Allegiant Travel Company (ALGT) Scheduled to Post Earnings on Wednesday
Allegiant Travel Company (NASDAQ:ALGT) is set to post its quarterly earnings results after the market closes on Wednesday, October 25th. Analysts expect Allegiant Travel to post earnings of $1.91 per share for the quarter.
Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.94 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.96 by ($0.02). The company had revenue of $400.60 million for the quarter, compared to analysts’ expectations of $399.58 million. Allegiant Travel had a net margin of 12.23% and a return on equity of 37.66%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.68 earnings per share. On average, analysts expect Allegiant Travel to post $8.96 EPS for the current fiscal year and $10.61 EPS for the next fiscal year.
Allegiant Travel Company (NASDAQ ALGT) opened at 141.50 on Wednesday. The firm’s 50-day moving average is $126.74 and its 200 day moving average is $137.76. The stock has a market capitalization of $2.29 billion, a P/E ratio of 13.27 and a beta of 0.02. Allegiant Travel Company has a 12-month low of $111.54 and a 12-month high of $182.25.
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 purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
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A number of research firms have recently weighed in on ALGT. ValuEngine raised shares of Allegiant Travel from a “hold” rating to a “buy” rating in a research note on Thursday, July 20th. Cowen and Company reiterated a “market perform” rating and issued a $150.00 price objective (down from $157.00) on shares of Allegiant Travel in a research report on Thursday, July 27th. Zacks Investment Research upgraded shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $159.00 price objective on the stock in a research report on Monday, July 17th. Sidoti reiterated a “buy” rating and issued a $186.00 price objective (up from $183.00) on shares of Allegiant Travel in a research report on Wednesday, July 12th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $141.00 price objective (down from $144.00) on shares of Allegiant Travel in a research report on Monday, July 10th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $144.17.
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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