Allegiant Travel (NASDAQ:ALGT) Expected to Announce Earnings of $4.67 Per Share

Equities research analysts predict that Allegiant Travel (NASDAQ:ALGT) will report earnings per share of $4.67 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Allegiant Travel’s earnings, with the highest EPS estimate coming in at $5.01 and the lowest estimate coming in at $4.03. Allegiant Travel posted earnings of $3.10 per share during the same quarter last year, which would indicate a positive year over year growth rate of 50.6%. The business is scheduled to announce its next earnings report on Wednesday, July 24th.

On average, analysts expect that Allegiant Travel will report full-year earnings of $13.37 per share for the current financial year, with EPS estimates ranging from $12.35 to $14.22. For the next year, analysts forecast that the firm will post earnings of $14.68 per share, with EPS estimates ranging from $13.22 to $16.76. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Allegiant Travel.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $3.98 EPS for the quarter, beating the Zacks’ consensus estimate of $3.88 by $0.10. The business had revenue of $451.60 million for the quarter, compared to analysts’ expectations of $452.24 million. Allegiant Travel had a return on equity of 25.13% and a net margin of 9.67%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $3.42 earnings per share.

A number of research firms have commented on ALGT. BidaskClub cut Allegiant Travel from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine cut Allegiant Travel from a “hold” rating to a “sell” rating in a report on Saturday. Morgan Stanley reduced their target price on Allegiant Travel from $140.00 to $132.00 and set an “equal weight” rating on the stock in a report on Monday, May 20th. Finally, Imperial Capital reaffirmed an “outperform” rating and issued a $180.00 target price (up from $162.00) on shares of Allegiant Travel in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $153.54.

In related news, CEO Maurice J. Gallagher, Jr. sold 47,920 shares of Allegiant Travel stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $147.77, for a total value of $7,081,138.40. Following the completion of the transaction, the chief executive officer now owns 2,929,920 shares in the company, valued at $432,954,278.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Maurice J. Gallagher, Jr. sold 51,441 shares of Allegiant Travel stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $147.75, for a total value of $7,600,407.75. Following the completion of the transaction, the chief executive officer now owns 2,929,920 shares of the company’s stock, valued at approximately $432,895,680. The disclosure for this sale can be found here. Insiders sold 105,406 shares of company stock worth $15,564,673 over the last ninety days. Insiders own 20.90% of the company’s stock.

Several large investors have recently made changes to their positions in ALGT. Wasatch Advisors Inc. boosted its position in shares of Allegiant Travel by 19.7% during the first quarter. Wasatch Advisors Inc. now owns 640,318 shares of the transportation company’s stock valued at $82,902,000 after buying an additional 105,173 shares during the period. Diamond Hill Capital Management Inc. boosted its position in shares of Allegiant Travel by 14.7% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 597,208 shares of the transportation company’s stock valued at $59,852,000 after buying an additional 76,703 shares during the period. Norges Bank purchased a new position in shares of Allegiant Travel during the fourth quarter valued at approximately $6,493,000. Millennium Management LLC boosted its position in shares of Allegiant Travel by 192.4% during the fourth quarter. Millennium Management LLC now owns 67,605 shares of the transportation company’s stock valued at $6,775,000 after buying an additional 44,486 shares during the period. Finally, Royce & Associates LP boosted its position in shares of Allegiant Travel by 38.4% during the first quarter. Royce & Associates LP now owns 152,193 shares of the transportation company’s stock valued at $19,704,000 after buying an additional 42,252 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

NASDAQ:ALGT opened at $134.51 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 1.63. The firm’s 50-day simple moving average is $141.88. The company has a market capitalization of $2.20 billion, a PE ratio of 13.45 and a beta of 0.92. Allegiant Travel has a 52 week low of $98.18 and a 52 week high of $148.80.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $2.80 annualized dividend and a dividend yield of 2.08%. Allegiant Travel’s dividend payout ratio (DPR) is 28.00%.

Allegiant Travel Company Profile

Allegiant Travel Company, a leisure travel company, provides 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. As of February 15, 2019, it operated a fleet of 79 Airbus A320 series aircraft.

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