Brokers Issue Forecasts for Allegiant Travel Company’s FY2017 Earnings (ALGT)

Allegiant Travel Company (NASDAQ:ALGT) – Analysts at Imperial Capital lowered their FY2017 earnings per share (EPS) estimates for Allegiant Travel Company in a note issued to investors on Tuesday. Imperial Capital analyst M. Derchin now expects that the transportation company will earn $8.75 per share for the year, down from their previous estimate of $9.40. 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 Company’s Q4 2017 earnings at $1.81 EPS and FY2018 earnings at $9.25 EPS.

Allegiant Travel Company (NASDAQ:ALGT) last posted its quarterly earnings data on Tuesday, April 25th. The transportation company reported $2.50 EPS for the quarter, missing the consensus estimate of $2.58 by $0.08. The company had revenue of $375.80 million during the quarter, compared to analysts’ expectations of $374.99 million. Allegiant Travel Company had a return on equity of 54.38% and a net margin of 16.11%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $4.29 earnings per share.

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

A number of other research analysts have also recently weighed in on ALGT. Stifel Nicolaus cut shares of Allegiant Travel Company from a “buy” rating to a “hold” rating and lifted their price objective for the company from $155.00 to $173.00 in a report on Wednesday, January 11th. Cowen and Company lifted their price objective on shares of Allegiant Travel Company from $160.00 to $162.00 and gave the company a “market perform” rating in a report on Wednesday, February 1st. Zacks Investment Research cut shares of Allegiant Travel Company from a “hold” rating to a “sell” rating in a research note on Friday, April 14th. Deutsche Bank AG cut shares of Allegiant Travel Company from a “buy” rating to a “hold” rating and cut their target price for the stock from $190.00 to $153.00 in a research note on Wednesday, April 26th. Finally, Bank of America Corp cut shares of Allegiant Travel Company from a “buy” rating to a “neutral” rating and cut their target price for the stock from $205.00 to $175.00 in a research note on Wednesday, April 26th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Allegiant Travel Company presently has a consensus rating of “Hold” and an average target price of $164.70.

Shares of Allegiant Travel Company (NASDAQ:ALGT) opened at 146.45 on Wednesday. Allegiant Travel Company has a 52 week low of $121.70 and a 52 week high of $182.25. The firm has a 50-day moving average price of $155.88 and a 200-day moving average price of $162.26. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 12.84 and a beta of -0.20.

A number of large investors have recently made changes to their positions in ALGT. Louisiana State Employees Retirement System increased its stake in shares of Allegiant Travel Company by 1.8% in the third quarter. Louisiana State Employees Retirement System now owns 5,800 shares of the transportation company’s stock valued at $766,000 after buying an additional 100 shares during the last quarter. Capital Fund Management S.A. increased its stake in shares of Allegiant Travel Company by 79.4% in the third quarter. Capital Fund Management S.A. now owns 34,161 shares of the transportation company’s stock valued at $4,512,000 after buying an additional 15,114 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Allegiant Travel Company by 4.9% in the third quarter. UBS Asset Management Americas Inc. now owns 3,809 shares of the transportation company’s stock valued at $503,000 after buying an additional 177 shares during the last quarter. BlackRock Advisors LLC increased its stake in shares of Allegiant Travel Company by 8.4% in the third quarter. BlackRock Advisors LLC now owns 6,774 shares of the transportation company’s stock valued at $895,000 after buying an additional 526 shares during the last quarter. Finally, BlackRock Investment Management LLC increased its stake in shares of Allegiant Travel Company by 0.4% in the third quarter. BlackRock Investment Management LLC now owns 55,007 shares of the transportation company’s stock valued at $7,265,000 after buying an additional 243 shares during the last quarter. 79.27% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Gary Ellmer sold 580 shares of the company’s stock in a transaction that occurred on Friday, March 24th. The shares were sold at an average price of $162.00, for a total transaction of $93,960.00. Following the sale, the director now directly owns 2,255 shares of the company’s stock, valued at approximately $365,310. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jude Bricker sold 4,421 shares of the company’s stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $158.67, for a total transaction of $701,480.07. Following the sale, the executive vice president now directly owns 21,569 shares in the company, valued at $3,422,353.23. The disclosure for this sale can be found here. Corporate insiders own 21.00% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Friday, May 19th will be issued a $0.70 dividend. The ex-dividend date is Wednesday, May 17th. This represents a $2.80 annualized dividend and a dividend yield of 1.92%. Allegiant Travel Company’s dividend payout ratio is currently 21.21%.

About Allegiant Travel Company

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.

5 Day Chart for NASDAQ:ALGT

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