Q3 2024 Earnings Estimate for Allegiant Travel Issued By Zacks Research (NASDAQ:ALGT)

Allegiant Travel (NASDAQ:ALGT) – Investment analysts at Zacks Research dropped their Q3 2024 earnings per share estimates for Allegiant Travel in a research report issued to clients and investors on Thursday, July 25th. Zacks Research analyst M. Basu now forecasts that the transportation company will earn $0.32 per share for the quarter, down from their prior forecast of $0.46. The consensus estimate for Allegiant Travel’s current full-year earnings is $3.08 per share. Zacks Research also issued estimates for Allegiant Travel’s Q4 2024 earnings at $1.19 EPS, FY2024 earnings at $2.81 EPS, Q2 2025 earnings at $1.29 EPS, Q3 2025 earnings at $1.08 EPS, Q4 2025 earnings at $2.03 EPS, FY2025 earnings at $5.91 EPS, Q1 2026 earnings at $1.95 EPS and Q2 2026 earnings at $1.90 EPS.

Several other brokerages also recently weighed in on ALGT. Evercore ISI reduced their price target on Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a report on Monday, July 15th. TD Cowen reduced their price target on Allegiant Travel from $60.00 to $39.00 and set a “hold” rating on the stock in a report on Wednesday, July 17th. Susquehanna reduced their price target on Allegiant Travel from $60.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Morgan Stanley reduced their price target on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. Finally, Barclays reduced their price target on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $62.13.

Allegiant Travel Trading Up 6.4 %

Shares of ALGT stock opened at $54.90 on Monday. Allegiant Travel has a 1 year low of $43.91 and a 1 year high of $128.27. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.76 and a quick ratio of 0.74. The stock’s 50 day simple moving average is $50.71 and its two-hundred day simple moving average is $62.45. The company has a market cap of $1.00 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 2.19 and a beta of 1.66.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. Allegiant Travel had a return on equity of 0.50% and a net margin of 2.26%. The business had revenue of $656.70 million for the quarter, compared to the consensus estimate of $645.23 million. During the same period in the prior year, the business posted $3.04 earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year.

Allegiant Travel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.60 per share. The ex-dividend date was Tuesday, May 14th. This represents a $2.40 annualized dividend and a yield of 4.37%. Allegiant Travel’s payout ratio is currently 75.95%.

Insiders Place Their Bets

In other Allegiant Travel news, EVP Robert Paul Wilson III sold 4,600 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $54.00, for a total transaction of $248,400.00. Following the transaction, the executive vice president now directly owns 75,698 shares in the company, valued at approximately $4,087,692. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Allegiant Travel news, COO Keny Frank Wilper sold 1,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $51.00, for a total transaction of $51,000.00. Following the sale, the chief operating officer now owns 9,422 shares of the company’s stock, valued at approximately $480,522. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Paul Wilson III sold 4,600 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $54.00, for a total value of $248,400.00. Following the sale, the executive vice president now directly owns 75,698 shares in the company, valued at approximately $4,087,692. The disclosure for this sale can be found here. Insiders have sold 26,037 shares of company stock worth $1,395,948 in the last ninety days. 17.50% of the stock is owned by company insiders.

Institutional Trading of Allegiant Travel

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Innealta Capital LLC acquired a new stake in shares of Allegiant Travel in the 2nd quarter worth $34,000. Bank of New York Mellon Corp raised its stake in Allegiant Travel by 7.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 215,533 shares of the transportation company’s stock worth $10,826,000 after acquiring an additional 15,469 shares during the last quarter. JB Capital LLC raised its stake in Allegiant Travel by 48.0% in the 2nd quarter. JB Capital LLC now owns 6,188 shares of the transportation company’s stock worth $311,000 after acquiring an additional 2,008 shares during the last quarter. SeaCrest Wealth Management LLC raised its stake in Allegiant Travel by 10.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,560 shares of the transportation company’s stock worth $279,000 after acquiring an additional 535 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Allegiant Travel in the 2nd quarter worth $285,000. 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.