Alaska Air Group (ALK) ended the recent trading session at $40.74, demonstrating a -3.09% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.58%. Meanwhile, the Dow lost 1.18%, and the Nasdaq, a tech-heavy index, lost 0.32%.
The stock of airline has fallen by 11.05% in the past month, lagging the Transportation sector's loss of 3.23% and the S&P 500's loss of 0.36%.
The investment community will be closely monitoring the performance of Alaska Air Group in its forthcoming earnings report. On that day, Alaska Air Group is projected to report earnings of $0.48 per share, which would represent a year-over-year decline of 54.29%. Meanwhile, our latest consensus estimate is calling for revenue of $4.32 billion, up 14.65% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$1.74 per share and a revenue of $15.85 billion, demonstrating changes of -171.31% and +11.28%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Alaska Air Group. Such recent modifications usually signify the changing landscape of near-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 139.22% lower. Alaska Air Group currently has 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 209, which puts it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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