In the latest market close, Alaska Air Group (ALK) reached $66.66, with a -1.16% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.83%. Meanwhile, the Dow experienced a rise of 1.65%, and the technology-dominated Nasdaq saw an increase of 2.45%.
The airline's stock has climbed by 6.71% in the past month, exceeding the Transportation sector's loss of 2.55% and the S&P 500's loss of 3.31%.
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 January 23, 2025. The company is forecasted to report an EPS of $0.47, showcasing a 56.67% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $3.51 billion, indicating a 37.55% upward movement from the same quarter last year.
Investors might also notice recent changes to analyst estimates for Alaska Air Group. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.89% higher. Currently, Alaska Air Group is carrying a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Alaska Air Group is presently trading at a Forward P/E ratio of 11.37. Its industry sports an average Forward P/E of 9.2, so one might conclude that Alaska Air Group is trading at a premium comparatively.
We can also see that ALK currently has a PEG ratio of 0.67. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Transportation - Airline industry currently had an average PEG ratio of 0.73 as of yesterday's close.
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 24, putting it in the top 10% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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