Alaska Air Group, Inc. (NYSE:ALK) to Issue $0.35 Quarterly Dividend

Alaska Air Group, Inc. (NYSE:ALK) declared a quarterly dividend on Tuesday, August 6th, RTT News reports. Investors of record on Tuesday, August 20th will be paid a dividend of 0.35 per share by the transportation company on Thursday, September 5th. This represents a $1.40 annualized dividend and a dividend yield of 2.24%.

Alaska Air Group has raised its dividend by an average of 17.0% per year over the last three years and has increased its dividend every year for the last 5 years. Alaska Air Group has a dividend payout ratio of 33.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Alaska Air Group to earn $7.07 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 19.8%.

Shares of Alaska Air Group stock opened at $62.47 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 0.75. The business’s fifty day simple moving average is $63.56. Alaska Air Group has a 1 year low of $53.39 and a 1 year high of $74.83. The stock has a market capitalization of $7.82 billion, a PE ratio of 14.01, a PEG ratio of 0.50 and a beta of 0.86.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, July 25th. The transportation company reported $2.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.06. Alaska Air Group had a net margin of 6.00% and a return on equity of 16.28%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter last year, the company posted $1.66 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Alaska Air Group will post 5.93 earnings per share for the current fiscal year.

In other news, EVP Andrew R. Harrison sold 4,700 shares of Alaska Air Group stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $62.63, for a total value of $294,361.00. Following the sale, the executive vice president now owns 15,867 shares in the company, valued at $993,750.21. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Andrew R. Harrison sold 1,600 shares of Alaska Air Group stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $61.53, for a total transaction of $98,448.00. Following the completion of the sale, the executive vice president now owns 20,567 shares in the company, valued at approximately $1,265,487.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,730 shares of company stock worth $550,759. Company insiders own 0.43% of the company’s stock.

Several analysts recently commented on ALK shares. Imperial Capital restated an “in-line” rating and set a $70.00 price target (up previously from $68.00) on shares of Alaska Air Group in a research report on Tuesday. Zacks Investment Research upgraded shares of Alaska Air Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Morgan Stanley raised their price target on shares of Alaska Air Group from $76.00 to $81.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. ValuEngine lowered shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Citigroup set a $66.00 price target on shares of Alaska Air Group and gave the company a “hold” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Alaska Air Group has a consensus rating of “Buy” and a consensus price target of $73.36.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.

See Also: Buy-Side Analysts

Dividend History for Alaska Air Group (NYSE:ALK)

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