Q2 2024 EPS Estimates for Allegiant Travel (NASDAQ:ALGT) Lifted by Analyst

Allegiant Travel (NASDAQ:ALGT) – Zacks Research lifted their Q2 2024 earnings per share (EPS) estimates for Allegiant Travel in a research report issued on Wednesday, June 19th. Zacks Research analyst M. Basu now expects that the transportation company will post earnings per share of $0.95 for the quarter, up from their prior forecast of $0.91. The consensus estimate for Allegiant Travel’s current full-year earnings is $3.61 per share. Zacks Research also issued estimates for Allegiant Travel’s Q3 2024 earnings at $0.50 EPS, FY2024 earnings at $3.69 EPS, Q3 2025 earnings at $1.73 EPS, Q4 2025 earnings at $2.65 EPS, FY2025 earnings at $7.94 EPS, Q1 2026 earnings at $2.45 EPS and FY2026 earnings at $10.47 EPS.

Several other analysts have also recently weighed in on the company. UBS Group began coverage on Allegiant Travel in a report on Wednesday, March 20th. They set a “sell” rating and a $58.00 price target for the company. TD Cowen lowered their price objective on Allegiant Travel from $65.00 to $60.00 and set a “hold” rating on the stock in a research note on Wednesday, May 15th. Susquehanna lowered their price objective on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Finally, Barclays lowered their price objective on Allegiant Travel from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $77.57.

Allegiant Travel Stock Performance

NASDAQ:ALGT opened at $52.87 on Monday. The stock has a market cap of $963.93 million, a P/E ratio of 16.73, a PEG ratio of 1.42 and a beta of 1.65. The stock has a 50 day simple moving average of $54.44 and a 200 day simple moving average of $68.25. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.35. Allegiant Travel has a 1-year low of $46.90 and a 1-year high of $130.93.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Tuesday, May 7th. The transportation company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.06. The business had revenue of $656.70 million during the quarter, compared to analysts’ expectations of $645.23 million. Allegiant Travel had a return on equity of 0.50% and a net margin of 2.26%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $3.04 EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Interval Partners LP bought a new stake in Allegiant Travel during the 1st quarter worth approximately $5,641,000. PAX Financial Group LLC purchased a new position in Allegiant Travel in the first quarter valued at approximately $620,000. Donald Smith & CO. Inc. lifted its position in shares of Allegiant Travel by 106.7% during the first quarter. Donald Smith & CO. Inc. now owns 309,781 shares of the transportation company’s stock worth $23,299,000 after acquiring an additional 159,892 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Allegiant Travel by 2.3% during the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock worth $131,591,000 after acquiring an additional 38,612 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in shares of Allegiant Travel by 57.5% during the first quarter. First Eagle Investment Management LLC now owns 103,513 shares of the transportation company’s stock worth $7,785,000 after acquiring an additional 37,800 shares in the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Allegiant Travel news, COO Keny Frank Wilper sold 1,000 shares of Allegiant Travel stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $51.00, for a total transaction of $51,000.00. Following the transaction, the chief operating officer now directly owns 9,422 shares of the company’s stock, valued at approximately $480,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Keny Frank Wilper sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $51.00, for a total value of $51,000.00. Following the transaction, the chief operating officer now directly owns 9,422 shares of the company’s stock, valued at approximately $480,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Paul Wilson III sold 750 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $53.00, for a total value of $39,750.00. Following the completion of the transaction, the executive vice president now directly owns 74,948 shares in the company, valued at $3,972,244. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,037 shares of company stock valued at $1,395,948. 17.50% of the stock is currently owned by company insiders.

Allegiant Travel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Tuesday, May 14th. Allegiant Travel’s payout ratio is presently 75.95%.

About Allegiant Travel

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.