Shares of Allegiant Travel Company (ALGT - Free Report) attained a new 52-week high of $168.28 during the trading session on Oct 25, before retracing a bit to close at $166.18, which was 7.6% higher than Oct 24’s closing price.
The reason for this uptick in the company’s share price was the strong third-quarter 2019 results. Let’s delve deeper.
This transportation company’s earnings of $2.7 per share surpassed the Zacks Consensus Estimate of $2.21. Moreover, the bottom line soared more than 100% year over year, driven by lower fuel costs and higher revenues. Total operating revenues grew 11% year over year to $436.5 million on the back of a 10.2% rise in passenger revenues. Moreover, the top line surpassed the consensus mark of $429.4 million.
Notably, quarterly earnings (airline operations) increased significantly to $3.06 per share.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Shares of Allegiant Travel Company (ALGT - Free Report) attained a new 52-week high of $168.28 during the trading session on Oct 25, before retracing a bit to close at $166.18, which was 7.6% higher than Oct 24’s closing price.
The reason for this uptick in the company’s share price was the strong third-quarter 2019 results. Let’s delve deeper.
This transportation company’s earnings of $2.7 per share surpassed the Zacks Consensus Estimate of $2.21. Moreover, the bottom line soared more than 100% year over year, driven by lower fuel costs and higher revenues. Total operating revenues grew 11% year over year to $436.5 million on the back of a 10.2% rise in passenger revenues. Moreover, the top line surpassed the consensus mark of $429.4 million.
Notably, quarterly earnings (airline operations) increased significantly to $3.06 per share.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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