In the latest market close, Alaska Air Group (ALK - Free Report) reached $40.09, with a -0.27% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 1.47%. Meanwhile, the Dow lost 1.27%, and the Nasdaq, a tech-heavy index, lost 1.5%.
Prior to today's trading, shares of the airline had gained 9.66% over the past month. This has outpaced the Transportation sector's gain of 9.36% and the S&P 500's gain of 5.77% in that time.
Investors will be eagerly watching for the performance of Alaska Air Group in its upcoming earnings disclosure. In that report, analysts expect Alaska Air Group to post earnings of $0.21 per share. This would mark a year-over-year decline of 77.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.55 billion, up 2.73% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.44 per share and revenue of $10.42 billion, indicating changes of +2.07% and +8.07%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Alaska Air Group. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.07% upward. Alaska Air Group currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Alaska Air Group is currently being traded at a Forward P/E ratio of 9.06. This indicates a premium in contrast to its industry's Forward P/E of 7.73.
We can also see that ALK currently has a PEG ratio of 0.88. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Transportation - Airline stocks are, on average, holding a PEG ratio of 0.35 based on yesterday's closing prices.
The Transportation - Airline industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 172, placing it within the bottom 32% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Zacks Naming Top 10 Stocks for 2024
Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
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In the latest market close, Alaska Air Group (ALK - Free Report) reached $40.09, with a -0.27% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 1.47%. Meanwhile, the Dow lost 1.27%, and the Nasdaq, a tech-heavy index, lost 1.5%.
Prior to today's trading, shares of the airline had gained 9.66% over the past month. This has outpaced the Transportation sector's gain of 9.36% and the S&P 500's gain of 5.77% in that time.
Investors will be eagerly watching for the performance of Alaska Air Group in its upcoming earnings disclosure. In that report, analysts expect Alaska Air Group to post earnings of $0.21 per share. This would mark a year-over-year decline of 77.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.55 billion, up 2.73% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.44 per share and revenue of $10.42 billion, indicating changes of +2.07% and +8.07%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Alaska Air Group. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.07% upward. Alaska Air Group currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Alaska Air Group is currently being traded at a Forward P/E ratio of 9.06. This indicates a premium in contrast to its industry's Forward P/E of 7.73.
We can also see that ALK currently has a PEG ratio of 0.88. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Transportation - Airline stocks are, on average, holding a PEG ratio of 0.35 based on yesterday's closing prices.
The Transportation - Airline industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 172, placing it within the bottom 32% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Zacks Naming Top 10 Stocks for 2024
Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
Be First to New Top 10 Stocks >>
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