Allegiant Travel (NASDAQ:ALGT) Announces Quarterly Earnings Results

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

Allegiant Travel Stock Performance

Shares of NASDAQ:ALGT traded down $0.17 during trading on Wednesday, hitting $53.72. 115,831 shares of the stock traded hands, compared to its average volume of 275,709. The company has a fifty day moving average price of $65.92 and a two-hundred day moving average price of $71.57. Allegiant Travel has a 52-week low of $51.13 and a 52-week high of $130.93. The company has a market cap of $979.32 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 quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 1.37.

Allegiant Travel Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Allegiant Travel

In other news, Director Gary Ellmer sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $79.10, for a total transaction of $158,200.00. Following the transaction, the director now directly owns 8,490 shares in the company, valued at $671,559. The sale was disclosed in a legal filing with the SEC, 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.