Brokerages forecast that Allegiant Travel (NASDAQ:ALGT) will announce $408.09 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Allegiant Travel’s earnings. The highest sales estimate is $414.64 million and the lowest is $402.60 million. Allegiant Travel reported sales of $378.56 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.8%. The business is scheduled to issue its next earnings report on Wednesday, January 30th.
On average, analysts expect that Allegiant Travel will report full-year sales of $1.66 billion for the current fiscal year, with estimates ranging from $1.65 billion to $1.67 billion. For the next financial year, analysts expect that the company will report sales of $1.85 billion, with estimates ranging from $1.78 billion to $1.90 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Allegiant Travel.
Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Wednesday, October 24th. The transportation company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.02). The company had revenue of $393.11 million for the quarter, compared to analyst estimates of $390.30 million. Allegiant Travel had a return on equity of 26.83% and a net margin of 12.42%. The business’s revenue was up 12.3% on a year-over-year basis. During the same period last year, the firm posted $1.39 earnings per share.
ALGT has been the topic of several recent research reports. ValuEngine lowered Allegiant Travel from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 27th. Morgan Stanley set a $130.00 price objective on Allegiant Travel and gave the stock a “hold” rating in a report on Thursday, October 11th. Barclays dropped their price objective on Allegiant Travel from $135.00 to $117.00 and set an “underweight” rating on the stock in a report on Monday, July 16th. BidaskClub downgraded Allegiant Travel from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 18th. Finally, Buckingham Research dropped their price objective on Allegiant Travel from $165.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, October 10th. Three analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $151.40.
In other news, EVP Robert Paul Wilson III sold 380 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $135.01, for a total value of $51,303.80. Following the completion of the sale, the executive vice president now directly owns 17,816 shares in the company, valued at approximately $2,405,338.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President John Redmond purchased 12,000 shares of the stock in a transaction dated Wednesday, October 31st. The stock was purchased at an average price of $115.42 per share, with a total value of $1,385,040.00. Following the completion of the acquisition, the president now directly owns 102,125 shares in the company, valued at approximately $11,787,267.50. The disclosure for this purchase can be found here. 20.80% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James & Associates increased its holdings in shares of Allegiant Travel by 41.2% in the 2nd quarter. Raymond James & Associates now owns 1,757 shares of the transportation company’s stock valued at $244,000 after acquiring an additional 513 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Allegiant Travel by 44.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,861 shares of the transportation company’s stock valued at $259,000 after acquiring an additional 569 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Allegiant Travel in the 2nd quarter valued at approximately $312,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Allegiant Travel in the 2nd quarter valued at approximately $370,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Allegiant Travel in the 2nd quarter valued at approximately $386,000. Institutional investors and hedge funds own 87.68% of the company’s stock.
Allegiant Travel stock opened at $121.98 on Friday. The company has a market cap of $1.93 billion, a P/E ratio of 12.77, a P/E/G ratio of 0.55 and a beta of 0.30. The company has a current ratio of 0.53, a quick ratio of 0.50 and a debt-to-equity ratio of 1.01. Allegiant Travel has a one year low of $105.21 and a one year high of $181.45.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 5th. Shareholders of record on Friday, November 23rd will be issued a dividend of $0.70 per share. The ex-dividend date is Wednesday, November 21st. This represents a $2.80 annualized dividend and a yield of 2.30%. Allegiant Travel’s dividend payout ratio is presently 29.32%.
Allegiant Travel Company Profile
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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