Wall Street analysts predict that Spirit Airlines, Inc. (NYSE: SAVE) will report fiscal year revenue of $ 935.44 million, according to Zacks Investment Research. Four analysts have estimated Spirit Airlines’ earnings, with the highest revenue estimate at $ 955.00 million and the lowest estimate at $ 909.59 million. Spirit Airlines posted revenue of $ 401.92 million in the same quarter last year, indicating a positive year-over-year growth rate of 132.7%. The company is expected to announce its next quarterly earnings report on Wednesday, October 27th.
According to Zacks, analysts expect Spirit Airlines to report total annual revenue of $ 3.31 billion for the current fiscal year, with estimates ranging between $ 3.22 billion and $ 3.36 billion. For the next year, analysts expect sales of 4.87 billion US dollars, with estimates ranging between 4.44 billion US dollars and 5.06 billion US dollars. Zacks’ revenue calculations are an average based on a survey of research companies covering Spirit Airlines.
Spirit Airlines (NYSE: SAVE) last released its earnings numbers on Tuesday, July 27th. The company reported earnings per share (EPS) ($ 0.34) for the quarter, beating the consensus estimate of ($ 0.87) by $ 0.53. Spirit Airlines had a negative return on equity of 29.21% and a negative net margin of 29.57%. The company had revenue of $ 859.31 million for the quarter, compared to analyst estimates of $ 818.67 million.
A number of brokers recently looked at SAVE. 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 Bancshares lowered her price target for Spirit Airlines from USD 40.00 to USD 36.00 and rated the company as “positive” in a report dated Tuesday, August 17. Stifel Nicolaus lowered its price target for Spirit Airlines from USD 33.00 to USD 28.00 and set a rating for the company in a report on Tuesday, August 17th. Citigroup lowered its price target for Spirit Airlines from USD 36.00 to USD 35.00 and issued a buy recommendation for the company in a report on Wednesday, September 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered its price target for Spirit Airlines from $ 44.00 to $ 36.00 and issued a buy recommendation for the company in a report on Tuesday, August 17. A stock research analyst has given the stock a sell rating, nine a hold rating, and seven a buy rating for the company’s stock. According to MarketBeat.com, the company has an average “Hold” rating and an average price target of $ 33.94.
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The shares of SAVE stock opened at $ 24.01 on Friday. Spirit Airlines has a 52-week low of $ 15.45 and a 52-week high of $ 40.77. The company has a market capitalization of $ 2.60 billion, a price / earnings ratio of -3.66, and a beta of 1.69. The company has a debt of 1.38, a quick ratio of 1.49 and a current ratio of 1.49. The stock’s 50-day simple moving average is $ 25.14 and the 200-day simple moving average is $ 30.34.
Several institutional investors and hedge funds recently changed their holdings in the stock. Deltec Asset Management LLC increased its position in Spirit Airlines shares by 140.0% in the third quarter. Deltec Asset Management LLC now owns 24,000 shares in the company valued at $ 623,000 after purchasing an additional 14,000 shares last quarter. First Dallas Securities Inc. increased its stake in Spirit Airlines by 37.7% in the third quarter. First Dallas Securities Inc. now owns 20,375 shares in the company valued at $ 529,000 after purchasing an additional 5,580 shares last quarter. Hodges Capital Management Inc. increased its stake in Spirit Airlines by 132.2% in the third quarter. Hodges Capital Management Inc. now owns 1,094,056 shares in the company valued at $ 28,380,000 after purchasing an additional 622,832 shares last quarter. IFP Advisors Inc increased its stake in Spirit Airlines by 14.4% in the third quarter. IFP Advisors Inc now owns 8,937 shares in the company, valued at $ 233,000, after purchasing an additional 1,123 shares last quarter. Finally, Deane Retirement Strategies Inc. increased its stake in Spirit Airlines by 0.7% in the third quarter. Deane Retirement Strategies Inc. now owns 110,577 shares in the company, valued at $ 2,868,000, after purchasing an additional 735 shares last quarter. Hedge funds and other institutional investors own 62.98% 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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