Allegiant Travel (ALGT) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Allegiant Travel (ALGT) closed at $73.98, marking a -1.73% move from the previous day. This move lagged the S&P 500's daily loss of 1.37%. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 1.87%.
Heading into today, shares of the travel services company had lost 15.37% over the past month, lagging the Transportation sector's loss of 6.67% and the S&P 500's loss of 4.93% in that time.
Wall Street will be looking for positivity from Allegiant Travel as it approaches its next earnings report date. On that day, Allegiant Travel is projected to report earnings of $0.32 per share, which would represent year-over-year growth of 159.26%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $587.87 million, up 4.92% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.28 per share and revenue of $2.56 billion. These totals would mark changes of +196.49% and +11.33%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Allegiant Travel. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 11.58% lower within the past month. Allegiant Travel currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Allegiant Travel is currently trading at a Forward P/E ratio of 8.11. This represents a premium compared to its industry's average Forward P/E of 7.82.
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 205, putting it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Allegiant Travel Company (ALGT) : Free Stock Analysis Report
