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Friday, September 22, 2023

Renewed Optimism is Surrounding Alaska Communications Systems Group Inc. (NASDAQ:ALSK)

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Alaska Communications Systems Group Inc. (ALSK) shares are trading at higher $3.76, while the current analyst price target stands at $3.00.

To add more color to this target, the company’s high over the last year is $3.20 and the low is $1.37. Over the last 52 weeks, ALSK is up 133.25% while the S&P 500 is up 18.53%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, ALSK reported a profit of $5.83 million. Alaska Communications Systems Group Inc. also saw revenues increase to $60.51 million. In addition, ALSK has free cash flow of $17.95 million as of 09-2020. The company’s EBITDA came in at $15.37 million which compares well with its peers.

ALSK booked profit margins of 4.10%, its Return on Equity (ROE) is 5.70%, and its Return on Assets is 1.70%. All told, it is clear that, ALSK needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. ALSK has a short ratio of 0.61 and outstanding shares of 54.12M.

Company Outlook

ALSK has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.8 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.18. Alaska Communications Systems Group Inc. ALSK also noted assets of $486.5 million at the end of the last quarter. Investors should also keep an eye on sector updates as ALSK has historically followed its peers on positive news.

All told, Alaska Communications Systems Group Inc. ALSK has strung together solid data and demonstrated underlying fundamentals. At its current valuation, ALSK represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Alaska Communications Systems Group Inc. ALSK is now commanding a market cap of 164.20M and a float of 47.28M. ALSK is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of ALSK stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in ALSK, either long or short, and we have not been compensated for this article.

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