Brokers Set Expectations for Allegiant Travel Co.’s FY2018 Earnings (ALGT)
Allegiant Travel Co. (NASDAQ:ALGT) – Equities research analysts at Imperial Capital reduced their FY2018 earnings estimates for Allegiant Travel in a research note issued on Tuesday. Imperial Capital analyst B. Mcadoo now expects that the firm will earn $11.25 per share for the year, down from their previous estimate of $11.56. Imperial Capital currently has a “Outperform” rating and a $196.00 price target on the stock. Imperial Capital also issued estimates for Allegiant Travel’s FY2019 earnings at $6.47 EPS.
A number of other equities analysts also recently issued reports on ALGT. Cowen and Company reduced 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. Zacks Investment Research raised Allegiant Travel from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 2nd. Stifel Nicolaus cut their target price 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. Credit Suisse Group AG set a $133.00 target price on Allegiant Travel and gave the company a “hold” rating in a research report on Tuesday, September 13th. Finally, Buckingham Research raised Allegiant Travel from a “neutral” rating to a “buy” rating and set a $168.00 target price on the stock in a research report on Friday, September 23rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $176.83.
Shares of Allegiant Travel (NASDAQ:ALGT) remained flat at $169.30 during trading on Thursday. 164,497 shares of the stock traded hands. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 11.99 and a beta of -0.27. Allegiant Travel has a 12-month low of $121.70 and a 12-month high of $196.11. The company has a 50-day moving average price of $150.35 and a 200 day moving average price of $141.77.
Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $2.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.66 by $0.09. Allegiant Travel had a return on equity of 60.20% and a net margin of 17.57%. The business had revenue of $33.50 million for the quarter, compared to the consensus estimate of $84.35 million. During the same period in the previous year, the business earned $2.62 earnings per share. The business’s revenue was down 88.8% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Wednesday, November 23rd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Monday, November 21st. Allegiant Travel’s payout ratio is currently 19.86%.
In other news, CFO Scott Sheldon sold 2,596 shares of the stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $153.70, for a total transaction of $399,005.20. Following the sale, the chief financial officer now directly owns 20,964 shares of the company’s stock, valued at approximately $3,222,166.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 21.00% of the company’s stock.
Several large investors have recently bought and sold shares of ALGT. Fuller & Thaler Asset Management Inc. purchased a new stake in Allegiant Travel during the third quarter valued at about $120,000. Pacer Advisors Inc. bought a new position in shares of Allegiant Travel during the second quarter worth $148,000. Bank of Montreal Can bought a new position in shares of Allegiant Travel during the second quarter worth $151,000. Barclays PLC bought a new position in shares of Allegiant Travel during the second quarter worth $155,000. Finally, BlackRock Inc. raised its position in shares of Allegiant Travel by 8.1% in the third quarter. BlackRock Inc. now owns 1,431 shares of the company’s stock worth $189,000 after buying an additional 107 shares in the last quarter. 80.38% of the stock is currently owned by institutional investors and hedge funds.
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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