Allegiant Travel Company (NASDAQ:ALGT) – Analysts at Imperial Capital reduced their Q4 2017 earnings per share (EPS) estimates for Allegiant Travel in a report released on Monday. Imperial Capital analyst M. Derchin now forecasts that the transportation company will earn $1.62 per share for the quarter, down from their prior forecast of $2.15. Imperial Capital also issued estimates for Allegiant Travel’s Q1 2018 earnings at $2.33 EPS, Q2 2018 earnings at $2.68 EPS, Q3 2018 earnings at $1.50 EPS, Q4 2018 earnings at $2.28 EPS and FY2019 earnings at $6.50 EPS.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Wednesday, October 25th. The transportation company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.31 by $0.08. Allegiant Travel had a net margin of 10.52% and a return on equity of 32.19%. The company had revenue of $348.80 million during the quarter, compared to the consensus estimate of $349.79 million. During the same period in the previous year, the firm posted $2.75 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis.

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A number of other analysts have also commented on ALGT. Cowen and Company restated a “market perform” rating and set a $150.00 target price (down from $157.00) on shares of Allegiant Travel in a research report on Thursday, July 27th. Morgan Stanley cut their target price on shares of Allegiant Travel from $139.00 to $133.00 and set an “equal weight” rating for the company in a research report on Thursday, August 17th. BidaskClub lowered shares of Allegiant Travel from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered shares of Allegiant Travel from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Sidoti reaffirmed a “buy” rating and set a $186.00 price target (up previously from $183.00) on shares of Allegiant Travel in a report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $144.17.

Allegiant Travel announced that its board has authorized a share buyback program on Wednesday, July 26th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the transportation company to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Wednesday, November 22nd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Tuesday, November 21st. Allegiant Travel’s dividend payout ratio (DPR) is 30.08%.

In other news, President John Redmond acquired 11,000 shares of the business’s stock in a transaction on Friday, October 27th. The shares were acquired at an average price of $138.28 per share, for a total transaction of $1,521,080.00. Following the completion of the transaction, the president now directly owns 92,574 shares of the company’s stock, valued at approximately $12,801,132.72. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Scott Sheldon sold 5,872 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $137.63, for a total transaction of $808,163.36. Following the transaction, the chief financial officer now owns 21,202 shares in the company, valued at approximately $2,918,031.26. The disclosure for this sale can be found here. Insiders own 21.00% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. OppenheimerFunds Inc. grew its holdings in shares of Allegiant Travel by 31.4% in the first quarter. OppenheimerFunds Inc. now owns 6,628 shares of the transportation company’s stock worth $1,062,000 after purchasing an additional 1,582 shares during the last quarter. Teachers Advisors LLC grew its holdings in shares of Allegiant Travel by 3.9% in the first quarter. Teachers Advisors LLC now owns 23,021 shares of the transportation company’s stock worth $3,689,000 after purchasing an additional 874 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Allegiant Travel by 0.5% in the first quarter. Legal & General Group Plc now owns 22,068 shares of the transportation company’s stock worth $3,537,000 after purchasing an additional 111 shares during the last quarter. Thrivent Financial For Lutherans grew its holdings in shares of Allegiant Travel by 5.3% in the first quarter. Thrivent Financial For Lutherans now owns 7,390 shares of the transportation company’s stock worth $1,184,000 after purchasing an additional 370 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Allegiant Travel by 4.7% in the first quarter. Vanguard Group Inc. now owns 1,157,458 shares of the transportation company’s stock worth $185,482,000 after purchasing an additional 51,487 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Allegiant Travel 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.

Earnings History and Estimates for Allegiant Travel (NASDAQ:ALGT)

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