Allegiant Travel (NASDAQ:ALGT) Announces Earnings Results

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

Allegiant Travel Price Performance

Shares of NASDAQ:ALGT traded up $0.35 during trading on Wednesday, reaching $54.24. The stock had a trading volume of 98,015 shares, compared to its average volume of 275,483. The stock has a market capitalization of $988.80 million, a PE ratio of 8.53, a P/E/G ratio of 1.16 and a beta of 1.63. Allegiant Travel has a 52 week low of $51.13 and a 52 week high of $130.93. The business’s 50-day moving average price is $65.92 and its 200 day moving average price is $71.57. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.83 and a quick ratio of 0.80.

Allegiant Travel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.60 per share. The ex-dividend date is Tuesday, May 14th. This represents a $2.40 annualized dividend and a yield of 4.42%. Allegiant Travel’s dividend payout ratio is 37.97%.

Analyst Upgrades and Downgrades

Several research analysts have commented on ALGT shares. Raymond James dropped their price target on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 6th. TD Cowen boosted their target price on shares of Allegiant Travel from $82.00 to $85.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 6th. Susquehanna reduced their price target on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. 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. Finally, UBS Group started coverage on Allegiant Travel in a research report on Wednesday, March 20th. They set a “sell” rating and a $58.00 target price on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $89.75.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 2,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $79.10, for a total value of $158,200.00. Following the transaction, the director now owns 8,490 shares of the company’s stock, valued at $671,559. The transaction was disclosed in a legal filing with the SEC, 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.