Allegiant Travel Company (NASDAQ:ALGT) – Analysts at Imperial Capital reduced their Q4 2017 earnings per share estimates for shares of Allegiant Travel in a research report issued to clients and investors on Monday. Imperial Capital analyst M. Derchin now expects that the transportation company will earn $1.62 per share for the quarter, down from their prior estimate of $2.15. Imperial Capital also issued estimates for Allegiant Travel’s Q1 2018 earnings at $2.33 EPS, Q2 2018 earnings at $2.68 EPS, Q3 2018 earnings at $1.50 EPS, Q4 2018 earnings at $2.28 EPS and FY2019 earnings at $6.50 EPS.

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

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A number of other research firms have also issued reports 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 reissued a “market perform” rating and set a $150.00 target price (down from $157.00) on shares of Allegiant Travel in a research note on Thursday, July 27th. Zacks Investment Research raised shares of Allegiant Travel from a “hold” rating to a “buy” rating and set a $159.00 target price for the company in a research note on Monday, July 17th. Stifel Nicolaus reissued a “hold” rating and set a $135.00 target price on shares of Allegiant Travel in a research note on Thursday, October 26th. Finally, Sidoti reissued a “buy” rating and set a $186.00 target price (up from $183.00) on shares of Allegiant Travel in a research note on Wednesday, July 12th. Three 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 stock. Allegiant Travel currently has an average rating of “Hold” and a consensus price target of $144.17.

Allegiant Travel (NASDAQ ALGT) traded down 0.33% during trading on Wednesday, reaching $135.95. The company had a trading volume of 34,057 shares. The company has a market capitalization of $2.20 billion, a PE ratio of 12.75 and a beta of 0.03. The stock has a 50 day moving average price of $133.67 and a 200-day moving average price of $136.39. Allegiant Travel has a 52-week low of $111.54 and a 52-week high of $182.25.

Large investors have recently modified their holdings of the company. Bank of Montreal Can lifted its stake in shares of Allegiant Travel by 28.9% in the 2nd quarter. Bank of Montreal Can now owns 829 shares of the transportation company’s stock worth $112,000 after acquiring an additional 186 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Allegiant Travel by 17.5% in the 2nd quarter. Victory Capital Management Inc. now owns 853 shares of the transportation company’s stock worth $116,000 after acquiring an additional 127 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Allegiant Travel in the 1st quarter worth approximately $146,000. Riverhead Capital Management LLC lifted its stake in shares of Allegiant Travel by 119.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,099 shares of the transportation company’s stock worth $149,000 after acquiring an additional 599 shares during the period. Finally, Flinton Capital Management LLC lifted its stake in shares of Allegiant Travel by 81.8% in the 2nd quarter. Flinton Capital Management LLC now owns 1,120 shares of the transportation company’s stock worth $152,000 after acquiring an additional 504 shares during the period. 84.61% of the stock is owned by institutional investors.

In other news, CFO Scott Sheldon sold 5,872 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $137.63, for a total value of $808,163.36. Following the completion of the sale, the chief financial officer now directly owns 21,202 shares of the company’s stock, valued at approximately $2,918,031.26. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President John Redmond purchased 11,000 shares of Allegiant Travel stock in a transaction dated Friday, October 27th. The stock was bought at an average cost of $138.28 per share, with a total value of $1,521,080.00. Following the completion of the purchase, the president now owns 92,574 shares in the company, valued at approximately $12,801,132.72. The disclosure for this purchase can be found here. Corporate insiders own 22.00% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Wednesday, November 22nd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Tuesday, November 21st. Allegiant Travel’s dividend payout ratio is currently 30.08%.

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

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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