Allegiant Travel (ALGT) Stock Declines While Market Improves: Some Information for Investors
The latest trading session saw Allegiant Travel (ALGT) ending at $71.31, denoting a -0.85% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.73%. Meanwhile, the Dow experienced a rise of 0.62%, and the technology-dominated Nasdaq saw an increase of 0.93%.
Shares of the travel services company witnessed a loss of 4.45% over the previous month, beating the performance of the Transportation sector with its loss of 5.64% and underperforming the S&P 500's loss of 2.29%.
The investment community will be closely monitoring the performance of Allegiant Travel in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.13, reflecting a 124.07% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $583.69 million, up 4.17% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $8.50 per share and a revenue of $2.55 billion, representing changes of +171.57% and +10.66%, respectively, from the prior year.
Any recent changes to analyst estimates for Allegiant Travel should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 15.34% downward. Allegiant Travel is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, Allegiant Travel is presently being traded at a Forward P/E ratio of 8.46. For comparison, its industry has an average Forward P/E of 6.54, which means Allegiant Travel is trading at a premium to the group.
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 228, putting it in the bottom 10% 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.
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
