Allegiant Travel to Post Q1 2024 Earnings of $0.65 Per Share, Seaport Res Ptn Forecasts (NASDAQ:ALGT)

Allegiant Travel (NASDAQ:ALGT - Free Report) - Analysts at Seaport Res Ptn increased their Q1 2024 earnings per share estimates for Allegiant Travel in a report issued on Monday, April 8th. Seaport Res Ptn analyst D. Mckenzie now forecasts that the transportation company will post earnings of $0.65 per share for the quarter, up from their previous estimate of $0.55. The consensus estimate for Allegiant Travel's current full-year earnings is $6.00 per share. Seaport Res Ptn also issued estimates for Allegiant Travel's Q2 2024 earnings at $1.60 EPS and FY2024 earnings at $4.60 EPS.

Other equities research analysts have also issued research reports about the company. 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 research note on Tuesday, February 6th. UBS Group began coverage on Allegiant Travel in a research note on Wednesday, March 20th. They set a "sell" rating and a $58.00 price objective on the stock. Barclays dropped their price objective on 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. TD Cowen upped their target price on shares of Allegiant Travel from $82.00 to $85.00 and gave the company a "market perform" rating in a report on Tuesday, February 6th. Finally, Susquehanna lowered their price target on shares of Allegiant Travel from $76.00 to $65.00 and set a "neutral" rating for the company in a report on Tuesday. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $89.75.

Allegiant Travel Price Performance

Shares of NASDAQ ALGT traded up $1.17 on Thursday, hitting $63.32. The company's stock had a trading volume of 293,855 shares, compared to its average volume of 256,841. The stock has a 50 day moving average of $73.12 and a 200-day moving average of $73.72. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 10.02, a price-to-earnings-growth ratio of 0.88 and a beta of 1.58. Allegiant Travel has a 12-month low of $54.87 and a 12-month high of $130.93. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.83 and a quick ratio of 0.80.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its quarterly earnings results on Monday, February 5th. The transportation company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.52. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. The business had revenue of $611.00 million during the quarter, compared to the consensus estimate of $596.42 million. During the same quarter in the previous year, the company posted $3.17 EPS. The business's revenue was down .1% on a year-over-year basis.

Institutional Investors Weigh In On Allegiant Travel

Several large investors have recently made changes to their positions in ALGT. GAMMA Investing LLC purchased a new stake in Allegiant Travel during the 4th quarter worth $28,000. Lazard Asset Management LLC purchased a new stake in shares of Allegiant Travel in the third quarter worth about $31,000. Castleview Partners LLC acquired a new stake in shares of Allegiant Travel in the second quarter valued at about $44,000. US Bancorp DE raised its holdings in shares of Allegiant Travel by 69.8% during the 4th quarter. US Bancorp DE now owns 574 shares of the transportation company's stock valued at $47,000 after buying an additional 236 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its position in Allegiant Travel by 32.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 819 shares of the transportation company's stock worth $56,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company's stock.

Insider Activity at Allegiant Travel

In other news, Director Gary Ellmer sold 2,000 shares of the firm's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $79.10, for a total value of $158,200.00. Following the transaction, the director now directly owns 8,490 shares in the company, valued at approximately $671,559. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 17.50% of the stock is owned by insiders.

Allegiant Travel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.79%. The ex-dividend date was Wednesday, February 14th. Allegiant Travel's dividend payout ratio (DPR) is currently 37.97%.

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.