Wall Street brokerages expect Allegiant Travel (NASDAQ:ALGT) to announce earnings of $2.01 per share for the current quarter, Zacks reports. Four analysts have made estimates for Allegiant Travel’s earnings. The highest EPS estimate is $2.40 and the lowest is $1.74. Allegiant Travel reported earnings of $2.71 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 25.8%. The business is scheduled to report its next quarterly earnings report on Wednesday, January 30th.
According to Zacks, analysts expect that Allegiant Travel will report full year earnings of $9.51 per share for the current year, with EPS estimates ranging from $9.25 to $9.86. For the next financial year, analysts forecast that the company will post earnings of $11.72 per share, with EPS estimates ranging from $10.45 to $12.59. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Allegiant Travel.
Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Wednesday, October 24th. The transportation company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.02). The firm had revenue of $393.11 million for the quarter, compared to the consensus estimate of $390.30 million. Allegiant Travel had a net margin of 12.42% and a return on equity of 26.83%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.39 earnings per share.
ALGT has been the subject of a number of research reports. Wolfe Research downgraded Allegiant Travel from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 14th. ValuEngine downgraded Allegiant Travel from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 27th. Imperial Capital reiterated an “in-line” rating and set a $130.00 target price (up from $121.00) on shares of Allegiant Travel in a research report on Tuesday, September 18th. Buckingham Research lowered their target price on Allegiant Travel from $165.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, October 10th. Finally, Cowen lowered their target price on Allegiant Travel from $142.00 to $132.00 and set a “market perform” rating for the company in a research report on Thursday, October 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $155.50.
Shares of NASDAQ ALGT traded down $8.81 during midday trading on Friday, reaching $126.32. 160,083 shares of the stock traded hands, compared to its average volume of 160,335. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.50 and a current ratio of 0.53. The company has a market capitalization of $2.18 billion, a P/E ratio of 13.23, a P/E/G ratio of 0.63 and a beta of 0.32. Allegiant Travel has a one year low of $105.21 and a one year high of $181.45.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 5th. Investors of record on Friday, November 23rd were given a $0.70 dividend. The ex-dividend date was Wednesday, November 21st. This represents a $2.80 dividend on an annualized basis and a yield of 2.22%. Allegiant Travel’s dividend payout ratio is presently 29.32%.
In related news, President John Redmond purchased 12,000 shares of the stock in a transaction that occurred on Wednesday, October 31st. The stock was bought at an average cost of $115.42 per share, for a total transaction of $1,385,040.00. Following the completion of the transaction, the president now directly owns 102,125 shares in the company, valued at $11,787,267.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 20.80% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers lifted its position in Allegiant Travel by 2.4% in the second quarter. Rhumbline Advisers now owns 32,204 shares of the transportation company’s stock worth $4,475,000 after buying an additional 745 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Allegiant Travel by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 217,109 shares of the transportation company’s stock worth $30,167,000 after buying an additional 1,016 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Allegiant Travel by 5.3% in the second quarter. Public Employees Retirement System of Ohio now owns 26,905 shares of the transportation company’s stock worth $3,738,000 after buying an additional 1,361 shares during the last quarter. Janus Henderson Group PLC lifted its position in Allegiant Travel by 5.1% in the second quarter. Janus Henderson Group PLC now owns 288,054 shares of the transportation company’s stock worth $40,025,000 after buying an additional 14,023 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Allegiant Travel by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 430,716 shares of the transportation company’s stock worth $59,848,000 after buying an additional 5,280 shares during the last quarter. Institutional investors own 86.08% of the company’s stock.
About Allegiant Travel
Allegiant Travel Company, a leisure travel company, focuses on the provision of travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited frequency nonstop flights between under-served cities and leisure destinations.
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