Those that do expect that the company will post $6.8 for the current year. In a research note released to the investors, Evercore ISI downgrades its rating on Alaska Air Group, Inc.
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In other Alaska Air Group news, CEO Bradley D. Tilden sold 25,800 shares of the stock in a transaction dated Tuesday, August 18th. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Alaska’s net profit was equivalent to $2.14 per share, up 38 percent from net income a year earlier of $198 million, or $1.45 per share. This helps identify the daily crowd attitude of a stock based on news reports and articles and whether or not the news might positively or negatively impact the shares, based on a -1 to 1 scale.
Shares of Alaska Air Group (NYSE:ALK) traded up 4.2177% during midday trading on Tuesday, reaching $79.1742.
Alaska Air Group (NYSE:ALK) had its price target hoisted by equities research analysts at Stifel Nicolaus from $80.00 to $85.00 in a report issued on Friday, Marketbeat reports. Imperial Capital reissued a “buy” rating on shares of Alaska Air Group in a report on Saturday, July 25th. Alaska Air Group now has a consensus rating of “Buy” and an average target price of $83.38.
Alaska Air Group, under intense competitive pressure from Delta but buoyed by continued low fuel prices, on Thursday reported a record quarterly profit of $274 million. The disclosure for this sale can be found here. On September 10, 2015, the shares registered one year high at $82.78 and the one year low was seen on October 22, 2014. The company reported $2.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.10 by $0.06. In the near-term Wall Street has a consensus price target of $86.076 for the next 12-months. The $87.33 average target is 11.89% above today’s ($78.05) stock price.
MANAGEMENT DISCUSSION SECTIONOperator: At this time I would like to welcome everyone to the Alaska Air Group third quarter 2015 earnings conference call.
The company said revenue for the quarter rose 3.4% to $1.52 billion.
James Investment Research Inc is the most bullish institutional investor on Alaska Air Group Inc, with ownership of 1.77 million shares as of Q2 2015 for 2.66% of the fund’s portfolio.
“Our $442 million pre-tax profit for the quarter equates to a pre-tax margin of 29.2%, which is 740 basis points higher than a year ago”, Tilden told analysts and reporters. (Horizon). The Organization runs Alaska Airlines and Horizon Air airlines, which together with its associate regional airlines serve about 100 cities via a network in Hawaii, the Lower 48, Alaska, Canada and Mexico. Alaska Air Group’s regional service-included in the consolidated figures-includes capacity purchased by Alaska from regional carriers Horizon Air, SkyWest and PenAir.
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Check back later for our full write up on this Alaska Air Group earnings report later! The Firm operates in three divisions: Alaska Mainline, Alaska Regional and Horizon. Alaska intends to have 69 of its aircraft-46% of its passenger fleet-outfitted with Space Bins by 2017. Air Group has two operating airlines: Alaska Airlines and Horizon Air. Horizon is a regional airline, operates jet and turboprop aircraft, and its average passenger trip is 231 miles.
