Allegiant Travel (ALGT) To Go Ex-Dividend on May 14th

Allegiant Travel (NASDAQ:ALGT) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders of record on Wednesday, May 15th will be given a dividend of 0.60 per share by the transportation company on Monday, June 3rd. This represents a $2.40 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Tuesday, May 14th.

Allegiant Travel has increased its dividend by an average of 19.7% per year over the last three years. Allegiant Travel has a payout ratio of 30.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Allegiant Travel to earn $8.54 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 28.1%.

Allegiant Travel Stock Down 1.5 %

Shares of NASDAQ ALGT opened at $53.06 on Thursday. 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 stock has a market capitalization of $967.28 million, a PE ratio of 8.40, a P/E/G ratio of 1.16 and a beta of 1.63. The firm has a fifty day moving average of $65.51 and a 200-day moving average of $71.44. Allegiant Travel has a 52-week low of $51.13 and a 52-week high of $130.93.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Tuesday, May 7th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. Allegiant Travel had a net margin of 4.54% and a return on equity of 3.80%. The firm had revenue of $656.70 million during the quarter, compared to the consensus estimate of $645.23 million. During the same quarter in the prior year, the company earned $3.04 EPS. The company’s revenue was up 1.1% on a year-over-year basis. On average, analysts anticipate that Allegiant Travel will post 4.61 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group began coverage on shares of Allegiant Travel in a research note on Wednesday, March 20th. They set a “sell” rating and a $58.00 price objective on the stock. TD Cowen increased their price target 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. Raymond James lowered their price objective on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th. Susquehanna decreased their target price on Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, April 9th. Finally, Barclays dropped their target price 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. 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, the company has an average rating of “Hold” and an average price target of $89.75.

Insider Transactions at Allegiant Travel

In related news, Director Gary Ellmer sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 8,490 shares of the company’s stock, valued at approximately $671,559. The sale was disclosed in a document filed with the SEC, which is available at this link. 17.50% of the stock is currently owned by insiders.

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.