Allegiant Travel Company (NASDAQ:ALGT) to Issue Quarterly Dividend of $0.70

Allegiant Travel Company (NASDAQ:ALGT) announced a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Stockholders of record on Wednesday, November 22nd will be paid a dividend of 0.70 per share by the transportation company on Tuesday, December 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Tuesday, November 21st.

Shares of Allegiant Travel (NASDAQ ALGT) traded up $0.85 during trading on Friday, hitting $127.70. 134,600 shares of the stock were exchanged, compared to its average volume of 138,763. Allegiant Travel has a 12 month low of $111.54 and a 12 month high of $182.25. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.01 and a current ratio of 1.05. The company has a market cap of $2,039.48, a P/E ratio of 13.63, a PEG ratio of 5.26 and a beta of 0.12.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.08. The business had revenue of $348.80 million during the quarter, compared to analysts’ expectations of $349.79 million. Allegiant Travel had a net margin of 10.52% and a return on equity of 32.19%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.75 EPS. equities analysts predict that Allegiant Travel will post 8.52 earnings per share for the current year.

Allegiant Travel declared that its board has initiated a share buyback program on Wednesday, July 26th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the transportation company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

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In related news, CFO Scott Sheldon sold 5,872 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $137.63, for a total transaction of $808,163.36. Following the transaction, the chief financial officer now directly owns 21,202 shares of the company’s stock, valued at $2,918,031.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President John Redmond bought 11,000 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were bought at an average cost of $138.28 per share, for a total transaction of $1,521,080.00. Following the completion of the purchase, the president now owns 92,574 shares of the company’s stock, valued at $12,801,132.72. The disclosure for this purchase can be found here. 21.00% of the stock is owned by corporate insiders.

ALGT has been the subject of a number of research analyst reports. ValuEngine upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating in a research report on Thursday, July 20th. Zacks Investment Research upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a research report on Monday, July 17th. Citigroup Inc. decreased their price target on shares of Allegiant Travel from $175.00 to $168.00 and set a “buy” rating for the company in a research report on Tuesday, September 26th. Morgan Stanley decreased their price target on shares of Allegiant Travel from $139.00 to $133.00 and set an “equal weight” rating for the company in a research report on Thursday, August 17th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $135.00 price target (down from $150.00) on shares of Allegiant Travel in a research report on Friday, September 22nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. Allegiant Travel currently has a consensus rating of “Hold” and an average price target of $144.17.

About Allegiant Travel

Allegiant Travel Company is a leisure travel company. The Company is focused on providing travel services and products to residents of under-served cities in the United States. It also provides air transportation under fixed fee flying arrangements. The Company’s products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services and fixed fee contract air transportation.

Dividend History for Allegiant Travel (NASDAQ:ALGT)

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