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

Allegiant Travel (NASDAQ:ALGT) updated its second quarter 2024 earnings guidance on Wednesday. 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 -.

Allegiant Travel Stock Down 2.0 %

Shares of ALGT opened at $52.80 on Wednesday. The firm has a fifty day moving average price of $65.92 and a 200-day moving average price of $71.57. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $962.54 million, a P/E ratio of 8.53, a P/E/G ratio of 1.16 and a beta of 1.63. Allegiant Travel has a 12-month low of $51.13 and a 12-month high of $130.93.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. The company had revenue of $656.70 million during the quarter, compared to analyst estimates of $645.23 million. Allegiant Travel had a net margin of 4.54% and a return on equity of 3.80%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $3.04 EPS. Equities research analysts expect that Allegiant Travel will post 4.61 earnings per share for the current year.

Allegiant Travel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be issued 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 dividend yield of 4.55%. Allegiant Travel’s payout ratio is 37.97%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ALGT. Barclays decreased their target price on Allegiant Travel from $65.00 to $60.00 and set an equal weight rating for the company in a research report on Friday, April 5th. TD Cowen lifted their price objective on Allegiant Travel from $82.00 to $85.00 and gave the company a market perform rating in a report on Tuesday, February 6th. Raymond James dropped their target price on shares of Allegiant Travel from $110.00 to $100.00 and set an outperform rating on the stock in a report on Tuesday, February 6th. UBS Group initiated coverage on shares of Allegiant Travel in a report on Wednesday, March 20th. They issued a sell rating and a $58.00 price target for the company. Finally, Susquehanna dropped their price objective on shares of Allegiant Travel from $76.00 to $65.00 and set a neutral rating on the stock in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $89.75.

Insider Transactions at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 2,000 shares of Allegiant Travel stock in a transaction on 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 directly owns 8,490 shares of the company’s stock, valued at $671,559. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.