Brokerages predict that Spirit Airlines, Inc. (NYSE: SAVE) will generate earnings of $ 0.55 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have released estimates of Spirit Airlines’ earnings, with the lowest EPS estimate at ($ 1.10) and the highest at $ 0.25. Spirit Airlines posted earnings of ($ 2.32) per share for the same quarter last year, representing a positive year-over-year growth rate of 76.3%. The company is expected to release its next earnings report on Wednesday, October 27th.
According to Zacks, analysts expect Spirit Airlines to post full year earnings of ($ 3.12) per share for the current year, with EPS estimates ranging between ($ 3.95) and ($ 2.21). For the next year, analysts predict the company will post earnings of $ 1.84 per share, with EPS estimates ranging from $ 1.11 to $ 3.28. Zacks Investment Research’s EPS calculations are an 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 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%.
SAVE has been the subject of a number of new analyst reports. Stifel Nicolaus lowered his price target for Spirit Airlines shares from USD 33.00 to USD 28.00 and in a report on Tuesday 17th Wolfe Research upgraded Spirit Airlines shares from an “underperform” rating to a “peer -Perform “rating and a target price of $ 35.00 on the stock was set in a report dated Friday, May 14th. named Spirit Airlines in a research report on Tuesday 15th. Susquehanna lowered its price target on Spirit Airlines shares from $ 40.00 to $ 36.00 August, as “positive”. Finally, Susquehanna Bancshares lowered her price target on Spirit Airlines shares from USD 40.00 to USD 36.00 and rated the company as “positive” in a research report on Tuesday, August 17th. One research analyst gave the stock a sell rating, eight a hold rating and eight a buy rating. Based on data from MarketBeat, Spirit Airlines currently has a consensus rating of “Hold” and an average price target of $ 35.50.
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Spirit Airlines stock opened at $ 24.58 on Monday. The company has a market cap of $ 2.66 billion, a P / E of -3.75, and a beta of 1.72. Spirit Airlines has a 12-month low of $ 15.06 and a 12-month high of $ 40.77. The company has a quick ratio of 1.49, a current ratio of 1.49, and debt of 1.38. The fifty day simple moving average is $ 26.89 and the two hundred day simple moving average is $ 32.68.
Several hedge funds recently changed their positions in SAVE. Vanguard Group Inc. increased its position in Spirit Airlines by 12.1% in the second quarter. Vanguard Group Inc. now owns 9,684,912 shares in the company valued at $ 294,808,000 after purchasing an additional 1,047,445 shares during the reporting period. Vaughan Nelson Investment Management LP bought a new stake in Spirit Airlines in the first quarter valued at approximately $ 31,962,000. Dimensional Fund Advisors LP gained 13.1% in Spirit Airlines stocks in the first quarter. Dimensional Fund Advisors LP now owns 4,841,872 shares in the company valued at $ 178,668,000 after purchasing an additional 561,861 shares during the period. Renaissance Technologies LLC bought a new position in Spirit Airlines shares valued at approximately $ 16,004,000 during the second quarter. Finally, BlackRock Inc. increased its position in Spirit Airlines stocks by 5.3% in the first quarter. BlackRock Inc. now owns 7,735,923 shares in the company valued at $ 285,456,000 after purchasing an additional 387,536 shares during the period. Hedge funds and other institutional investors own 61.49% of the company’s stock.
About Spirit Airlines
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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