Alaska Air Group Inc. (NYSE:ALK) – Stock analysts at Imperial Capital issued their Q3 2016 earnings estimates for shares of Alaska Air Group in a research note issued on Friday. Imperial Capital analyst M. Derchin expects that the brokerage will earn $2.00 per share for the quarter. Imperial Capital has a “In-Line” rating and a $74.00 price objective on the stock. Imperial Capital also issued estimates for Alaska Air Group’s Q4 2016 earnings at $1.32 EPS, FY2016 earnings at $6.89 EPS, Q1 2017 earnings at $1.12 EPS, Q2 2017 earnings at $2.01 EPS, Q3 2017 earnings at $1.99 EPS, Q4 2017 earnings at $1.28 EPS, FY2017 earnings at $6.40 EPS and FY2019 earnings at $4.77 EPS.
Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, July 21st. The company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.03. Alaska Air Group had a return on equity of 36.88% and a net margin of 15.86%. The business earned $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company posted $1.76 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year.
Other research analysts have also recently issued research reports about the company. Raymond James Financial Inc. cut Alaska Air Group from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $105.00 to $88.00 in a research note on Tuesday, June 14th. Cowen and Company reduced their price objective on Alaska Air Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 14th. Zacks Investment Research cut Alaska Air Group from a “hold” rating to a “sell” rating in a research note on Wednesday, June 22nd. Credit Suisse Group AG raised Alaska Air Group from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $70.00 to $85.00 in a research note on Monday, July 25th. Finally, JPMorgan Chase & Co. raised Alaska Air Group from a “neutral” rating to an “overweight” rating and set a $78.50 price objective on the stock in a research note on Wednesday, July 27th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $86.48.
Shares of Alaska Air Group (NYSE:ALK) opened at 65.77 on Monday. Alaska Air Group has a 12 month low of $54.51 and a 12 month high of $87.17. The company has a market capitalization of $8.10 billion, a price-to-earnings ratio of 9.11 and a beta of 0.85. The company has a 50-day moving average price of $67.15 and a 200-day moving average price of $69.07.
Several hedge funds have recently bought and sold shares of ALK. Acrospire Investment Management LLC purchased a new stake in Alaska Air Group during the first quarter worth $107,000. Tower Research Capital LLC TRC raised its stake in shares of Alaska Air Group by 146.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,077 shares of the company’s stock valued at $121,000 after buying an additional 1,233 shares during the period. Pacer Advisors Inc. raised its stake in shares of Alaska Air Group by 9.1% in the second quarter. Pacer Advisors Inc. now owns 2,169 shares of the company’s stock valued at $126,000 after buying an additional 181 shares during the period. Point72 Asia Hong Kong Ltd bought a new stake in shares of Alaska Air Group during the second quarter valued at approximately $175,000. Finally, IFP Advisors Inc raised its stake in shares of Alaska Air Group by 21.9% in the first quarter. IFP Advisors Inc now owns 2,243 shares of the company’s stock valued at $184,000 after buying an additional 403 shares during the period. Institutional investors own 88.73% of the company’s stock.
In other news, Chairman Bradley D. Tilden sold 2,000 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $66.72, for a total transaction of $133,440.00. Following the completion of the sale, the chairman now directly owns 23,900 shares in the company, valued at $1,594,608. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Brandon Pedersen sold 9,943 shares of the stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $70.52, for a total transaction of $701,180.36. Following the sale, the vice president now owns 13,360 shares of the company’s stock, valued at $942,147.20. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were issued a dividend of $0.275 per share. The ex-dividend date was Tuesday, August 16th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.67%. Alaska Air Group’s dividend payout ratio is currently 15.26%.
About Alaska Air Group
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska) and Horizon Air (Horizon). The Company operates through three segments: Alaska Mainline, Alaska Regional and Horizon. Its Alaska Mainline segment operates the Boeing 737 part of Alaska’s business. It offers north/south service within the western United States, Canada, Mexico and Costa Rica, as well as passenger and dedicated cargo services to and within the state of Alaska.
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