Allegiant Travel (ALGT) Dips More Than Broader Market: What You Should Know
The latest trading session saw Allegiant Travel (ALGT) ending at $80.91, denoting a -0.91% adjustment from its last day's close. This change lagged the S&P 500's 0.07% loss on the day. Meanwhile, the Dow gained 0.16%, and the Nasdaq, a tech-heavy index, lost 0.36%.
The the stock of travel services company has fallen by 2.96% in the past month, lagging the Transportation sector's loss of 2.2% and the S&P 500's gain of 3.05%.
Market participants will be closely following the financial results of Allegiant Travel in its upcoming release. The company plans to announce its earnings on February 5, 2024. In that report, analysts expect Allegiant Travel to post earnings of -$0.75 per share. This would mark a year-over-year decline of 123.66%. Meanwhile, the latest consensus estimate predicts the revenue to be $601.47 million, indicating a 1.65% decrease compared to the same quarter of the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Allegiant Travel. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Within the past 30 days, our consensus EPS projection has moved 7.87% higher. As of now, Allegiant Travel holds a Zacks Rank of #3 (Hold).
In the context of valuation, Allegiant Travel is at present trading with a Forward P/E ratio of 10.04. This expresses a premium compared to the average Forward P/E of 8.29 of its industry.
The Transportation - Airline industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 31, placing it within the top 13% of over 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Allegiant Travel Company (ALGT) : Free Stock Analysis Report
