Allegiant Travel (NASDAQ:ALGT) to Issue $0.60 Quarterly Dividend

Allegiant Travel (NASDAQ:ALGT) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.60 per share by the transportation company on Monday, June 3rd. This represents a $2.40 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend is Tuesday, May 14th.

Allegiant Travel has raised its dividend payment by an average of 19.7% per year over the last three years. Allegiant Travel has a payout ratio of 30.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Allegiant Travel to earn $8.54 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 28.1%.

Allegiant Travel Stock Down 1.1 %

Shares of NASDAQ:ALGT traded down $0.60 during trading hours on Wednesday, reaching $53.29. The stock had a trading volume of 128,485 shares, compared to its average volume of 275,832. The stock has a market capitalization of $971.48 million, a price-to-earnings ratio of 8.53, a P/E/G ratio of 1.16 and a beta of 1.63. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.83. The firm’s 50 day moving average is $65.92 and its 200-day moving average is $71.57. Allegiant Travel has a 1 year low of $51.13 and a 1 year high of $130.93.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Tuesday, May 7th. The transportation company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06. The firm had revenue of $656.70 million during the quarter, compared to the consensus estimate of $645.23 million. Allegiant Travel had a net margin of 4.54% and a return on equity of 3.80%. Allegiant Travel’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.04 EPS. Research analysts predict that Allegiant Travel will post 4.61 earnings per share for the current fiscal year.

Insider Transactions at Allegiant Travel

In other news, Director Gary Ellmer sold 2,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $79.10, for a total transaction of $158,200.00. Following the completion of the transaction, the director now directly owns 8,490 shares in the company, valued at approximately $671,559. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 17.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ALGT. TD Cowen increased their price target 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. Raymond James decreased their price target on shares of Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th. UBS Group assumed coverage on shares of Allegiant Travel in a research report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 price objective on the stock. Barclays dropped their price target on shares of Allegiant Travel from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Friday, April 5th. Finally, Susquehanna dropped their target price on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently 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.