Allegiant Travel (NASDAQ:ALGT) Updates Q2 2024 Earnings Guidance

Allegiant Travel (NASDAQ:ALGT) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.500-1.000 for the period, compared to the consensus EPS estimate of 1.450. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

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

Allegiant Travel Price Performance

ALGT stock opened at $52.80 on Wednesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.83 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $65.92 and a two-hundred day simple moving average of $71.57. Allegiant Travel has a one year low of $51.13 and a one year high of $130.93. The stock has a market cap of $962.54 million, a PE ratio of 8.53, a P/E/G ratio of 1.16 and a beta of 1.63.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Tuesday, May 7th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. The business had revenue of $656.70 million during the quarter, compared to analyst estimates of $645.23 million. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. 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 earnings per share. On average, analysts predict that Allegiant Travel will post 4.61 EPS for the current fiscal year.

Allegiant Travel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.40 dividend on an annualized basis and a yield of 4.55%. Allegiant Travel’s dividend payout ratio (DPR) is currently 37.97%.

Insider Transactions at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 2,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $79.10, for a total value of $158,200.00. Following the transaction, the director now owns 8,490 shares in the company, valued at $671,559. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.