Brokerages forecast that Allegiant Travel (NASDAQ:ALGT) will report $436.45 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Allegiant Travel’s earnings, with estimates ranging from $428.90 million to $447.30 million. Allegiant Travel reported sales of $400.61 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.9%. The business is scheduled to report its next earnings report on Wednesday, July 25th.
On average, analysts expect that Allegiant Travel will report full year sales of $1.69 billion for the current year, with estimates ranging from $1.65 billion to $1.70 billion. For the next year, analysts anticipate that the company will post sales of $1.88 billion per share, with estimates ranging from $1.85 billion to $1.92 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Allegiant Travel.
Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Wednesday, April 25th. The transportation company reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.01 by $0.41. Allegiant Travel had a return on equity of 32.61% and a net margin of 13.42%. The company had revenue of $425.44 million during the quarter, compared to analysts’ expectations of $424.10 million. During the same quarter in the previous year, the firm earned $2.50 earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year.
ALGT has been the subject of a number of analyst reports. Citigroup reduced their price target on Allegiant Travel from $195.00 to $193.00 and set a “buy” rating for the company in a research report on Tuesday, May 29th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $172.00 price target (up previously from $157.00) on shares of Allegiant Travel in a research report on Friday, February 23rd. Zacks Investment Research cut Allegiant Travel from a “hold” rating to a “sell” rating in a research report on Thursday, April 12th. ValuEngine raised Allegiant Travel from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Finally, Buckingham Research raised Allegiant Travel from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $111.54 to $172.92 in a research report on Thursday, April 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. Allegiant Travel presently has an average rating of “Buy” and an average target price of $165.49.
Shares of NASDAQ:ALGT traded down $2.00 on Monday, reaching $144.15. The company had a trading volume of 153,656 shares, compared to its average volume of 133,038. Allegiant Travel has a twelve month low of $111.54 and a twelve month high of $181.45. The stock has a market capitalization of $2.36 billion, a P/E ratio of 15.09, a P/E/G ratio of 0.43 and a beta of 0.06. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.92 and a quick ratio of 0.89.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Friday, May 18th were given a dividend of $0.70 per share. The ex-dividend date was Thursday, May 17th. This represents a $2.80 annualized dividend and a dividend yield of 1.94%. Allegiant Travel’s dividend payout ratio is presently 29.32%.
In related news, CFO Scott Sheldon sold 4,542 shares of the business’s stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $159.67, for a total transaction of $725,221.14. Following the completion of the transaction, the chief financial officer now owns 18,278 shares of the company’s stock, valued at approximately $2,918,448.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 20.80% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of ALGT. Schwab Charles Investment Management Inc. lifted its position in shares of Allegiant Travel by 7.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 88,720 shares of the transportation company’s stock worth $13,730,000 after purchasing an additional 6,347 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Allegiant Travel by 6.4% in the 4th quarter. Victory Capital Management Inc. now owns 5,605 shares of the transportation company’s stock valued at $867,000 after acquiring an additional 338 shares in the last quarter. Aperio Group LLC raised its holdings in Allegiant Travel by 27.1% in the 4th quarter. Aperio Group LLC now owns 6,749 shares of the transportation company’s stock valued at $1,044,000 after acquiring an additional 1,439 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Allegiant Travel in the 4th quarter valued at approximately $216,000. Finally, First Trust Advisors LP raised its holdings in Allegiant Travel by 335.2% in the 4th quarter. First Trust Advisors LP now owns 14,309 shares of the transportation company’s stock valued at $2,214,000 after acquiring an additional 11,021 shares in the last quarter. 89.27% of the stock is owned by institutional investors and hedge funds.
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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