Allegiant Travel (ALGT) Stock Moves 0.17%: What You Should Know
In the latest market close, Allegiant Travel (ALGT) reached $84.49, with a +0.17% movement compared to the previous day. The stock performed in line with S&P 500. Meanwhile, the Dow lost 0.05%, and the Nasdaq, a tech-heavy index, added 0.2%.
Prior to today's trading, shares of the travel services company had gained 24.39% over the past month. This has outpaced the Transportation sector's gain of 8.36% and the S&P 500's gain of 4.71% in that time.
Market participants will be closely following the financial results of Allegiant Travel in its upcoming release. On that day, Allegiant Travel is projected to report earnings of -$1.02 per share, which would represent a year-over-year decline of 132.18%. Meanwhile, the latest consensus estimate predicts the revenue to be $599.99 million, indicating a 1.89% decrease compared to the same quarter of the previous year.
ALGT's full-year Zacks Consensus Estimates are calling for earnings of $6.50 per share and revenue of $2.5 billion. These results would represent year-over-year changes of +107.67% and +8.56%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Allegiant Travel. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.14% increase. Allegiant Travel currently has a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Allegiant Travel is holding a Forward P/E ratio of 12.97. This valuation marks a premium compared to its industry's average Forward P/E of 7.69.
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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
