|Bid||0.00 x 1000|
|Ask||0.00 x 900|
|Day's Range||107.34 - 109.28|
|52 Week Range||60.06 - 183.26|
|Beta (5Y Monthly)||1.46|
|PE Ratio (TTM)||12.43|
|Earnings Date||Jul 29, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Feb 28, 2020|
|1y Target Est||121.89|
Tripping air travel demand due to COVID-19 causes Allegiants'(ALGT) consolidated load factor to tank by 2860 basis points.
Allegiant Travel Company (NASDAQ: ALGT) has scheduled its second quarter 2020 financial results conference call for Wednesday, July 29 at 4:30 p.m. EDT. A live broadcast of the conference call will be available through the company's Investor Relations website homepage at http://ir.allegiantair.com. The webcast will also be archived on the "Events & Presentations" section of the site.
America is built on optimism, but it is not immune to the laws of science. It's a lesson some U.S. airlines have learned the past two weeks, as Covid-19 cases continue to increase in many regions. As cases go up, some state and city governments have instituted new quarantines that limit what travelers can do […]
Airline stocks were down sharply on Thursday as a new reality appeared to be sinking in: The rebound in leisure travel may be sputtering, and there are signs that corporate travel may not materialize to pick up the slack. “In metaphorical terms, if all the octopus’ tentacles are not functioning, the head will flounder.”
Shares of Allegiant Travel Co. rose 1.0% in premarket trading Thursday, after the air-related travel services company reported June bookings that exceeded its expectations, resulting in improved load factor and cash burn. Allegiant said average bookings for June were more than $4 million per day, which "exceeded our expectations," to lift the average daily gross bookings for the second quarter to over $2.5 million. That helped bring the average daily cash burn rate for the quarter to $900,000, compared with the previous forecast of $1.75 million. Meanwhile, bookings were negatively impacted over the last two weeks after several states reported increases in COVID-19 cases, which has "tempered expectations into the third quarter." The company said June load factor was 57.3%, up nearly 10 percentage points from May. For the third quarter, average daily cash burn is expected to be about $750,000 and the company expects to operate about 75% of its schedule. The stock has dropped 36.7% year to date through Wednesday, while the U.S. Global Jets ETF has shed 48.2% and the S&P 500 has eased 1.9%.
Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for June 2020 as well as second quarter 2020.
American Airlines (AAL) has come under scrutiny for its decision not to block the middle seats on flights in the name of preventing coronavirus transmission — but many other airlines have taken this same stance. The carrier announced last week that starting Wed., July 1, it would resume booking flights to full capacity. Previously, the airline had said it would limit its flights to 85% capacity and block certain seats to ensure social distancing onboard its aircraft.
During a media roundtable Senate Committee hearing this week, the TSA laid out new policies and procedures to reduce the potential of infectious transmission.
Allegiant Travel Company today announced that, beginning July 2, customers will be required to wear face masks during all phases of travel, including at the ticket counter, in the gate area, during boarding, on the aircraft and during the flight. This policy update builds on Allegiant's comprehensive health and safety program by bringing an extra layer of protection to customers, crew and team members at Allegiant airports.
The rally in airline stocks is stalling over concerns that a second wave of coronavirus cases will put the brakes on air travel. (AAL) (ticker: AAL), meanwhile, priced $2.5 billion in bonds with an 11.75% interest rate—adding more debt to its balance sheet and prompting UBS to trim its price target on the stock. Airline stocks were down about 1% Thursday, after falling an average 7.7% on Wednesday, according to the NYSE Arca Airline Index.
With their businesses cratering, most U.S. airlines are staking out their short-term future on one customer segment that has proven resilient in nearly every downturn — travelers visiting friends and relatives. But as Covid-19 cases rise in the United States and some states enact new restrictions on movement, that strategy will be tested. The latest […]
In this article we will take a look at whether hedge funds think Allegiant Travel Company (NASDAQ:ALGT) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get tips […]
Although systemwide net flight bookings in the U.S. declined in the week ending June 14, it was a meaningful improvement from the prior week's decline, driven by both domestic and international bookings, according to BofA Securities.The sell-side firm sees continues strength in the leisure segment. The Allegiant, Southwest Analyst Andrew Didora maintained Buy ratings on Allegiant Travel Company (NASDAQ: ALGT) and Southwest Airlines Co (NYSE: LUV), with unchanged price targets of $140 and $44, respectively.Takeaways On Allegiant, Southwest Recent conference calls with Allegiant Travel and Southwest Airlines management support the data showing a recovery in leisure demand and highlighted the strengths of both carriers in managing through the pandemic, Didora said in a Monday note. (See his track record here.)Both companies have solid liquidity positions, the analyst said.Even without additional government loans, Allegiant Travel has enough liquidity through 2022 and Southwest Airlines through mid-2023 at their present cash burn rates, he said. "ALGT's strategy of keeping its schedule open and pulling back flights close-in has allowed it to take advantage of this bounce in demand, while LUV has actually begun adding back flights to its schedule in late May and into June."Neither carrier reported a demand impact from rising coronavirus cases, despite their exposure to Florida, according to BofA. ALGT, LUV Price Action Allegiant Travel shares were up 2.82% at $112.42 at the time of publication, while Southwest shares were higher by 0.12% at $34.59. Related Links: 3 Airline Stocks That Could Benefit From Leisure-Led RecoveryAmerican Airlines Plans To Raise .5B In Funding To Fly Through The PandemicLatest Ratings for ALGT DateFirmActionFromTo Jun 2020Raymond JamesUpgradesOutperformStrong Buy May 2020Raymond JamesUpgradesMarket PerformOutperform Apr 2020Deutsche BankMaintainsBuy View More Analyst Ratings for ALGT View the Latest Analyst Ratings See more from Benzinga * Stifel Upgrades Southwest Airlines, Says It Will Exit The Coronavirus Crisis Stronger(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
United Airlines Holdings (UAL), meanwhile, is gearing up to issue $5 billion in debt this week, according to Bloomberg, using its frequent-flier mileage program as collateral. Shares of American were off 6% in Monday morning trading, while United’s stock was down 3%. Airline balance sheets are getting stressed with more debt, and equity values are being diluted as carriers issue more stock.
Allegiant Travel (ALGT) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Dwindling air travel demand due to the COVID-19 pandemic hurts Allegiant's (ALGT) May traffic statistics. Load factor falls 3630 basis points.
Allegiant Travel Co. said Tuesday that it continues to see "material improvement" in travel demand off the April lows, which has helped reduce its cash burn per day below previous expectations. The travel services and airline company said traffic for May down 70.1% from a year ago while capacity was down 47.2%, with scheduled departures down 48.8%. "We have been pleased to see that May demand trends were stronger than anticipated," said Vice President of Revenue Drew Wells. "During the first week of June we operated 70 percent of our schedule versus roughly 50 percent of the schedule in May." Chief Financial Officer Gregory Anderson said second-quarter cash burn per day is expected to be about $1.75 million, below previous expectations of $2.1 million per day, while third-quarter cash burn is expected to be $1 million per day. The stock fell 3.6% in premarket trading, after running up 7.8% on Monday. It has climbed 13.0% over the past three months, while the U.S. Global Jets ETF has advanced 7.3% and the S&P 500 has rallied 17.7%.
Bank of America analyst Andrew Didora raises his price targets across much of the sector and upgrades Alaska Air and JetBlue.
Moody's Investors Service ("Moody's") confirmed its ratings for Allegiant Travel Company ("Allegiant"); Ba3 corporate family rating, Ba3-PD probability of default rating, and Ba3 senior secured debt ratings. The ratings outlook is negative.
U.S. leisure travelers often buy airfare months ahead of departure, betting they can score a deal with shrewd advance planning. But in these atypical times, that may not be the best strategy — provided they want to fly what they bought. That's because many airlines have not yet decided what they're going to fly more […]