Brokers Issue Forecasts for Allegiant Travel’s Q4 2024 Earnings (NASDAQ:ALGT)

Allegiant Travel (NASDAQ:ALGT) – Equities research analysts at Zacks Research boosted their Q4 2024 earnings per share estimates for Allegiant Travel in a research report issued to clients and investors on Wednesday, June 19th. Zacks Research analyst M. Basu now expects that the transportation company will post earnings of $1.67 per share for the quarter, up from their prior forecast of $1.66. The consensus estimate for Allegiant Travel’s current full-year earnings is $3.61 per share. Zacks Research also issued estimates for Allegiant Travel’s Q2 2025 earnings at $1.92 EPS.

Several other research firms have also recently commented on ALGT. UBS Group started coverage on Allegiant Travel in a research note on Wednesday, March 20th. They issued a “sell” rating and a $58.00 target price for the company. TD Cowen lowered their price objective on Allegiant Travel from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Wednesday, May 15th. Susquehanna cut their target price on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Finally, Barclays lowered their price target on shares of Allegiant Travel from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $77.57.

Allegiant Travel Stock Performance

ALGT stock opened at $52.87 on Friday. The company has a 50 day moving average price of $54.44 and a 200 day moving average price of $68.28. Allegiant Travel has a fifty-two week low of $46.90 and a fifty-two week high of $130.93. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.76 and a quick ratio of 0.74. The stock has a market capitalization of $963.82 million, a PE ratio of 16.73, a price-to-earnings-growth ratio of 1.42 and a beta of 1.65.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Tuesday, May 7th. The transportation company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. Allegiant Travel had a net margin of 2.26% and a return on equity of 0.50%. The company had revenue of $656.70 million during the quarter, compared to the consensus estimate of $645.23 million. During the same period in the previous year, the firm posted $3.04 earnings per share. The company’s revenue was up 1.1% on a year-over-year basis.

Allegiant Travel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend was Tuesday, May 14th. Allegiant Travel’s dividend payout ratio is currently 75.95%.

Insider Buying and Selling

In other Allegiant Travel news, EVP Robert Paul Wilson III sold 750 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $53.00, for a total value of $39,750.00. Following the completion of the transaction, the executive vice president now directly owns 74,948 shares of the company’s stock, valued at $3,972,244. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, COO Keny Frank Wilper sold 1,000 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $51.00, for a total transaction of $51,000.00. Following the completion of the sale, the chief operating officer now owns 9,422 shares of the company’s stock, valued at $480,522. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Paul Wilson III sold 750 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $53.00, for a total transaction of $39,750.00. Following the completion of the sale, the executive vice president now directly owns 74,948 shares in the company, valued at $3,972,244. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,037 shares of company stock valued at $1,395,948. 17.50% of the stock is owned by company insiders.

Institutional Trading of Allegiant Travel

Several hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC bought a new position in shares of Allegiant Travel during the fourth quarter worth about $28,000. Tradewinds Capital Management LLC bought a new position in shares of Allegiant Travel during the 4th quarter worth approximately $83,000. SG Americas Securities LLC acquired a new stake in shares of Allegiant Travel in the first quarter valued at approximately $141,000. Commerce Bank bought a new stake in shares of Allegiant Travel in the fourth quarter worth $201,000. Finally, Everence Capital Management Inc. acquired a new position in Allegiant Travel during the fourth quarter worth $208,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

About Allegiant Travel

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 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.