Allegiant Travel (ALGT) Dips More Than Broader Market: What You Should Know
Allegiant Travel (ALGT) closed the latest trading day at $82.61, indicating a -1.82% change from the previous session's end. The stock's change was less than the S&P 500's daily loss of 0.28%. Meanwhile, the Dow lost 0.06%, and the Nasdaq, a tech-heavy index, lost 0.56%.
Heading into today, shares of the travel services company had gained 22.85% over the past month, outpacing the Transportation sector's gain of 9.53% and the S&P 500's gain of 5.24% in that time.
Investors will be eagerly watching for the performance of Allegiant Travel in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$1.02, marking a 132.18% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $599.99 million, indicating a 1.89% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.51 per share and revenue of $2.5 billion, which would represent changes of +107.99% and +8.56%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Allegiant Travel. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.18% upward. Right now, Allegiant Travel possesses a Zacks Rank of #5 (Strong Sell).
With respect to valuation, Allegiant Travel is currently being traded at a Forward P/E ratio of 12.93. This denotes a premium relative to the industry's average Forward P/E of 8.01.
The Transportation - Airline industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 194, positioning it in the bottom 24% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Allegiant Travel Company (ALGT) : Free Stock Analysis Report
