Q3 2017 EPS Estimates for Allegiant Travel Company (ALGT) Decreased by Imperial Capital
Allegiant Travel Company (NASDAQ:ALGT) – Research analysts at Imperial Capital lowered their Q3 2017 earnings estimates for shares of Allegiant Travel in a report released on Tuesday. Imperial Capital analyst M. Derchin now forecasts that the transportation company will post earnings per share of $1.56 for the quarter, down from their prior 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.
Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.94 EPS for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $400.60 million during the quarter, compared to the consensus estimate of $399.58 million. During the same period in the previous year, the firm earned $3.68 EPS. The business’s revenue was up 16.1% on a year-over-year basis.
A number of other equities analysts have also issued reports on the company. BidaskClub lowered Allegiant Travel from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research lowered Allegiant Travel from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Deutsche Bank AG restated a “hold” rating and issued a $130.00 target price (down previously from $153.00) on shares of Allegiant Travel in a research note on Thursday, July 27th. Cowen and Company restated a “market perform” rating and issued a $150.00 target price (down previously from $157.00) on shares of Allegiant Travel in a research note on Thursday, July 27th. Finally, ValuEngine upgraded Allegiant Travel from a “hold” rating to a “buy” rating in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. Allegiant Travel has an average rating of “Hold” and an average target price of $158.58.
Shares of Allegiant Travel (NASDAQ ALGT) opened at 125.75 on Thursday. The company has a 50 day moving average price of $137.69 and a 200 day moving average price of $151.93. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 11.80 and a beta of -0.05. Allegiant Travel has a one year low of $125.15 and a one year high of $182.25.
Allegiant Travel announced that its board has approved a share buyback plan on Wednesday, July 26th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the transportation company to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Wednesday, August 16th. Allegiant Travel’s dividend payout ratio is currently 26.24%.
In other Allegiant Travel news, SVP Gregory Clark Anderson sold 1,500 shares of the stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $142.08, for a total transaction of $213,120.00. Following the sale, the senior vice president now directly owns 15,054 shares of the company’s stock, valued at approximately $2,138,872.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 21.00% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of ALGT. Norges Bank acquired a new stake in Allegiant Travel during the fourth quarter worth approximately $11,706,000. BlackRock Inc. boosted its stake in Allegiant Travel by 141,260.2% in the first quarter. BlackRock Inc. now owns 1,546,481 shares of the transportation company’s stock worth $247,824,000 after buying an additional 1,545,387 shares during the period. GHP Investment Advisors Inc. boosted its stake in Allegiant Travel by 20.7% in the first quarter. GHP Investment Advisors Inc. now owns 6,909 shares of the transportation company’s stock worth $1,107,000 after buying an additional 1,183 shares during the period. FMR LLC boosted its stake in Allegiant Travel by 0.6% in the first quarter. FMR LLC now owns 932,540 shares of the transportation company’s stock worth $149,439,000 after buying an additional 6,000 shares during the period. Finally, Americafirst Capital Management LLC acquired a new stake in Allegiant Travel during the first quarter worth approximately $180,000. Hedge funds and other institutional investors own 85.77% of the company’s stock.
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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