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Allegiant Travel (ALGT) Stock Slides as Market Rises: Facts to Know Before You Trade
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Allegiant Travel (ALGT - Free Report) ended the recent trading session at $76.02, demonstrating a -0.38% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.52% for the day. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq added 0.58%.
Prior to today's trading, shares of the travel services company had lost 11.57% over the past month. This has lagged the Transportation sector's loss of 3.11% and the S&P 500's loss of 2.61% in that time.
Market participants will be closely following the financial results of Allegiant Travel in its upcoming release. The company is predicted to post an EPS of $0.11, indicating a 120.37% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $582.99 million, indicating a 4.04% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $8.50 per share and revenue of $2.55 billion, which would represent changes of +171.57% and +10.75%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Allegiant Travel. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 15.34% lower within the past month. Allegiant Travel presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Allegiant Travel is presently being traded at a Forward P/E ratio of 8.97. This expresses a premium compared to the average Forward P/E of 7.38 of its industry.
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 229, putting it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow ALGT in the coming trading sessions, be sure to utilize Zacks.com.
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Allegiant Travel (ALGT) Stock Slides as Market Rises: Facts to Know Before You Trade
Allegiant Travel (ALGT - Free Report) ended the recent trading session at $76.02, demonstrating a -0.38% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.52% for the day. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq added 0.58%.
Prior to today's trading, shares of the travel services company had lost 11.57% over the past month. This has lagged the Transportation sector's loss of 3.11% and the S&P 500's loss of 2.61% in that time.
Market participants will be closely following the financial results of Allegiant Travel in its upcoming release. The company is predicted to post an EPS of $0.11, indicating a 120.37% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $582.99 million, indicating a 4.04% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $8.50 per share and revenue of $2.55 billion, which would represent changes of +171.57% and +10.75%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Allegiant Travel. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 15.34% lower within the past month. Allegiant Travel presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Allegiant Travel is presently being traded at a Forward P/E ratio of 8.97. This expresses a premium compared to the average Forward P/E of 7.38 of its industry.
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 229, putting it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow ALGT in the coming trading sessions, be sure to utilize Zacks.com.