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Alaska Air Group (ALK) Declines More Than Market: Some Information for Investors
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The most recent trading session ended with Alaska Air Group (ALK - Free Report) standing at $33.07, reflecting a -1.69% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily loss of 0.5%. Elsewhere, the Dow saw an upswing of 0.12%, while the tech-heavy Nasdaq depreciated by 1.23%.
The airline's stock has dropped by 14.53% in the past month, falling short of the Transportation sector's loss of 3.22% and the S&P 500's loss of 2.4%.
The investment community will be closely monitoring the performance of Alaska Air Group in its forthcoming earnings report. The company is scheduled to release its earnings on October 19, 2023. The company is forecasted to report an EPS of $1.88, showcasing a 25.69% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $2.88 billion, indicating a 1.7% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.29 per share and revenue of $10.55 billion, which would represent changes of +21.61% and +9.37%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Alaska Air Group. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 14.44% decrease. At present, Alaska Air Group boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Alaska Air Group has a Forward P/E ratio of 6.36 right now. This signifies a discount in comparison to the average Forward P/E of 7.16 for its industry.
Meanwhile, ALK's PEG ratio is currently 0.58. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. ALK's industry had an average PEG ratio of 0.32 as of yesterday's close.
The Transportation - Airline industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 232, finds itself in the bottom 8% echelons 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Alaska Air Group (ALK) Declines More Than Market: Some Information for Investors
The most recent trading session ended with Alaska Air Group (ALK - Free Report) standing at $33.07, reflecting a -1.69% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily loss of 0.5%. Elsewhere, the Dow saw an upswing of 0.12%, while the tech-heavy Nasdaq depreciated by 1.23%.
The airline's stock has dropped by 14.53% in the past month, falling short of the Transportation sector's loss of 3.22% and the S&P 500's loss of 2.4%.
The investment community will be closely monitoring the performance of Alaska Air Group in its forthcoming earnings report. The company is scheduled to release its earnings on October 19, 2023. The company is forecasted to report an EPS of $1.88, showcasing a 25.69% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $2.88 billion, indicating a 1.7% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.29 per share and revenue of $10.55 billion, which would represent changes of +21.61% and +9.37%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Alaska Air Group. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 14.44% decrease. At present, Alaska Air Group boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Alaska Air Group has a Forward P/E ratio of 6.36 right now. This signifies a discount in comparison to the average Forward P/E of 7.16 for its industry.
Meanwhile, ALK's PEG ratio is currently 0.58. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. ALK's industry had an average PEG ratio of 0.32 as of yesterday's close.
The Transportation - Airline industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 232, finds itself in the bottom 8% echelons 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.