Allegiant Travel Company (NASDAQ:ALGT) – Equities researchers at Imperial Capital reduced their FY2017 EPS estimates for Allegiant Travel in a research report issued on Monday. Imperial Capital analyst M. Derchin now forecasts that the transportation company will earn $8.50 per share for the year, down from their previous forecast of $9.15. Imperial Capital also issued estimates for Allegiant Travel’s FY2018 earnings at $8.80 EPS.

Several other research analysts have also weighed in on the stock. Cowen and Company reissued a “market perform” rating and set a $150.00 price objective (down previously from $157.00) on shares of Allegiant Travel in a research note on Thursday, July 27th. Morgan Stanley cut their price target on shares of Allegiant Travel from $139.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 17th. Sidoti reaffirmed a “buy” rating and issued a $186.00 price target (up previously from $183.00) on shares of Allegiant Travel in a research note on Wednesday, July 12th. BidaskClub downgraded shares of Allegiant Travel from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, Zacks Investment Research downgraded shares of Allegiant Travel from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. Allegiant Travel currently has an average rating of “Hold” and an average target price of $144.17.

TRADEMARK VIOLATION NOTICE: “Imperial Capital Weighs in on Allegiant Travel Company’s FY2017 Earnings (ALGT)” was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright legislation. The correct version of this report can be viewed at https://www.americanbankingnews.com/2017/10/31/imperial-capital-weighs-in-on-allegiant-travel-companys-fy2017-earnings-algt.html.

Allegiant Travel (ALGT) opened at 138.40 on Tuesday. The company has a market cap of $2.24 billion, a PE ratio of 12.98 and a beta of 0.02. The firm has a 50-day moving average of $133.14 and a 200 day moving average of $136.39. Allegiant Travel has a 52-week low of $111.54 and a 52-week high of $182.25.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Wednesday, October 25th. The transportation company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.31 by $0.08. Allegiant Travel had a net margin of 10.52% and a return on equity of 32.11%. The firm had revenue of $348.80 million during the quarter, compared to analysts’ expectations of $349.79 million. During the same quarter in the prior year, the firm earned $2.75 EPS. Allegiant Travel’s quarterly revenue was up 4.6% on a year-over-year basis.

Several institutional investors and hedge funds have recently modified their holdings of ALGT. BlackRock Inc. lifted its stake in Allegiant Travel by 141,260.2% during the 1st quarter. BlackRock Inc. now owns 1,546,481 shares of the transportation company’s stock valued at $247,824,000 after acquiring an additional 1,545,387 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Allegiant Travel by 19,391.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 404,441 shares of the transportation company’s stock valued at $53,265,000 after purchasing an additional 402,366 shares during the last quarter. Capital Research Global Investors increased its position in shares of Allegiant Travel by 33.6% during the 2nd quarter. Capital Research Global Investors now owns 547,178 shares of the transportation company’s stock valued at $74,197,000 after purchasing an additional 137,600 shares during the last quarter. FMR LLC increased its position in shares of Allegiant Travel by 8.7% during the 2nd quarter. FMR LLC now owns 1,014,073 shares of the transportation company’s stock valued at $137,508,000 after purchasing an additional 81,533 shares during the last quarter. Finally, TimesSquare Capital Management LLC increased its position in shares of Allegiant Travel by 9.4% during the 2nd quarter. TimesSquare Capital Management LLC now owns 676,292 shares of the transportation company’s stock valued at $91,705,000 after purchasing an additional 58,065 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Allegiant Travel announced that its Board of Directors has authorized a stock repurchase program on Wednesday, July 26th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the transportation company to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Wednesday, November 22nd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Tuesday, November 21st. Allegiant Travel’s dividend payout ratio is currently 30.08%.

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.

Earnings History and Estimates for Allegiant Travel (NASDAQ:ALGT)

Receive News & Ratings for Allegiant Travel Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegiant Travel Company and related companies with MarketBeat.com's FREE daily email newsletter.