As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook. Alaska has historically been one of the better investments in the notoriously difficult airline industry in part because of the company’s conservative approach and focus on its customers. Tuesday is a tough day for long-term holders, but Alaska remains well positioned to outperform its peers over the long term.
Elsewhere, the Dow saw an upswing of 0.12%, while the tech-heavy Nasdaq depreciated by 1.23%. Click the link below and we’ll send you MarketBeat’s list of the 10 best stocks to own in 2023 and why they should be in your portfolio. Sign-up to receive the latest news and ratings for Alkane Resources and its competitors with MarketBeat’s FREE daily newsletter. A quarterly cash dividend of $0.38 per share of Class A Common Stock. The quarterly cash dividend was payable on March 5, 2020 to stockholders of record on February 14, 2020.
Key Data
LSTR delivered a trailing four-quarter earnings surprise of 1.71%, on average. Our proven model predicts an earnings beat for Alaska Air this time around. The combination of a positive Earnings ESP exness company review and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
The airline’s stock has dropped by 14.53% in the past month, falling short of the Transportation sector’s loss of 3.22% and the S&P 500’s loss of 2.4%. Despite rising inflation, airfares were down 19% year over year in June due to lower fuel costs. That’s allowing lower-cost competitors to be more flexible on price, which is eating into what others can charge. “People are hungry to travel and our frontline employees are delivering the safe, reliable and caring experience that people expect when they fly with us,” CEO Ben Minicucci said in a statement. “I’m so proud of our team for knocking it out of the park and delivering industry-leading operational and financial outcomes.” Delta shares rose after CEO Ed Bastian acknowledged the company may have gone too far with changes to its loyalty program, and promised modifications.
- Alaska Air Gr is in the Industrials sector and Airlines industry.
- Alongside, our most recent consensus estimate is anticipating revenue of $2.88 billion, indicating a 1.7% upward movement from the same quarter last year.
- The newly created shares were payable to shareholders after the market closes on Wednesday, July 9th 2014.
- The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank.
Outside of a handful of highflying technology stocks, U.S. stocks have been practically flat in 2023, but on Wall Street, some analysts remain as bullish as ever. Valuation is also important, so investors should note that Alaska Air Group has a Forward P/E ratio of 6.36 right now. This signifies a discount in comparison to the average Forward P/E of 7.16 for its industry.
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It has been a good year for airlines, with post-pandemic demand continuing to fill planes through the busy summer months. But historically this has been a cyclical industry, and investors are keeping a watchful eye on future demand to gauge whether rising inflation will cut into demand from here. The airline industry is grappling with soaring fuel costs, but Delta, United, and Panama’s Copa are getting support at or above their 200-day moving averages. The technique has proven to be very useful for finding positive surprises. MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten.
What is the target price for Alaska Air Gr (ALK) stock?
Alaska Air Gr is in the Industrials sector and Airlines industry. Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services. Provides a general description of the business conducted by this company. A thumbnail of a daily chart is provided, with a link to open and customize a full-sized chart. What you need to know… The S&P 500 Index ($SPX ) (SPY ) Wednesday closed up +0.12%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed down -0.20%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed… Despite Alaska Air’s potential uplift from the robust jobs report, options traders don’t appear to be buying ALK stock.
The Zacks Consensus Estimate for Alaska Air’s third-quarter 2023 revenues is pegged at $2.88 billion, indicating 1.7% growth year over year. The top line is likely to have been aided bycontinued recovery in air-travel demand. The company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the preceding four quarters and missing once, the average miss teletrade broker overview being 2.72%. The Zacks Consensus Estimate for third-quarter earnings has been revised 33.3% upward over the past 90 days. Alaska Air, which belongs to the Zacks Transportation – Airline industry, posted revenues of $2.84 billion for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 2.07%. The company has topped consensus revenue estimates two times over the last four quarters.
The newly created shares were payable to shareholders after the market closes on Wednesday, July 9th 2014. An investor that had 100 shares of stock prior to the split would have 200 shares after the split. Due to high costs, the third-quarter adjusted pre-tax margin is now expected to be in the 10-12% range (earlier guidance was 14-16%). Our experts picked 7 Zacks Rank xm group #1 Strong Buy stocks with the best chance to skyrocket within the next days. JetBlue Airways’ revenues are expected to be $2.61 billion, up 6.8% from the year-ago quarter. The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.
KEX has an expected earnings growth rate of 56.92% for third-quarter 2023. KEX delivered a trailing four-quarter earnings surprise of 8.03%, on average. On the back of upbeat air-travel demand and favorable pricing, the company expects to boost its fleet and workforce to meet the anticipated high demand. ALK expects third-quarter 2023 total revenues to increase in the 1-2% range from third-quarter 2022 actuals (the earlier projection was for a 0-3% increase).
Why Alaska Air Stock Is Losing Altitude Today
The Zacks Consensus Estimate for KEX’s third-quarter 2023 revenues is pegged at $794.60 million, indicating growth of 6.54% year over year. Kirby Corporation (KEX Quick QuoteKEX – Free Report) has an Earnings ESP of +6.52% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here. Recent stocks from this report have soared up to +178.7% in 3 months – this month’s picks could be even better. Another stock from the same industry, JetBlue Airways (JBLU Quick QuoteJBLU – Free Report) , has yet to report results for the quarter ended June 2023. 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.
Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment returns. Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer. The scores are based on the trading styles of Value, Growth, and Momentum. There’s also a VGM Score (‘V’ for Value, ‘G’ for Growth and ‘M’ for Momentum), which combines the weighted average of the individual style scores into one score. Alaska Air Group’s stock split on the morning of Thursday, July 10th 2014.
Markets
The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank. As an investor, you want to buy stocks with the highest probability of success. That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style.
Zacks Earnings ESP (Expected Surprise Prediction) looks to find companies that have recently seen positive earnings estimate revision activity. The idea is that more recent information is, generally speaking, more accurate and can be a better predictor of the future, which can give investors an advantage in earnings season. © 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed.
The consensus EPS estimate for the quarter has been revised 2.5% higher over the last 30 days to the current level. 10 brokers have issued 1 year price objectives for Alaska Air Group’s shares. On average, they predict the company’s stock price to reach $60.63 in the next twelve months.
Alaska Air Group, Inc. (ALK Quick QuoteALK – Free Report) is scheduled to report third-quarter 2023 results on Oct 19, before market open. The most oversold stocks in the industrials sector presents an opportunity to buy into undervalued companies. The Transportation – Airline industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 232, finds itself in the bottom 8% echelons of all 250+ industries.
These returns cover a period from January 1, 1988 through September 4, 2023. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return.