Alaska Air Group, Inc. (NYSE:ALK) declared a quarterly dividend on Friday, August 4th, RTT News reports. Stockholders of record on Tuesday, August 22nd will be paid a dividend of 0.30 per share by the transportation company on Thursday, September 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, August 18th.
Alaska Air Group has raised its dividend by an average of 76.5% per year over the last three years and has raised its dividend every year for the last 3 years. Alaska Air Group has a payout ratio of 15.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Alaska Air Group to earn $8.65 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 13.9%.
Alaska Air Group (NYSE ALK) opened at 83.81 on Thursday. Alaska Air Group has a one year low of $64.19 and a one year high of $101.43. The firm has a market capitalization of $10.35 billion, a PE ratio of 13.63 and a beta of 0.95. The stock’s 50 day moving average is $88.29 and its 200-day moving average is $90.31.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.52 by $0.01. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.10 billion. Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. The firm’s revenue was up 40.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.12 earnings per share. On average, analysts anticipate that Alaska Air Group will post $7.82 EPS for the current fiscal year.
Several brokerages recently issued reports on ALK. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price target on shares of Alaska Air Group in a research note on Friday, May 26th. BidaskClub lowered shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Morgan Stanley increased their price target on shares of Alaska Air Group from $102.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, April 28th. Cowen and Company upgraded shares of Alaska Air Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $102.00 to $103.00 in a research note on Monday, April 24th. Finally, Bank of America Corporation increased their price target on shares of Alaska Air Group from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, June 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $105.41.
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In related news, EVP Andrew R. Harrison sold 2,350 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $86.03, for a total value of $202,170.50. Following the transaction, the executive vice president now owns 21,328 shares of the company’s stock, valued at $1,834,847.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Joseph A. Sprague sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $90.85, for a total transaction of $635,950.00. Following the completion of the transaction, the senior vice president now directly owns 7,191 shares in the company, valued at approximately $653,302.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,850 shares of company stock worth $2,149,881. Insiders own 0.57% of the company’s stock.
About Alaska Air Group
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.
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