Alaska Air Group (ALK) closed at $41.33 in the latest trading session, marking a -2.34% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.33%. At the same time, the Dow lost 0.7%, and the tech-heavy Nasdaq lost 0.12%.
Prior to today's trading, shares of the airline had lost 10.81% lagged the Transportation sector's loss of 1.96% and the S&P 500's gain of 3.87%.
The investment community will be closely monitoring the performance of Alaska Air Group in its forthcoming earnings report. In that report, analysts expect Alaska Air Group to post earnings of $0.46 per share. This would mark a year-over-year decline of 56.19%. Meanwhile, the latest consensus estimate predicts the revenue to be $4.31 billion, indicating a 14.53% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.76 per share and revenue of $15.83 billion, which would represent changes of -172.13% and +11.2%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Alaska Air Group. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 142.05% lower. As of now, Alaska Air Group holds a Zacks Rank of #3 (Hold).
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 176, which puts it in the bottom 29% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Alaska Air Group, Inc. (ALK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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