Q1 2018 EPS Estimates for Allegiant Travel Lowered by Imperial Capital (ALGT)

Allegiant Travel (NASDAQ:ALGT) – Equities researchers at Imperial Capital cut their Q1 2018 earnings per share (EPS) estimates for shares of Allegiant Travel in a report issued on Thursday. Imperial Capital analyst M. Derchin now anticipates that the transportation company will post earnings of $3.04 per share for the quarter, down from their previous forecast of $3.06. Imperial Capital has a “In-Line” rating and a $165.00 price objective on the stock. Imperial Capital also issued estimates for Allegiant Travel’s Q2 2018 earnings at $3.29 EPS, Q3 2018 earnings at $1.64 EPS and FY2019 earnings at $13.10 EPS.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Wednesday, January 31st. The transportation company reported $2.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.93. Allegiant Travel had a return on equity of 32.60% and a net margin of 12.96%. The firm had revenue of $378.56 million during the quarter, compared to analyst estimates of $377.25 million. During the same period in the previous year, the company earned $2.48 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research upgraded Allegiant Travel from a “hold” rating to a “buy” rating and set a $178.00 target price for the company in a report on Tuesday. Morgan Stanley reduced their target price on Allegiant Travel from $158.00 to $157.00 and set an “equal weight” rating for the company in a report on Monday. Wolfe Research upgraded Allegiant Travel from a “market perform” rating to an “outperform” rating in a report on Thursday, February 1st. Stifel Nicolaus boosted their target price on Allegiant Travel from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, BidaskClub lowered Allegiant Travel from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $163.27.

Shares of Allegiant Travel (ALGT) opened at $159.90 on Monday. Allegiant Travel has a 1-year low of $111.54 and a 1-year high of $178.20. The company has a quick ratio of 1.01, a current ratio of 1.05 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $2,548.35, a P/E ratio of 16.61, a P/E/G ratio of 0.50 and a beta of 0.17.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.75%. Allegiant Travel’s dividend payout ratio (DPR) is presently 23.41%.

In other news, CEO Maurice J. Gallagher, Jr. sold 71,678 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $165.54, for a total transaction of $11,865,576.12. Following the completion of the transaction, the chief executive officer now directly owns 3,071,196 shares in the company, valued at $508,405,785.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $148.85, for a total value of $148,850.00. Following the transaction, the director now owns 2,120 shares of the company’s stock, valued at $315,562. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 288,696 shares of company stock valued at $47,742,513. Corporate insiders own 22.00% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. D.A. Davidson & CO. lifted its holdings in shares of Allegiant Travel by 2.0% during the second quarter. D.A. Davidson & CO. now owns 1,176 shares of the transportation company’s stock worth $159,000 after buying an additional 23 shares during the last quarter. Amalgamated Bank raised its stake in shares of Allegiant Travel by 4.4% in the second quarter. Amalgamated Bank now owns 1,823 shares of the transportation company’s stock valued at $247,000 after purchasing an additional 77 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Allegiant Travel by 6.4% in the fourth quarter. Victory Capital Management Inc. now owns 5,605 shares of the transportation company’s stock valued at $867,000 after purchasing an additional 338 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Allegiant Travel by 47.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,258 shares of the transportation company’s stock valued at $166,000 after purchasing an additional 402 shares in the last quarter. Finally, American International Group Inc. raised its stake in shares of Allegiant Travel by 4.9% in the third quarter. American International Group Inc. now owns 10,306 shares of the transportation company’s stock valued at $1,357,000 after purchasing an additional 483 shares in the last quarter. Institutional investors own 85.90% of the company’s stock.

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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.

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

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