Allegiant Travel Co. (ALGT) Forecasted to Earn Q3 2016 Earnings of $2.58 Per Share
Allegiant Travel Co. (NASDAQ:ALGT) – Investment analysts at Imperial Capital issued their Q3 2016 earnings per share estimates for shares of Allegiant Travel in a research note issued on Friday. Imperial Capital analyst B. Mcadoo anticipates that the brokerage will post earnings per share of $2.58 for the quarter. Imperial Capital has a “Outperform” rating and a $164.00 price objective on the stock. Imperial Capital also issued estimates for Allegiant Travel’s FY2016 earnings at $13.10 EPS, Q1 2017 earnings at $3.57 EPS, Q2 2017 earnings at $3.14 EPS, Q3 2017 earnings at $2.26 EPS, Q4 2017 earnings at $2.37 EPS, FY2017 earnings at $11.35 EPS, FY2018 earnings at $11.56 EPS and FY2019 earnings at $6.33 EPS.
Other research analysts have also recently issued research reports about the company. Stifel Nicolaus dropped their price target on Allegiant Travel from $200.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. Buckingham Research raised Allegiant Travel from a “neutral” rating to a “buy” rating and set a $168.00 price target on the stock in a research report on Friday, September 23rd. Credit Suisse Group AG set a $133.00 price target on Allegiant Travel and gave the company a “hold” rating in a research report on Tuesday, September 13th. Zacks Investment Research raised Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Thursday, July 7th. Finally, Cowen and Company dropped their price target on Allegiant Travel from $165.00 to $147.00 and set a “market perform” rating on the stock in a research report on Monday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $177.92.
Shares of Allegiant Travel (NASDAQ:ALGT) opened at 149.25 on Monday. The stock’s 50 day moving average price is $136.18 and its 200-day moving average price is $145.96. Allegiant Travel has a 52 week low of $121.70 and a 52 week high of $227.21. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 10.63 and a beta of -0.09.
Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Friday, July 29th. The company reported $3.68 earnings per share for the quarter, beating the consensus estimate of $3.55 by $0.13. The business had revenue of $344.90 million for the quarter, compared to analyst estimates of $343.11 million. Allegiant Travel had a return on equity of 64.40% and a net margin of 17.94%. Allegiant Travel’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $3.18 earnings per share.
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Allegiant Travel by 157.9% in the first quarter. BlackRock Inc. now owns 820 shares of the company’s stock valued at $146,000 after buying an additional 502 shares during the period. Pacer Advisors Inc. purchased a new position in shares of Allegiant Travel during the second quarter valued at approximately $148,000. Bank of Montreal Can purchased a new position in shares of Allegiant Travel during the second quarter valued at approximately $151,000. Barclays PLC purchased a new position in shares of Allegiant Travel during the second quarter valued at approximately $155,000. Finally, Invictus RG raised its position in shares of Allegiant Travel by 25.0% in the second quarter. Invictus RG now owns 1,359 shares of the company’s stock valued at $206,000 after buying an additional 272 shares during the period. Institutional investors and hedge funds own 79.35% of the company’s stock.
About Allegiant Travel
Allegiant Travel Company is a leisure travel company. The Company is focused on providing travel services and products to residents of under-served cities in the United States. Its products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services, fixed fee contract air transportation and other revenue.
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