Allegiant Travel Company (NASDAQ:ALGT) Announces $0.70 Quarterly Dividend
Allegiant Travel Company (NASDAQ:ALGT) announced a quarterly dividend on Monday, August 7th, NASDAQ reports. Shareholders of record on Friday, August 18th will be paid a dividend of 0.70 per share by the transportation company on Tuesday, September 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, August 16th.
Shares of Allegiant Travel (ALGT) opened at 130.40 on Tuesday. The firm’s 50 day moving average is $140.24 and its 200-day moving average is $153.67. The firm has a market capitalization of $2.11 billion, a PE ratio of 12.23 and a beta of -0.05. Allegiant Travel has a one year low of $121.70 and a one year high of $182.25.
Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.96 by $0.02. Allegiant Travel had a return on equity of 37.66% and a net margin of 12.23%. The business had revenue of $400.60 million for the quarter, compared to analyst estimates of $399.58 million. During the same quarter in the prior year, the firm earned $3.68 EPS. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. On average, equities research analysts predict that Allegiant Travel will post $9.39 earnings per share for the current fiscal year.
In related news, SVP Gregory Clark Anderson sold 1,500 shares of Allegiant Travel stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $142.08, for a total value of $213,120.00. Following the completion of the transaction, the senior vice president now directly owns 15,054 shares of the company’s stock, valued at $2,138,872.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 22.00% of the company’s stock.
A number of research firms have weighed in on ALGT. Imperial Capital reiterated an “in-line” rating and set a $155.00 price target (down previously from $170.00) on shares of Allegiant Travel in a research note on Thursday, April 27th. Morgan Stanley reissued an “equal weight” rating and set a $141.00 price objective (down from $144.00) on shares of Allegiant Travel in a report on Monday, July 10th. Sidoti reissued a “buy” rating and set a $186.00 price objective (up from $183.00) on shares of Allegiant Travel in a report on Wednesday, July 12th. BidaskClub cut Allegiant Travel from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, Deutsche Bank AG cut Allegiant Travel from a “buy” rating to a “hold” rating and cut their price objective for the company from $190.00 to $153.00 in a report on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $158.58.
Allegiant Travel announced that its board has authorized a share buyback program on Wednesday, July 26th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the transportation company to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
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About Allegiant Travel
Allegiant Travel Company is a leisure travel company. The Company is focused on providing travel services and products to residents of under-served cities in the United States. It also provides air transportation under fixed fee flying arrangements. The Company’s products and services include scheduled service air transportation, air-related ancillary products and services, third-party ancillary products and services and fixed fee contract air transportation.
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