter. Nationwide Fund Advisors grew its position in Alaska Air Group by 7.5% during the second quarter. Nationwide Fund Advisors now owns 152,635 shares of the transportation company’s stock valued at $13,701,000 after purchasing an additional 10,600 shares in the last quarter. BT Investment Management Ltd purchased a new position in Alaska Air Group during the second quarter valued at approximately $632,000. Finally, Profund Advisors LLC grew its position in Alaska Air Group by 25.3% during the second quarter. Profund Advisors LLC now owns 4,424 shares of the transportation company’s stock valued at $397,000 after purchasing an additional 894 shares in the last quarter. 88.61% of the stock is currently owned by institutional investors and hedge funds.

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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.

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

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