Q3 2017 EPS Estimates for Allegiant Travel Company (NASDAQ:ALGT) Decreased by Imperial Capital
Allegiant Travel Company (NASDAQ:ALGT) – Research analysts at Imperial Capital dropped their Q3 2017 earnings per share estimates for shares of Allegiant Travel in a report issued on Tuesday. Imperial Capital analyst M. Derchin now forecasts that the transportation company will earn $1.56 per share for the quarter, down from their previous estimate of $1.87. Imperial Capital currently has a “In-Line” rating and a $148.00 target price on the stock. Imperial Capital also issued estimates for Allegiant Travel’s FY2017 earnings at $9.15 EPS and FY2018 earnings at $9.40 EPS.
Several other research firms have also commented on ALGT. Bank of America Corporation lowered shares of Allegiant Travel from a “buy” rating to a “neutral” rating and lowered their price target for the company from $205.00 to $175.00 in a research report on Wednesday, April 26th. Cowen and Company lowered their price target on shares of Allegiant Travel from $162.00 to $157.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 26th. Deutsche Bank AG lowered shares of Allegiant Travel from a “buy” rating to a “hold” rating and lowered their price target for the company from $190.00 to $153.00 in a research report on Wednesday, April 26th. Stifel Nicolaus reiterated a “hold” rating and issued a $173.00 price target on shares of Allegiant Travel in a research report on Wednesday, April 19th. Finally, Zacks Investment Research lowered shares of Allegiant Travel from a “hold” rating to a “sell” rating in a research report on Friday, April 14th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. Allegiant Travel currently has an average rating of “Hold” and an average price target of $158.58.
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Shares of Allegiant Travel (NASDAQ:ALGT) opened at 125.75 on Thursday. Allegiant Travel has a 12 month low of $125.15 and a 12 month high of $182.25. The firm has a market capitalization of $2.04 billion, a P/E ratio of 11.80 and a beta of -0.05. The firm’s 50-day moving average price is $137.69 and its 200 day moving average price is $151.93.
Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.94 earnings per share for the quarter, missing the consensus estimate of $2.96 by $0.02. The company had revenue of $400.60 million for the quarter, compared to analyst estimates of $399.58 million. Allegiant Travel had a return on equity of 37.66% and a net margin of 12.23%. Allegiant Travel’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.68 earnings per share.
A number of institutional investors have recently bought and sold shares of the company. Bank of Montreal Can increased its position in Allegiant Travel by 28.9% in the second quarter. Bank of Montreal Can now owns 829 shares of the transportation company’s stock worth $112,000 after buying an additional 186 shares in the last quarter. Victory Capital Management Inc. increased its position in Allegiant Travel by 17.5% in the second quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock worth $116,000 after buying an additional 127 shares in the last quarter. Neuburgh Advisers LLC increased its position in Allegiant Travel by 10.0% in the first quarter. Neuburgh Advisers LLC now owns 748 shares of the transportation company’s stock worth $120,000 after buying an additional 68 shares in the last quarter. James Investment Research Inc. bought a new position in Allegiant Travel during the first quarter worth $140,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Allegiant Travel during the first quarter worth $146,000. 85.77% of the stock is currently owned by institutional investors.
In other Allegiant Travel news, SVP Gregory Clark Anderson sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $142.08, for a total transaction of $213,120.00. Following the transaction, the senior vice president now owns 15,054 shares of the company’s stock, valued at $2,138,872.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 21.00% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Wednesday, August 16th. Allegiant Travel’s payout ratio is 26.24%.
Allegiant Travel declared that its board has authorized a share buyback program on Wednesday, July 26th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the transportation company to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Allegiant Travel Company Profile
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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