Q1 2024 EPS Estimates for Allegiant Travel Reduced by Seaport Res Ptn (NASDAQ:ALGT)

Allegiant Travel (NASDAQ:ALGT) – Analysts at Seaport Res Ptn dropped their Q1 2024 earnings per share estimates for Allegiant Travel in a report released on Monday, April 1st. Seaport Res Ptn analyst D. Mckenzie now anticipates that the transportation company will post earnings per share of $0.55 for the quarter, down from their prior estimate of $1.35. The consensus estimate for Allegiant Travel’s current full-year earnings is $6.75 per share. Seaport Res Ptn also issued estimates for Allegiant Travel’s Q2 2024 earnings at $2.00 EPS, Q3 2024 earnings at ($0.15) EPS, Q4 2024 earnings at $2.75 EPS, FY2024 earnings at $5.15 EPS and FY2025 earnings at $9.75 EPS.

A number of other equities research analysts also recently weighed in on ALGT. Susquehanna dropped their target price on Allegiant Travel from $80.00 to $76.00 and set a “neutral” rating for the company in a report on Friday, February 9th. TD Cowen boosted their price target on Allegiant Travel from $82.00 to $85.00 and gave the company a “market perform” rating in a research note on Tuesday, February 6th. UBS Group assumed coverage on Allegiant Travel in a research note on Wednesday, March 20th. They issued a “sell” rating and a $58.00 price target for the company. Finally, Raymond James dropped their price target on Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Allegiant Travel currently has an average rating of “Hold” and a consensus price target of $91.75.

Allegiant Travel Stock Down 2.2 %

ALGT opened at $65.90 on Thursday. Allegiant Travel has a fifty-two week low of $54.87 and a fifty-two week high of $130.93. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.83. The company has a market capitalization of $1.21 billion, a P/E ratio of 10.43, a P/E/G ratio of 0.80 and a beta of 1.58. The stock has a fifty day moving average of $74.97 and a 200-day moving average of $74.28.

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. Allegiant Travel had a return on equity of 3.80% and a net margin of 4.54%. The company had revenue of $611.00 million during the quarter, compared to the consensus estimate of $596.42 million. During the same quarter last year, the firm earned $3.17 earnings per share. The company’s revenue was down .1% on a year-over-year basis.

Allegiant Travel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 15th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Wednesday, February 14th. Allegiant Travel’s dividend payout ratio is presently 37.97%.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 2,000 shares of Allegiant Travel 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 transaction, the director now owns 8,490 shares in the company, valued at $671,559. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 17.50% of the company’s stock.

Institutional Trading of Allegiant Travel

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in shares of Allegiant Travel during the fourth quarter worth about $28,000. Lazard Asset Management LLC bought a new stake in shares of Allegiant Travel during the third quarter worth about $31,000. Castleview Partners LLC bought a new stake in shares of Allegiant Travel during the second quarter worth about $44,000. US Bancorp DE grew its holdings in shares of Allegiant Travel by 69.8% during the fourth quarter. US Bancorp DE now owns 574 shares of the transportation company’s stock worth $47,000 after purchasing an additional 236 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of Allegiant Travel by 32.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 819 shares of the transportation company’s stock worth $56,000 after purchasing an additional 200 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors.

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.