Allegiant Travel to Post Q3 2019 Earnings of $1.74 Per Share, Imperial Capital Forecasts (ALGT)

Allegiant Travel (NASDAQ:ALGT) – Imperial Capital reduced their Q3 2019 earnings per share (EPS) estimates for Allegiant Travel in a note issued to investors on Friday, April 26th. Imperial Capital analyst M. Derchin now expects that the transportation company will post earnings of $1.74 per share for the quarter, down from their prior forecast of $1.80. Imperial Capital has a “Outperform” rating and a $180.00 price objective on the stock.

A number of other brokerages have also commented on ALGT. BidaskClub raised shares of Allegiant Travel from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Vertical Research assumed coverage on shares of Allegiant Travel in a report on Monday, February 4th. They set a “buy” rating and a $165.00 price objective on the stock. ValuEngine raised shares of Allegiant Travel from a “strong sell” rating to a “sell” rating in a report on Tuesday, April 9th. TheStreet raised shares of Allegiant Travel from a “c+” rating to a “b-” rating in a report on Friday, February 8th. Finally, Zacks Investment Research downgraded shares of Allegiant Travel from a “buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $153.08.

Shares of NASDAQ:ALGT opened at $140.97 on Monday. Allegiant Travel has a 12 month low of $98.18 and a 12 month high of $165.00. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.93 and a current ratio of 0.96. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 14.10 and a beta of 0.87.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $3.98 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.10. Allegiant Travel had a net margin of 9.67% and a return on equity of 25.85%. The firm had revenue of $451.60 million for the quarter, compared to analyst estimates of $452.24 million. During the same quarter in the prior year, the firm earned $3.42 EPS. The company’s revenue was up 6.2% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $2.80 dividend on an annualized basis and a yield of 1.99%. Allegiant Travel’s payout ratio is presently 28.00%.

In related news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $124.50, for a total value of $124,500.00. Following the sale, the director now directly owns 2,000 shares in the company, valued at approximately $249,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Maurice J. Gallagher, Jr. sold 9,737 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $128.05, for a total transaction of $1,246,822.85. Following the completion of the sale, the chief executive officer now owns 2,987,079 shares in the company, valued at $382,495,465.95. The disclosure for this sale can be found here. Corporate insiders own 20.80% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Allegiant Travel by 0.5% in the 4th quarter. BlackRock Inc. now owns 1,827,451 shares of the transportation company’s stock valued at $183,146,000 after acquiring an additional 9,863 shares during the period. Vanguard Group Inc raised its position in shares of Allegiant Travel by 2.6% in the 3rd quarter. Vanguard Group Inc now owns 1,273,151 shares of the transportation company’s stock valued at $161,435,000 after acquiring an additional 32,199 shares during the period. Vanguard Group Inc. raised its position in shares of Allegiant Travel by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,273,151 shares of the transportation company’s stock valued at $161,435,000 after acquiring an additional 32,199 shares during the period. Neuberger Berman Group LLC raised its position in shares of Allegiant Travel by 1.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 683,606 shares of the transportation company’s stock valued at $86,681,000 after acquiring an additional 8,896 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its position in shares of Allegiant Travel by 14.7% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 597,208 shares of the transportation company’s stock valued at $59,852,000 after acquiring an additional 76,703 shares during the period. Institutional investors and hedge funds own 80.44% 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 15, 2019, it operated a fleet of 79 Airbus A320 series aircraft.

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

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