Sun Country Airlines (NASDAQ:SNCY) Posts Earnings Results, Beats Estimates By $0.04 EPS

Sun Country Airlines (NASDAQ:SNCY) announced its quarterly earnings results on Thursday. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04, FiscalAI reports. Sun Country Airlines had a return on equity of 8.98% and a net margin of 4.69%.The company had revenue of $280.96 million for the quarter, compared to the consensus estimate of $272.98 million. During the same quarter last year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year.

Sun Country Airlines Stock Performance

Shares of SNCY stock opened at $21.84 on Friday. Sun Country Airlines has a 12 month low of $8.10 and a 12 month high of $22.12. The company’s fifty day simple moving average is $15.95 and its 200-day simple moving average is $13.46. The firm has a market cap of $1.15 billion, a PE ratio of 22.75, a P/E/G ratio of 0.44 and a beta of 1.58. The company has a quick ratio of 0.73, a current ratio of 0.76 and a debt-to-equity ratio of 0.76.

Insiders Place Their Bets

In other news, SVP Stephen Andrew Coley sold 2,052 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $15.09, for a total transaction of $30,964.68. Following the completion of the transaction, the senior vice president directly owned 45,040 shares in the company, valued at $679,653.60. This represents a 4.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Erin Rose Neale sold 2,257 shares of the stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $17.53, for a total value of $39,565.21. Following the transaction, the senior vice president directly owned 38,931 shares of the company’s stock, valued at $682,460.43. This trade represents a 5.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,378 shares of company stock valued at $343,249 in the last three months. 5.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sun Country Airlines

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Sun Country Airlines by 13.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,817,742 shares of the company’s stock valued at $56,898,000 after acquiring an additional 589,323 shares during the period. Ameriprise Financial Inc. lifted its position in Sun Country Airlines by 1.4% during the second quarter. Ameriprise Financial Inc. now owns 3,178,770 shares of the company’s stock worth $37,351,000 after purchasing an additional 43,197 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Sun Country Airlines by 9.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,523,691 shares of the company’s stock worth $29,806,000 after acquiring an additional 224,344 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Sun Country Airlines by 3.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,260,965 shares of the company’s stock valued at $14,892,000 after purchasing an additional 43,834 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Sun Country Airlines by 6.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,167,547 shares of the company’s stock worth $14,384,000 after purchasing an additional 74,558 shares during the last quarter.

Wall Street Analyst Weigh In

SNCY has been the topic of several research analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $19.00 price objective (down previously from $22.00) on shares of Sun Country Airlines in a research note on Tuesday, January 13th. Wall Street Zen downgraded Sun Country Airlines from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sun Country Airlines in a report on Monday, December 29th. Cantor Fitzgerald set a $21.00 target price on Sun Country Airlines in a research note on Monday, November 3rd. Finally, Susquehanna upgraded shares of Sun Country Airlines from a “neutral” rating to a “positive” rating and increased their price objective for the company from $12.00 to $20.00 in a report on Friday, January 9th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Sun Country Airlines has an average rating of “Hold” and an average target price of $19.25.

About Sun Country Airlines

Sun Country Airlines (NASDAQ: SNCY) is an American ultra-low-cost carrier providing a blend of scheduled and charter passenger services. The carrier focuses on leisure markets, offering nonstop flights to sun and ski destinations across the United States, Mexico and the Caribbean. In addition to its scheduled network, Sun Country operates charter services for sports teams, corporate groups and tour operators, as well as seasonal cargo charters that support e-commerce peak periods.

Founded in 1982 and headquartered in Minneapolis, Minnesota, Sun Country has navigated multiple ownership and restructuring phases.