Allegiant Travel (NASDAQ:ALGT) Announces Earnings Results

Allegiant Travel (NASDAQ:ALGT) posted its earnings results on Tuesday. The transportation company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06, Briefing.com reports. The company had revenue of $656.70 million during the quarter, compared to analyst estimates of $645.23 million. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.04 earnings per share.

Allegiant Travel Stock Down 1.5 %

ALGT stock opened at $53.06 on Thursday. 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 cap of $967.28 million, a PE ratio of 8.40, a PEG ratio of 1.16 and a beta of 1.63. Allegiant Travel has a 1 year low of $51.13 and a 1 year high of $130.93. The company has a fifty day simple moving average of $65.51 and a 200 day simple moving average of $71.44.

Allegiant Travel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 4.52%. Allegiant Travel’s dividend payout ratio (DPR) is 37.97%.

Insiders Place Their Bets

In other news, Director Gary Ellmer sold 2,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $79.10, for a total transaction of $158,200.00. Following the transaction, the director now owns 8,490 shares of the company’s stock, valued at approximately $671,559. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 17.50% of the company’s stock.

Analyst Ratings Changes

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

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.