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.
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
Receive News & Ratings for Alaska Air Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alaska Air Group and related companies with MarketBeat.com's FREE daily email newsletter.