Equities Analysts Issue Forecasts for Allegiant Travel’s Q4 2024 Earnings (NASDAQ:ALGT)

Allegiant Travel (NASDAQ:ALGT) – Seaport Res Ptn reduced their Q4 2024 earnings per share estimates for Allegiant Travel in a note issued to investors on Monday, April 8th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the transportation company will post earnings per share of $2.50 for the quarter, down from their prior estimate of $2.75. The consensus estimate for Allegiant Travel’s current full-year earnings is $6.00 per share.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Monday, February 5th. The transportation company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.52. The company had revenue of $611.00 million during the quarter, compared to analyst estimates of $596.42 million. Allegiant Travel had a net margin of 4.54% and a return on equity of 3.80%. Allegiant Travel’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $3.17 earnings per share.

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

Allegiant Travel Stock Performance

Shares of ALGT opened at $62.15 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 1.37. The business’s 50 day moving average price is $73.46 and its 200-day moving average price is $73.79. Allegiant Travel has a 52 week low of $54.87 and a 52 week high of $130.93. The stock has a market cap of $1.14 billion, a P/E ratio of 9.83, a P/E/G ratio of 0.88 and a beta of 1.58.

Allegiant Travel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 15th were paid a $0.60 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $2.40 annualized dividend and a yield of 3.86%. Allegiant Travel’s dividend payout ratio (DPR) is 37.97%.

Insider Buying and Selling at Allegiant Travel

In other 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 transaction of $158,200.00. Following the completion of the sale, the director now directly owns 8,490 shares in the company, valued at $671,559. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 17.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Guggenheim Capital LLC raised its holdings in shares of Allegiant Travel by 5.3% during the first quarter. Guggenheim Capital LLC now owns 1,528 shares of the transportation company’s stock worth $249,000 after purchasing an additional 77 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Allegiant Travel by 0.3% during the first quarter. Sei Investments Co. now owns 28,155 shares of the transportation company’s stock worth $4,588,000 after purchasing an additional 92 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Allegiant Travel by 1.8% during the second quarter. The Manufacturers Life Insurance Company now owns 6,407 shares of the transportation company’s stock worth $809,000 after purchasing an additional 113 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Allegiant Travel by 9.9% during the second quarter. Ameritas Investment Partners Inc. now owns 1,306 shares of the transportation company’s stock worth $165,000 after purchasing an additional 118 shares during the last quarter. Finally, Vident Investment Advisory LLC raised its holdings in shares of Allegiant Travel by 3.3% during the fourth quarter. Vident Investment Advisory LLC now owns 3,779 shares of the transportation company’s stock worth $257,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

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.