Alaska Air Group (ALK) ended the recent trading session at $50.41, demonstrating a -1.33% change from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.72%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 1.12%.
Shares of the airline witnessed a gain of 19.31% over the previous month, beating the performance of the Transportation sector with its gain of 4.32%, and the S&P 500's loss of 0.9%.
Market participants will be closely following the financial results of Alaska Air Group in its upcoming release. It is anticipated that the company will report an EPS of -$0.97, marking a 154.49% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $4.1 billion, reflecting a 10.64% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.65 per share and a revenue of $15.84 billion, signifying shifts of -126.64% and +11.22%, respectively, from the last year.
Any recent changes to analyst estimates for Alaska Air Group should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 36.04% higher. Right now, Alaska Air Group possesses a Zacks Rank of #3 (Hold).
The Transportation - Airline industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 194, placing it within the bottom 22% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Alaska Air Group, Inc. (ALK): Free Stock Analysis Report
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