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Alaska Air Gr Stock NYSE:ALK, Quotes and News Summary

The investment community will be closely monitoring the performance of Alaska Air Group in its forthcoming earnings report. The company is scheduled to release its earnings on October 19, 2023. The company is forecasted to report an EPS of $1.88, showcasing a 25.69% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $2.88 billion, indicating a 1.7% upward movement from the same quarter last year.

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  • Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes. Data may be intentionally delayed pursuant to supplier requirements. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research how to become a cloud engineer with no experience shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. The most recent trading session ended with Alaska Air Group (ALK) standing at $33.07, reflecting a -1.69% shift from the previouse trading day’s closing. The stock’s performance was behind the S&P 500’s daily loss of 0.5%.

At present, Alaska Air Group boasts a Zacks Rank of #3 (Hold). Investors should also pay attention to any latest changes in analyst estimates for Alaska Air Group. These recent revisions tend to reflect the evolving nature of short-term business trends.

What sector and industry does Alaska Air Gr (ALK) operate in?

This suggests a possible upside of 83.3% from the stock’s current price. View analysts price targets for ALK or view top-rated stocks among Wall Street analysts. Alaska, like many of its peers that have already reported second-quarter results, beat expectations in the April-to-June period.

  • Alaska, like many of its peers that have already reported second-quarter results, beat expectations in the April-to-June period.
  • Alkane Resources Limited was incorporated in 1969 and is headquartered in West Perth, Australia.
  • Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well.
  • The consensus among Wall Street equities research analysts is that investors should « buy » ALK shares.
  • Since 1988 it has more than doubled the S&P 500 with an average gain of +24.17% per year.
  • This suggests a possible upside of 83.3% from the stock’s current price.

According to 10 analysts, the average rating for ALK stock is « Strong Buy. » The 12-month stock price forecast is $61.47, which is an increase of 85.88% from the latest price. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. However, expenses related to fuel prices are likely to have weighed on ALK’s bottom-line growth.

Alaska Air Group (ALK) Q2 Earnings and Revenues Beat Estimates

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Most Airline Stocks Slump amid Lower Air Fares

The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. It allows the user to better focus on the stocks ifc markets review that are the best fit for his or her personal trading style. Upgrade to MarketBeat All Access to add more stocks to your watchlist.

In terms of the Zacks Industry Rank, Transportation – Airline is currently in the top 16% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Alaska Air Group (ALK Quick QuoteALK – Free Report) came out with quarterly earnings of $3 per share, beating the Zacks Consensus Estimate of $2.70 per share. Southwest (LUV), United (UAL), and Alaska Air (ALK) all raised jet fuel cost guidance, warning of higher prices to come. Yahoo Finance Live’s Brad Smith and Julie Hyman break down the report and the o… The Seattle-based airline announced Thursday a partnership with UP.Labs to launch Airline Venture Lab, a new collaboration to create aviation-focu…

As of September 30th, there was short interest totaling 4,320,000 shares, an increase of 14.9% from the September 15th total of 3,760,000 shares. Based on an average daily volume of 1,930,000 shares, the days-to-cover ratio is currently 2.2 days. The Zacks Consensus Estimate for ODFL’s third-quarter 2023 earnings has been revised upward by 1.4% in the past 90 days. ODFL delivered a trailing four-quarter earnings surprise of 3.86%, on average.

About ALK

The airline industry is well-positioned for solid growth due to the resurgence of travel demand. To that end, it could be wise to add fundamentally strong airline stocks, Allegiant Travel (ALGT), Alaska… Alaska Air Group updated its third quarter 2023 earnings guidance on Wednesday, September, 13th. The company provided earnings per share (EPS) guidance of for the period.

391 employees have rated Alaska Air Group Chief Executive Officer Bradley D. Tilden on Glassdoor.com. Bradley D. Tilden has an approval rating of 85% among the company’s employees. Sign-up to receive the latest news and ratings for Alaska Air Group and its liteforex review competitors with MarketBeat’s FREE daily newsletter. Visit Performance Disclosure for information about the performance numbers displayed above. In 2022, ALK’s revenue was $9.65 billion, an increase of 56.19% compared to the previous year’s $6.18 billion.

The company issued revenue guidance of $2.86 billion-$2.88 billion, compared to the consensus revenue estimate of $2.88 billion. The top line jumped 7% year over year, with passenger revenues accounting for 91.5% of the top line and increasing 7% due to continued recovery in air-travel demand. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $2.85 on $2.87 billion in revenues for the coming quarter and $6.56 on $10.47 billion in revenues for the current fiscal year. Alaska Air Group saw a increase in short interest in the month of September.

Alaska Air now expects the fuel cost per gallon in the $3.15-$3.25 band (the earlier guidance was in the $2.7-$2.8 range). This quarterly report represents an earnings surprise of 11.11%. A quarter ago, it was expected that this airline would post a loss of $0.48 per share when it actually produced a loss of $0.62, delivering a surprise of -29.17%.

Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. This airline is expected to post quarterly earnings of $0.40 per share in its upcoming report, which represents a year-over-year change of +185.1%.

The industry with the best average Zacks Rank would be considered the top industry (1 out of 265), which would place it in the top 1% of Zacks Ranked Industries. The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%. An industry with a larger percentage of Zacks Rank #1’s and #2’s will have a better average Zacks Rank than one with a larger percentage of Zacks Rank #4’s and #5’s. Plus, ALK info will be updated daily in your free Zacks.com Portfolio Tracker.

Alaska reported adjusted earnings of $3 per share on revenue of $2.84 billion, topping the consensus estimate of $2.70 per share on $2.77 billion in sales. 10 Wall Street equities research analysts have issued « buy, » « hold, » and « sell » ratings for Alaska Air Group in the last twelve months. There are currently 1 hold rating, 8 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should « buy » ALK shares.

Jamie Baker, JPMorgan senior airline analyst, joins ‘The Exchange’ to discuss turbulence in the airline industry and his expectations for where prices may be headed from here. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company’s anticipated earnings growth rate. ALK’s industry had an average PEG ratio of 0.32 as of yesterday’s close. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 14.44% decrease.

Alaska Air Gr Stock NYSE:ALK, Quotes and News Summary