Q2 2024 EPS Estimates for Allegiant Travel Lifted by Analyst (NASDAQ:ALGT)

Allegiant Travel (NASDAQ:ALGT) – Equities research analysts at Seaport Res Ptn increased their Q2 2024 EPS estimates for shares of Allegiant Travel in a research report issued to clients and investors on Monday, July 22nd. Seaport Res Ptn analyst D. Mckenzie now expects that the transportation company will post earnings of $0.80 per share for the quarter, up from their previous estimate of $0.70. The consensus estimate for Allegiant Travel’s current full-year earnings is $3.19 per share. Seaport Res Ptn also issued estimates for Allegiant Travel’s Q3 2024 earnings at ($0.30) EPS, Q4 2024 earnings at $1.75 EPS, FY2024 earnings at $2.84 EPS, FY2025 earnings at $8.00 EPS and FY2026 earnings at $11.00 EPS.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.57 EPS for the quarter, beating 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 quarter in the prior year, the company posted $3.04 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year.

A number of other research analysts also recently commented on ALGT. Evercore ISI dropped their price objective on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating for the company in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft downgraded shares of Allegiant Travel from a “buy” rating to a “hold” rating and dropped their price objective for the company from $75.00 to $53.00 in a research note on Monday, July 8th. Susquehanna dropped their price objective on shares of Allegiant Travel from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. Barclays decreased their target price on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, TD Cowen decreased their target price on Allegiant Travel from $60.00 to $39.00 and set a “hold” rating for the company in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $62.13.

Allegiant Travel Trading Up 3.7 %

NASDAQ ALGT opened at $52.91 on Thursday. Allegiant Travel has a 12 month low of $43.91 and a 12 month high of $128.27. The company has a 50-day moving average of $50.57 and a 200-day moving average of $63.01. 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 company has a market cap of $964.66 million, a P/E ratio of 16.74, a P/E/G ratio of 1.92 and a beta of 1.66.

Allegiant Travel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.60 per share. 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 payout ratio is currently 75.95%.

Insiders Place Their Bets

In other Allegiant Travel news, EVP Robert Paul Wilson III sold 750 shares of the company’s stock in a transaction that occurred on 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 owns 74,948 shares in the company, valued at approximately $3,972,244. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Allegiant Travel news, COO Keny Frank Wilper sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $51.00, for a total value of $51,000.00. Following the completion of the transaction, the chief operating officer now owns 9,422 shares in the company, valued at approximately $480,522. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert Paul Wilson III sold 750 shares of the company’s stock in a transaction that occurred on 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 owns 74,948 shares of the company’s stock, valued at approximately $3,972,244. The disclosure for this sale can be found here. Insiders sold a total of 26,037 shares of company stock worth $1,395,948 in the last 90 days. 17.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allegiant Travel

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new position in shares of Allegiant Travel in the 4th quarter valued at approximately $28,000. CWM LLC raised its position in shares of Allegiant Travel by 275.1% in the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 930 shares in the last quarter. Tradewinds Capital Management LLC acquired a new position in shares of Allegiant Travel in the 4th quarter valued at approximately $83,000. SG Americas Securities LLC acquired a new position in shares of Allegiant Travel in the 1st quarter valued at approximately $141,000. Finally, Commerce Bank acquired a new position in shares of Allegiant Travel in the 4th quarter valued at approximately $201,000. Hedge funds and other institutional investors own 85.81% of the company’s stock.

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