Spirit Airlines, Inc. (NYSE: SAVE) – Seaport Res Ptn investment analysts released their earnings per share estimates for the third quarter of 2021 for Spirit Airlines shares in an on Tuesday 17. The analyst at Seaport Res Ptn, D Mckenzie, now expects the company to earn ($ 0.60) per share for the quarter, up from its previous estimate of $ 0.15. Seaport Res Ptn also estimated Spirit Airlines earnings for the fourth quarter of 2021 at $ 0.00 EPS, for fiscal 2021 at ($ 3.28) EPS, and for fiscal 2021 at $ 1.25 EPS. Spirit Airlines (NYSE: SAVE) last released its quarterly earnings data on Tuesday, July 27th. The company reported ($ 0.34) EPS for the quarter, beating Thomson Reuters’ consensus estimate of ($ 0.87) by $ 0.53. The company had revenue of $ 859.31 million for the quarter, compared to analyst estimates of $ 818.67 million. Spirit Airlines had a negative net margin of 29.57% and a negative return on equity of 29.21%.
Several other research analysts recently rated the stock as well. MKM Partners started reporting on Spirit Airlines shares in a research release on Thursday June 10th. They posted a “Buy” rating and a target price of $ 44.00 for the company. Susquehanna cut her price target for Spirit Airlines from $ 40.00 to $ 36.00 and rated the company as “positive” in a report on Tuesday. Evercore ISI confirmed a “hold” rating in a report on Thursday, August 12, and issued a price target of $ 35.00 on Spirit Airlines shares. Susquehanna Bancshares cut her price target for Spirit Airlines from $ 40.00 to $ 36.00 and gave the company a “positive” rating in a research note on Tuesday. Finally, Stifel Nicolaus lowered his price target for Spirit Airlines from USD 33.00 to USD 28.00 and set a “hold” rating for the share in a research report on Tuesday. One analyst rated the stock with a sell rating, eight with a hold rating, and eight with a buy rating on the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $ 35.50.
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NYSE: SAVE opened at $ 23.78 on Thursday. The company has a 50-day moving average price of $ 29.11. Spirit Airlines has a 1-year low of $ 15.06 and a 1-year high of $ 40.77. The company has a current metric of 1.49, a fast metric of 1.49, and a leverage ratio of 1.38. The stock has a market capitalization of $ 2.58 billion, a price to earnings ratio of -3.62, and a beta of 1.72.
A number of institutional investors and hedge funds have recently changed their positions in SAVE. Truist Financial Corp increased its stake in Spirit Airlines by 51.3% in the fourth quarter. Truist Financial Corp now owns 20,910 shares in the company valued at $ 511,000 after purchasing an additional 7,087 shares during the period. Norges Bank acquired a new stake in Spirit Airlines worth approximately $ 5,847,000 in the fourth quarter. International Assets Investment Management LLC increased its stake in Spirit Airlines by 159.3% in the first quarter. International Assets Investment Management LLC now owns 7,000 shares in the company valued at $ 225,000 after purchasing an additional 4,300 shares during the reporting period. Private Advisor Group LLC increased its stake in Spirit Airlines by 39.4% in the first quarter. Private Advisor Group LLC now owns 11,685 shares in the company valued at $ 431,000 after purchasing an additional 3,300 shares during the reporting period. Finally, James Investment Research Inc. increased its stake in Spirit Airlines shares by 1,822.2% in the first quarter. James Investment Research Inc. now owns 15,051 shares in the company, valued at $ 555,000, after purchasing an additional 14,268 shares last quarter. Institutional investors and hedge funds own 61.49% of the company’s stock.
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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