In the latest trading session, Alaska Air Group (ALK) closed at $46.59, marking a +1.35% move from the previous day. This change outpaced the S&P 500's 0.58% gain on the day. At the same time, the Dow added 0.05%, and the tech-heavy Nasdaq gained 0.91%.
Coming into today, shares of the airline had gained 20% in the past month. In that same time, the Transportation sector gained 3.65%, while the S&P 500 gained 4.96%.
Investors will be eagerly watching for the performance of Alaska Air Group in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.87, reflecting a 148.88% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $4.1 billion, showing a 10.64% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$1.04 per share and a revenue of $15.84 billion, representing changes of -142.62% and +11.22%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Alaska Air Group. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 past month, the Zacks Consensus EPS estimate has shifted 264.86% downward. Alaska Air Group currently has a Zacks Rank of #3 (Hold).
The Transportation - Airline industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 212, positioning it in the bottom 14% of all 250+ industries.
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 shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Alaska Air Group, Inc. (ALK): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).