Allegiant Travel (NASDAQ:ALGT) Announces Earnings Results

Allegiant Travel (NASDAQ:ALGT) released its quarterly earnings data 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 business had revenue of $656.70 million for the quarter, compared to analyst estimates of $645.23 million. During the same quarter in the prior year, the firm posted $3.04 EPS. The business’s quarterly revenue was up 1.1% compared to the same quarter last year.

Allegiant Travel Trading Up 0.6 %

NASDAQ:ALGT traded up $0.35 on Wednesday, reaching $54.24. The company’s stock had a trading volume of 98,015 shares, compared to its average volume of 275,483. The stock has a 50 day moving average price of $65.92 and a 200 day moving average price of $71.57. Allegiant Travel has a 12-month low of $51.13 and a 12-month high of $130.93. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 1.37. The firm has a market cap of $988.80 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 disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be given a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.40 annualized dividend and a yield of 4.42%. Allegiant Travel’s payout ratio is 37.97%.

Insider Transactions at Allegiant Travel

In related news, Director Gary Ellmer sold 2,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $79.10, for a total value of $158,200.00. Following the sale, the director now owns 8,490 shares in the company, valued at approximately $671,559. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 17.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on ALGT shares. TD Cowen boosted their target price on shares of Allegiant Travel from $82.00 to $85.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 6th. Susquehanna decreased their target price on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Barclays dropped their price target 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. UBS Group initiated coverage on shares of Allegiant Travel in a research note on Wednesday, March 20th. They set a “sell” rating and a $58.00 target price on the stock. Finally, Raymond James reduced their target price on shares of Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $89.75.

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.