Seaport Res Ptn Equities Analysts Lower Earnings Estimates for Allegiant Travel (NASDAQ:ALGT)

Allegiant Travel (NASDAQ:ALGTFree Report) – Stock analysts at Seaport Res Ptn reduced their Q1 2024 earnings per share estimates for shares of Allegiant Travel in a report issued on Tuesday, February 6th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the transportation company will post earnings per share of $1.35 for the quarter, down from their prior estimate of $1.65. The consensus estimate for Allegiant Travel’s current full-year earnings is $8.13 per share. Seaport Res Ptn also issued estimates for Allegiant Travel’s Q2 2024 earnings at $3.00 EPS, Q3 2024 earnings at $0.75 EPS and Q4 2024 earnings at $2.80 EPS.

A number of other equities research analysts also recently weighed in on ALGT. Raymond James dropped their price objective on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday. TD Cowen boosted their price objective on shares of Allegiant Travel from $82.00 to $85.00 and gave the stock a “market perform” rating in a research note on Tuesday. StockNews.com downgraded shares of Allegiant Travel from a “hold” rating to a “sell” rating in a research note on Monday, November 6th. Barclays reduced their price target on Allegiant Travel from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, November 6th. Finally, Morgan Stanley lowered their price objective on Allegiant Travel from $100.00 to $95.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $97.14.

Get Our Latest Stock Analysis on ALGT

Allegiant Travel Stock Down 2.9 %

Shares of NASDAQ ALGT opened at $76.26 on Thursday. Allegiant Travel has a 12-month low of $54.87 and a 12-month high of $130.93. The stock’s fifty day simple moving average is $78.31 and its two-hundred day simple moving average is $81.68. The stock has a market capitalization of $1.40 billion, a PE ratio of 12.07 and a beta of 1.61. The company has a current ratio of 1.09, a quick ratio of 1.05 and a debt-to-equity ratio of 1.50.

Allegiant Travel (NASDAQ:ALGTGet Free Report) last announced its quarterly earnings data on Monday, February 5th. The transportation company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.52. The company had revenue of $611.00 million for the quarter, compared to analysts’ expectations of $596.42 million. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. Allegiant Travel’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.17 earnings per share.

Allegiant Travel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 15th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Wednesday, February 14th. Allegiant Travel’s dividend payout ratio (DPR) is 37.97%.

Hedge Funds Weigh In On Allegiant Travel

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its holdings in Allegiant Travel by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock valued at $65,972,000 after purchasing an additional 98,662 shares during the last quarter. Oldfield Partners LLP lifted its holdings in shares of Allegiant Travel by 3.2% in the 4th quarter. Oldfield Partners LLP now owns 32,200 shares of the transportation company’s stock valued at $2,660,000 after buying an additional 1,000 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Allegiant Travel by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 123,577 shares of the transportation company’s stock worth $10,209,000 after buying an additional 2,168 shares during the last quarter. Summit Global Investments grew its holdings in Allegiant Travel by 17.5% during the fourth quarter. Summit Global Investments now owns 15,588 shares of the transportation company’s stock worth $1,288,000 after acquiring an additional 2,320 shares during the period. Finally, Victory Capital Management Inc. raised its position in Allegiant Travel by 22.6% during the fourth quarter. Victory Capital Management Inc. now owns 13,977 shares of the transportation company’s stock valued at $1,155,000 after acquiring an additional 2,579 shares in the last quarter. Institutional investors and hedge funds own 81.23% of the company’s stock.

About Allegiant Travel

(Get Free Report)

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, 2023, it operated a fleet of 122 Airbus A320 series aircraft.

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

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