Analysts Set Expectations for Allegiant Travel Company’s FY2018 Earnings (ALGT)
Allegiant Travel Company (NASDAQ:ALGT) – Analysts at Imperial Capital lowered their FY2018 EPS estimates for Allegiant Travel Company in a note issued to investors on Thursday, according to Zacks Investment Research. Imperial Capital analyst M. Derchin now anticipates that the transportation company will post earnings per share of $9.90 for the year, down from their prior estimate of $10.65. Imperial Capital currently has a “In-Line” rating and a $148.00 target price on the stock.
Allegiant Travel Company (NASDAQ:ALGT) last announced its earnings results on Tuesday, April 25th. The transportation company reported $2.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.58 by $0.08. The company had revenue of $375.80 million for the quarter, compared to analyst estimates of $374.99 million. Allegiant Travel Company had a return on equity of 54.38% and a net margin of 16.11%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.29 earnings per share.
A number of other research analysts have also recently issued reports on ALGT. Bank of America Corp cut Allegiant Travel Company from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $205.00 to $175.00 in a research note on Wednesday, April 26th. Cowen and Company dropped their target price on shares of Allegiant Travel Company from $162.00 to $157.00 and set a “market perform” rating for the company in a report on Wednesday, April 26th. Stifel Nicolaus reiterated a “hold” rating and set a $173.00 target price on shares of Allegiant Travel Company in a report on Wednesday, April 19th. Deutsche Bank AG lowered shares of Allegiant Travel Company from a “buy” rating to a “hold” rating and dropped their target price for the stock from $190.00 to $153.00 in a report on Wednesday, April 26th. Finally, Zacks Investment Research lowered shares of Allegiant Travel Company from a “hold” rating to a “sell” rating in a report on Friday, April 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $164.70.
Allegiant Travel Company (NASDAQ:ALGT) opened at 146.15 on Friday. The firm has a market capitalization of $2.39 billion, a P/E ratio of 12.81 and a beta of -0.20. The firm’s 50-day moving average price is $155.88 and its 200 day moving average price is $162.26. Allegiant Travel Company has a one year low of $121.70 and a one year high of $182.25.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Friday, May 19th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $2.80 annualized dividend and a dividend yield of 1.92%. Allegiant Travel Company’s payout ratio is 21.21%.
In other news, EVP Jude Bricker sold 4,421 shares of Allegiant Travel Company stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $158.67, for a total transaction of $701,480.07. Following the completion of the transaction, the executive vice president now directly owns 21,569 shares in the company, valued at $3,422,353.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary Ellmer sold 580 shares of Allegiant Travel Company stock in a transaction that occurred on Friday, March 24th. The shares were sold at an average price of $162.00, for a total transaction of $93,960.00. Following the transaction, the director now owns 2,255 shares of the company’s stock, valued at $365,310. The disclosure for this sale can be found here. 21.00% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in ALGT. Neuburgh Advisers LLC raised its position in Allegiant Travel Company by 10.0% in the first quarter. Neuburgh Advisers LLC now owns 748 shares of the transportation company’s stock valued at $120,000 after buying an additional 68 shares during the last quarter. James Investment Research Inc. purchased a new stake in shares of Allegiant Travel Company during the first quarter valued at $140,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Allegiant Travel Company during the third quarter valued at $120,000. Americafirst Capital Management LLC purchased a new stake in shares of Allegiant Travel Company during the first quarter valued at $180,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of Allegiant Travel Company during the first quarter valued at $183,000. Hedge funds and other institutional investors own 79.27% of the company’s stock.
Allegiant Travel Company Company Profile
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. It also provides air transportation under fixed fee flying arrangements. The Company’s products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services and fixed fee contract air transportation.
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