Analysts Expect Allegiant Travel (NASDAQ:ALGT) Will Post Earnings of -$1.02 Per Share

Equities analysts predict that Allegiant Travel (NASDAQ:ALGT) will report ($1.02) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Allegiant Travel’s earnings, with the highest EPS estimate coming in at $0.03 and the lowest estimate coming in at ($2.30). Allegiant Travel posted earnings per share of $2.05 during the same quarter last year, which would suggest a negative year-over-year growth rate of 149.8%. The company is expected to announce its next quarterly earnings report on Tuesday, May 11th.

According to Zacks, analysts expect that Allegiant Travel will report full-year earnings of $4.62 per share for the current year, with EPS estimates ranging from $1.50 to $7.85. For the next year, analysts anticipate that the firm will report earnings of $14.60 per share, with EPS estimates ranging from $10.52 to $16.57. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Allegiant Travel.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Tuesday, February 2nd. The transportation company reported ($1.12) EPS for the quarter, topping analysts’ consensus estimates of ($2.44) by $1.32. The firm had revenue of $246.56 million for the quarter, compared to the consensus estimate of $245.48 million. Allegiant Travel had a negative return on equity of 8.83% and a negative net margin of 7.86%. The company’s revenue was down 46.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.72 earnings per share.

A number of equities research analysts have recently issued reports on the company. Raymond James upped their price target on Allegiant Travel from $215.00 to $230.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 4th. Bank of America lowered Allegiant Travel from a “buy” rating to a “neutral” rating in a research report on Friday, January 8th. Deutsche Bank Aktiengesellschaft upgraded Allegiant Travel from a “hold” rating to a “buy” rating and increased their price objective for the stock from $180.00 to $250.00 in a research report on Thursday, February 4th. Cowen upgraded Allegiant Travel from a “market perform” rating to an “outperform” rating and set a $214.00 price target for the company in a research report on Monday, January 11th. Finally, Morgan Stanley raised their price target on Allegiant Travel from $175.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, December 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $167.00.

In other news, COO Scott Sheldon sold 14,624 shares of the stock in a transaction that occurred on Tuesday, February 9th. The shares were sold at an average price of $216.52, for a total value of $3,166,388.48. Also, CEO Maurice J. Gallagher, Jr. sold 45,386 shares of the stock in a transaction that occurred on Friday, November 20th. The shares were sold at an average price of $155.25, for a total transaction of $7,046,176.50. Following the completion of the transaction, the chief executive officer now owns 2,367,671 shares of the company’s stock, valued at $367,580,922.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,783 shares of company stock worth $11,198,387. Company insiders own 19.60% of the company’s stock.

Large investors have recently modified their holdings of the stock. Commerce Bank lifted its position in shares of Allegiant Travel by 3.6% in the 3rd quarter. Commerce Bank now owns 2,946 shares of the transportation company’s stock valued at $353,000 after acquiring an additional 101 shares in the last quarter. Aperio Group LLC lifted its position in Allegiant Travel by 2.0% in the 4th quarter. Aperio Group LLC now owns 7,348 shares of the transportation company’s stock worth $1,391,000 after buying an additional 142 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Allegiant Travel by 2.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 7,732 shares of the transportation company’s stock valued at $1,463,000 after purchasing an additional 153 shares in the last quarter. Comerica Bank raised its holdings in shares of Allegiant Travel by 1.2% during the 4th quarter. Comerica Bank now owns 13,777 shares of the transportation company’s stock valued at $2,637,000 after purchasing an additional 162 shares in the last quarter. Finally, Inspire Advisors LLC bought a new position in shares of Allegiant Travel during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 86.10% of the company’s stock.

Shares of Allegiant Travel stock traded up $8.23 during mid-day trading on Wednesday, reaching $223.68. 96,078 shares of the stock traded hands, compared to its average volume of 126,239. The business has a 50-day moving average of $194.14 and a 200 day moving average of $154.73. Allegiant Travel has a fifty-two week low of $60.06 and a fifty-two week high of $223.98. The stock has a market capitalization of $3.67 billion, a PE ratio of -37.09 and a beta of 1.71. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 1.99.

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 14, 2020, it operated a fleet of 94 Airbus A320 series aircraft.

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