Wall Street brokerages forecast that Allegiant Travel (NASDAQ:ALGT) will report $387.63 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Allegiant Travel’s earnings. The highest sales estimate is $391.00 million and the lowest is $382.20 million. Allegiant Travel reported sales of $348.77 million in the same quarter last year, which indicates a positive year over year growth rate of 11.1%. The business is scheduled to report its next quarterly earnings report on Wednesday, October 24th.
On average, analysts expect that Allegiant Travel will report full-year sales of $1.66 billion for the current year, with estimates ranging from $1.65 billion to $1.67 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.85 billion per share, with estimates ranging from $1.82 billion to $1.87 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Allegiant Travel.
Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Wednesday, July 25th. The transportation company reported $3.10 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.44. The firm had revenue of $436.80 million during the quarter, compared to the consensus estimate of $437.69 million. Allegiant Travel had a return on equity of 30.22% and a net margin of 13.21%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.94 EPS.
A number of brokerages recently issued reports on ALGT. Citigroup lowered 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. Barclays lowered their price target on Allegiant Travel from $135.00 to $117.00 and set an “underweight” rating for the company in a research report on Monday, July 16th. Morgan Stanley lowered their price target on Allegiant Travel from $164.00 to $156.00 and set an “equal weight” rating for the company in a research report on Thursday, July 12th. BidaskClub upgraded Allegiant Travel from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 21st. Finally, Zacks Investment Research downgraded Allegiant Travel from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $152.36.
In related news, EVP Robert Paul Wilson III sold 380 shares of the firm’s stock in a transaction 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 $2,405,338.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 20.80% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. D.A. Davidson & CO. purchased a new stake in Allegiant Travel in the first quarter worth $201,000. ARGI Investment Services LLC purchased a new stake in Allegiant Travel in the first quarter worth $207,000. Oppenheimer Asset Management Inc. purchased a new stake in Allegiant Travel in the first quarter worth $223,000. Bayesian Capital Management LP purchased a new stake in Allegiant Travel in the first quarter worth $236,000. Finally, Raymond James & Associates increased its stake in Allegiant Travel by 41.2% in the second quarter. Raymond James & Associates now owns 1,757 shares of the transportation company’s stock worth $244,000 after purchasing an additional 513 shares during the period. Institutional investors and hedge funds own 98.00% of the company’s stock.
Shares of NASDAQ ALGT traded up $0.30 during midday trading on Monday, reaching $135.15. 195,414 shares of the stock traded hands, compared to its average volume of 179,392. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market capitalization of $2.21 billion, a P/E ratio of 14.12 and a beta of 0.15. Allegiant Travel has a one year low of $111.54 and a one year high of $181.45.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 31st. Investors of record on Friday, August 17th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.07%. Allegiant Travel’s dividend payout ratio is presently 29.32%.
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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