According to Zacks Investment Research, stock analysts predict that Spirit Airlines, Inc. (NYSE: SAVE) will report revenue of $ 924.70 million for the current fiscal quarter. Two analysts have provided estimates for Spirit Airlines’ earnings, with the lowest estimate at $ 909.59 million and the highest estimate at $ 939.80 million. Spirit Airlines achieved revenue of $ 401.92 million in the same quarter of the previous year, indicating a positive growth rate of 130.1% over the previous year. The company is expected to release its next earnings numbers on Wednesday, October 27th.
According to Zacks, analysts expect Spirit Airlines to post annual revenue of $ 3.41 billion for the current fiscal year, with estimates ranging between $ 3.29 billion and $ 3.54 billion. For the next fiscal year, analysts forecast sales of 4.81 billion US dollars, with estimates ranging between 4.32 billion US dollars and 5.06 billion US dollars. Zacks Investment Research’s sales calculations are an average average based on a survey of research firms covering Spirit Airlines.
Spirit Airlines (NYSE: SAVE) last released its earnings figures on Tuesday, July 27th. The company reported ($ 0.34) EPS for the quarter, beating analysts’ consensus estimate of ($ 0.87) by $ 0.53. The company posted revenue of $ 859.31 million for the quarter, compared to analyst expectations of $ 818.67 million. Spirit Airlines had a negative net margin of 29.57% and a negative return on equity of 29.21%.
SAVE has been the subject of several research reports. Evercore ISI confirmed a “Hold” rating in a research release on Thursday, August 12, and set a price target of $ 35.00 on Spirit Airlines shares. Susquehanna cut her price target on Spirit Airlines shares from $ 40.00 to $ 36.00 and gave the company a “positive” rating in a research note on Tuesday. Wolfe Research raised Spirit Airlines’ shares from an “underperform” rating to a “peer perform” rating and set a price target of USD 35.00 for the company in a research release on Friday, May 14th . MKM Partners began reporting on Spirit Airlines shares in a research release on Thursday June 10th. They issued a “Buy” rating and a target price of $ 44.00 on the company. Finally, Spirit Airlines raised it in a research release on Tuesday the 15th. An analyst rated the stock a sell, eight a hold, and eight a buy rating for the company’s stock. The company has an average “Hold” rating and a consensus price target of $ 35.50.
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Hedge funds and other institutional investors have recently bought and sold shares in the stock. Paloma Partners Management Co added a new position in Spirit Airlines shares for $ 5,687,000 in the first quarter. Principal Financial Group Inc. increased its position in Spirit Airlines by 14.3% in the first quarter. Principal Financial Group Inc. now owns 322,988 shares in the company valued at $ 11,919,000 after purchasing an additional 40,378 shares last quarter. 1492 Capital Management LLC acquired a new position in Spirit Airlines for $ 1,291,000 in the first quarter. ARGA Investment Management LP acquired a new position in Spirit Airlines valued at $ 1,018,000 in Q1. Finally, Commonwealth Equity Services LLC increased its position in Spirit Airlines by 41.0% in the first quarter. Commonwealth Equity Services LLC now owns 17,605 shares in the company valued at $ 649,000 after purchasing an additional 5,120 shares last quarter. 61.49% of the shares are currently owned by hedge funds and other institutional investors.
NYSE SAVE shares opened at $ 22.89 on Friday. Spirit Airlines has a 12-month low of $ 15.06 and a 12-month high of $ 40.77. The stock has a market cap of $ 2.48 billion, a P / E of -3.49, and a beta of 1.72. The company has a debt of 1.38, a quick ratio of 1.49 and a current ratio of 1.49. The company’s 50-day simple moving average is $ 28.89.
Spirit Airlines company profile
Spirit Airlines, Inc is an airline that offers travel to budget conscious customers. Its customers start with unbundled basic tariffs, which do away with the components included in the price of a flight ticket. The company was founded in 1964 by Ned Homfeld and is headquartered in Miramar, FL.
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