Allegiant Travel (NASDAQ:ALGT – Free Report) – Equities research analysts at Zacks Research upped their Q2 2024 earnings per share (EPS) estimates for shares of Allegiant Travel in a report issued on Wednesday, June 19th. Zacks Research analyst M. Basu now forecasts that the transportation company will earn $0.95 per share for the quarter, up from their prior forecast of $0.91. The consensus estimate for Allegiant Travel’s current full-year earnings is $3.61 per share. Zacks Research also issued estimates for Allegiant Travel’s Q3 2024 earnings at $0.50 EPS, FY2024 earnings at $3.69 EPS, Q3 2025 earnings at $1.73 EPS, Q4 2025 earnings at $2.65 EPS, FY2025 earnings at $7.94 EPS, Q1 2026 earnings at $2.45 EPS and FY2026 earnings at $10.47 EPS.
Other equities analysts have also recently issued research reports about the company. UBS Group initiated coverage on Allegiant Travel in a report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 price target for the company. Susquehanna decreased their price target on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, April 9th. TD Cowen decreased their price target on shares of Allegiant Travel from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Wednesday, May 15th. Finally, Barclays decreased their price target on shares of Allegiant Travel from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $77.57.
Check Out Our Latest Analysis on Allegiant Travel
Allegiant Travel Stock Down 0.1 %
NASDAQ ALGT opened at $52.87 on Monday. The stock has a market cap of $963.93 million, a PE ratio of 16.73, a P/E/G ratio of 1.42 and a beta of 1.65. Allegiant Travel has a fifty-two week low of $46.90 and a fifty-two week high of $130.93. The business has a 50 day moving average price of $54.44 and a two-hundred day moving average price of $68.25. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.35.
Allegiant Travel (NASDAQ:ALGT – Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The transportation company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The firm had revenue of $656.70 million during the quarter, compared to analysts’ expectations of $645.23 million. Allegiant Travel had a return on equity of 0.50% and a net margin of 2.26%. Allegiant Travel’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.04 EPS.
Allegiant Travel Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Tuesday, May 14th. Allegiant Travel’s dividend payout ratio (DPR) is presently 75.95%.
Insider Buying and Selling
In related news, CMO Scott Wayne Deangelo sold 19,687 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $53.68, for a total transaction of $1,056,798.16. Following the transaction, the chief marketing officer now directly owns 64,812 shares in the company, valued at $3,479,108.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Robert Paul Wilson III sold 4,600 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $54.00, for a total transaction of $248,400.00. Following the transaction, the executive vice president now directly owns 75,698 shares in the company, valued at $4,087,692. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Scott Wayne Deangelo sold 19,687 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $53.68, for a total value of $1,056,798.16. Following the completion of the sale, the chief marketing officer now owns 64,812 shares in the company, valued at $3,479,108.16. The disclosure for this sale can be found here. Insiders have sold 26,037 shares of company stock worth $1,395,948 over the last ninety days. 17.50% of the stock is owned by insiders.
Institutional Investors Weigh In On Allegiant Travel
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Allegiant Travel by 2.3% in the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock valued at $131,591,000 after buying an additional 38,612 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Allegiant Travel by 14.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock valued at $65,972,000 after purchasing an additional 98,662 shares during the period. U S Global Investors Inc. increased its holdings in shares of Allegiant Travel by 23.4% during the fourth quarter. U S Global Investors Inc. now owns 647,055 shares of the transportation company’s stock valued at $53,453,000 after purchasing an additional 122,844 shares during the period. Franklin Resources Inc. increased its holdings in shares of Allegiant Travel by 15.4% during the fourth quarter. Franklin Resources Inc. now owns 620,180 shares of the transportation company’s stock valued at $51,233,000 after purchasing an additional 82,813 shares during the period. Finally, Donald Smith & CO. Inc. increased its holdings in shares of Allegiant Travel by 106.7% during the first quarter. Donald Smith & CO. Inc. now owns 309,781 shares of the transportation company’s stock valued at $23,299,000 after purchasing an additional 159,892 shares during the period. 85.81% of the stock is currently owned by institutional investors.
Allegiant Travel Company Profile
Allegiant Travel Company, a leisure travel company, provides 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. As of February 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.
Further Reading
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