Alaska Air Group (ALK) ended the recent trading session at $39.89, demonstrating a +1.79% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.58%. Meanwhile, the Dow gained 0.49%, and the Nasdaq, a tech-heavy index, added 0.45%.
Shares of the airline have depreciated by 6.78% over the course of the past month, underperforming the Transportation sector's loss of 4.02%, and the S&P 500's gain of 0.84%.
The upcoming earnings release of Alaska Air Group will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0.44, reflecting a 58.1% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $4.31 billion, up 14.46% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$2.05 per share and revenue of $15.81 billion, indicating changes of -184.02% and +11.03%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 17.42% decrease. As of now, Alaska Air Group holds 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 233, positioning it in the bottom 6% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during 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).