Earnings Preview: How will Alaska Air Group Inc. [ALK] deliver its quarterly results?

Earnings from Alaska Air Group Inc. [ALK] are scheduled on April 22, 2021, before the market opens. It is expected that the company will report weak earnings for the quarter ending Mar 2021.


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ALK Stock Earnings Outlook For The Current Quarter

The consensus estimates for the quarter suggest that the company would earn -$3.63 per share on revenue of $785.58M. Taking a look at the future, the company is projected to report revenue of $1.33B at an earnings per share of -$1.22 for the Jun 2021 quarter. The estimates represent year-over-year improvements of 40.30% in revenue and 233.10% in earnings per share for the company.

ALK Stock Earnings Forecast For The Current Year

For the full financial year, Alaska Air Group Inc. [NYSE:ALK] is forecasted to generate revenue of $5.69B. The figure is about $2.3 billion above what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be -$3.25 in 2021, which is $6.92 higher than the figure in FY20. Based on current estimates, earnings are expected to grow 68.00% this year, 238.50% next year, and -18.50% annually over the next five years. With regard to sales, forecasts suggest an incline of 67.60% in current fiscal year and 40.30% over following year.

ALK Stock Price Performance

At the close of Wednesday’s session, Alaska Air Group Inc. [NYSE:ALK] finished up 2.88% at $68.83. The stock’s highest single-day price was $68.83, and its lowest was $64.81. Its price fall -2.47% in the last five days. Since the beginning of the year, Alaska Air Group Inc.’s shares are up nearly 32.37%. However, the share price is -7.30% below its one year high. The top price reached by the shares of the company was $74.25 on 04/07/21, while the 52-week low came on 01/27/21, when the shares were $48.09. In the past year, shares of the company have risen 143.30%. At 50 days, the moving average achieved is $66.92 while at 200 days, the moving average is $49.10. There were 1.67 million shares traded in the last session, down from 1.75 million in the previous session.

Alaska Air Group Inc. [NYSE:ALK] Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 2.40 PS value ratio is reported for the last one year of reported earnings. This is above the average return 1.11 for the industry, which means ALK offers an unattractive investment opportunity than its competitors do.

ALK Share Price Support And Resistance Levels

Based on the daily chart, the immediate backing lies around the 68.83 level, and the violation of this level will cause a further drop to 66.15 level. At the upper end, 74.19 remains a key resistance. As the stock increases, it may find resistance at 71.51. In the 14-day chart, the Relative Strength Index standing at 49.99 suggests a technical neutral stance while the MACD standing at -2.36 indicates price will decrease in the next trading period. Stochastic %K at 24.95% suggests holding the stock while Percent R indicator at 57.42% suggests low price movement.

How much is the short interest in Alaska Air Group Inc.?

There have been a drop in short interest in the Alaska Air Group Inc. Financial stock, with short interest down by -0.89 million shares to 3.24 million shares on Feb 25, 2021. According to data provided by Yahoo Finance, the short interest on Mar 30, 2021 stood at 2.35 million shares. This 27.47% increase suggests some bearish sentiment was experienced by the stock. Shorted shares accounted for just 2.12% of the overall float in the stock, while the stock’s days to cover moved to 1.3.

How do analysts view Alaska Air Group Inc.?

In regard to the share price forecast for Alaska Air Group Inc. stock, the analysts, as surveyed by FactSet, forecast the price to reach $83.00 in the next twelve months, representing almost an 17.07% growth from its recent price of $68.83. Among Alaska Air Group Inc. stock projections, $104.00 is the highest analyst target for the stock, while $68.00 is the lowest. Despite this, 14 analysts who share their consensus rating for ALK in 2021 agree that the stock is a Buy. The latest rating change took place on 4/14/21, when JP Morgan Ratings launched coverage of the stock at “Overweight” and assigned a price target of $104.0.

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