Allegiant Travel (NASDAQ:ALGT) Announces Earnings Results

Allegiant Travel (NASDAQ:ALGT) released its quarterly earnings results on Tuesday. The transportation company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06, Briefing.com reports. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. The company had revenue of $656.70 million for the quarter, compared to analyst estimates of $645.23 million. During the same quarter in the previous year, the company posted $3.04 earnings per share. The firm’s revenue was up 1.1% compared to the same quarter last year.

Allegiant Travel Stock Down 0.3 %

Shares of Allegiant Travel stock traded down $0.17 during midday trading on Wednesday, reaching $53.72. 115,831 shares of the company’s stock traded hands, compared to its average volume of 275,709. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.83. Allegiant Travel has a 52 week low of $51.13 and a 52 week high of $130.93. The company’s 50 day simple moving average is $65.92 and its 200 day simple moving average is $71.57. The company has a market cap of $979.32 million, a price-to-earnings ratio of 8.53, a price-to-earnings-growth ratio of 1.16 and a beta of 1.63.

Allegiant Travel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be given a $0.60 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.40 annualized dividend and a yield of 4.47%. Allegiant Travel’s dividend payout ratio (DPR) is 37.97%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ALGT shares. TD Cowen raised their price target on Allegiant Travel from $82.00 to $85.00 and gave the stock a “market perform” rating in a report on Tuesday, February 6th. Raymond James reduced their target price on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. Barclays lowered their price objective on shares of Allegiant Travel from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Friday, April 5th. Susquehanna cut their target price on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. Finally, UBS Group started coverage on shares of Allegiant Travel in a research report on Wednesday, March 20th. They set a “sell” rating and a $58.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Allegiant Travel has an average rating of “Hold” and a consensus price target of $89.75.

Insider Transactions at Allegiant Travel

In related news, Director Gary Ellmer sold 2,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $79.10, for a total value of $158,200.00. Following the sale, the director now directly owns 8,490 shares in the company, valued at approximately $671,559. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 17.50% 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.