Allegiant Travel (NASDAQ:ALGT) Announces Earnings Results

Allegiant Travel (NASDAQ:ALGT) issued its 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. The firm had revenue of $656.70 million for 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% on a year-over-year basis. During the same period in the previous year, the company posted $3.04 earnings per share.

Allegiant Travel Stock Performance

Allegiant Travel stock opened at $53.78 on Friday. The firm has a fifty day simple moving average of $65.13 and a two-hundred day simple moving average of $71.32. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 1.37. Allegiant Travel has a twelve month low of $51.13 and a twelve month high of $130.93. The company has a market capitalization of $980.41 million, a PE ratio of 8.51, a P/E/G ratio of 1.16 and a beta of 1.63.

Allegiant Travel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.46%. Allegiant Travel’s dividend payout ratio (DPR) is 37.97%.

Analyst Ratings Changes

A number of brokerages have weighed in on ALGT. Susquehanna cut their target price on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, April 9th. Raymond James decreased their price objective on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 6th. Barclays cut their target price on Allegiant Travel from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday. TD Cowen lifted their target price on Allegiant Travel from $82.00 to $85.00 and gave the company a “market perform” rating in a report on Tuesday, February 6th. Finally, UBS Group began coverage on shares of Allegiant Travel in a report on Wednesday, March 20th. They issued a “sell” rating and a $58.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $89.13.

Insider Activity

In other news, Director Gary Ellmer sold 2,000 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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.