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.
TRADEMARK VIOLATION NOTICE: This piece was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The original version of this piece can be viewed at https://www.dispatchtribunal.com/2017/11/11/allegiant-travel-company-plans-quarterly-dividend-of-0-70-algt.html.
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.
Receive News & Ratings for Allegiant Travel Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegiant Travel Company and related companies with MarketBeat.com's FREE daily email newsletter.