Allegiant Travel (ALGT) Set to Announce Quarterly Earnings on Wednesday

Allegiant Travel (NASDAQ:ALGT) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, July 31st. Analysts expect the company to announce earnings of $0.88 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results 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. The company had revenue of $656.70 million for the quarter, compared to analyst estimates of $645.23 million. Allegiant Travel had a net margin of 2.26% and a return on equity of 0.50%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.04 EPS. On average, analysts expect Allegiant Travel to post $3 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Allegiant Travel Price Performance

NASDAQ:ALGT opened at $51.58 on Tuesday. The firm has a market cap of $940.30 million, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 2.19 and a beta of 1.66. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.35. The company’s 50-day moving average is $50.59 and its two-hundred day moving average is $62.60. Allegiant Travel has a 12-month low of $43.91 and a 12-month high of $128.27.

Allegiant Travel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were issued a $0.60 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $2.40 dividend on an annualized basis and a yield of 4.65%. Allegiant Travel’s dividend payout ratio (DPR) is 75.95%.

Insider Buying and Selling

In related news, EVP Robert Paul Wilson III sold 750 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $53.00, for a total transaction of $39,750.00. Following the completion of the sale, the executive vice president now owns 74,948 shares of the company’s stock, valued at approximately $3,972,244. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, COO Keny Frank Wilper sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $51.00, for a total transaction of $51,000.00. Following the completion of the sale, the chief operating officer now owns 9,422 shares of the company’s stock, valued at $480,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Paul Wilson III sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $53.00, for a total transaction of $39,750.00. Following the sale, the executive vice president now directly owns 74,948 shares of the company’s stock, valued at approximately $3,972,244. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,037 shares of company stock valued at $1,395,948. 17.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ALGT has been the topic of several recent analyst reports. TD Cowen cut their price objective on shares of Allegiant Travel from $60.00 to $39.00 and set a “hold” rating on the stock in a report on Wednesday, July 17th. Barclays cut their price objective on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Susquehanna cut their price objective on shares of Allegiant Travel from $60.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lowered shares of Allegiant Travel from a “buy” rating to a “hold” rating and cut their price objective for the stock from $75.00 to $53.00 in a report on Monday, July 8th. Finally, Evercore ISI cut their price objective on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating on the stock in a report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $62.13.

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.