Alaska Air Group (ALK) closed at $38.70 in the latest trading session, marking a -3.08% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.25%. Meanwhile, the Dow lost 0.86%, and the Nasdaq, a tech-heavy index, added 0.24%.
Shares of the airline witnessed a loss of 1.87% over the previous month, beating the performance of the Transportation sector with its loss of 6.09%, and underperforming the S&P 500's loss of 0.42%.
The investment community will be paying close attention to the earnings performance of Alaska Air Group in its upcoming release. The company is predicted to post an EPS of $0.46, indicating a 56.19% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $4.31 billion, reflecting a 14.53% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.88 per share and revenue of $15.83 billion, indicating changes of -177.05% and +11.2%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Alaska Air Group should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 6.45% decrease. Currently, Alaska Air Group is carrying a Zacks Rank of #3 (Hold).
The Transportation - Airline industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 233, finds itself in the bottom 6% echelons of all 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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).