Q1 2023 EPS Estimates for Spirit Airlines, Inc. Lowered by Seaport Res Ptn (NYSE:SAVE)

Spirit Airlines, Inc. (NYSE:SAVE – Get Rating) – Stock analysts at Seaport Res Ptn dropped their Q1 2023 earnings estimates for shares of Spirit Airlines in a note issued to investors on Tuesday, March 14th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the company will post earnings per share of ($0.80) for the quarter, down from their previous forecast of ($0.45). Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for Spirit Airlines’ current full-year earnings is ($1.85) per share. Seaport Res Ptn also issued estimates for Spirit Airlines’ Q2 2023 earnings at $0.50 EPS, Q3 2023 earnings at $0.45 EPS and FY2023 earnings at $0.70 EPS.

Separately, Deutsche Bank Aktiengesellschaft downgraded shares of Spirit Airlines from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $27.00 to $24.00 in a research report on Tuesday, December 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $26.86.

Spirit Airlines Trading Down 0.6 %

Shares of Spirit Airlines stock opened at $17.00 on Friday. Spirit Airlines has a 1 year low of $15.92 and a 1 year high of $27.88. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $1.86 billion, a P/E ratio of -3.34, a PEG ratio of 0.45 and a beta of 1.13. The company’s fifty day moving average is $19.02 and its two-hundred day moving average is $19.98.

Spirit Airlines (NYSE:SAVE – Get Rating) last issued its quarterly earnings data on Tuesday, February 7th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.09. Spirit Airlines had a negative net margin of 7.95% and a negative return on equity of 14.01%. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the firm posted ($0.64) EPS. Spirit Airlines’s revenue for the quarter was up 40.9% on a year-over-year basis.

Spirit Airlines Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, March 31st. Stockholders of record on Monday, March 27th will be issued a $0.10 dividend. This represents a dividend yield of 1.76%. The ex-dividend date is Friday, March 24th.

Institutional Trading of Spirit Airlines

Several hedge funds and other institutional investors have recently made changes to their positions in SAVE. Huntington National Bank boosted its holdings in shares of Spirit Airlines by 198.0% in the third quarter. Huntington National Bank now owns 1,505 shares of the company’s stock valued at $28,000 after acquiring an additional 1,000 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of Spirit Airlines in the fourth quarter valued at about $36,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Spirit Airlines by 272.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,119 shares of the company’s stock valued at $41,000 after purchasing an additional 1,550 shares during the period. Goodwin Investment Advisory lifted its stake in shares of Spirit Airlines by 125.0% in the second quarter. Goodwin Investment Advisory now owns 1,800 shares of the company’s stock valued at $43,000 after purchasing an additional 1,000 shares during the period. Finally, Byrne Asset Management LLC acquired a new stake in shares of Spirit Airlines in the fourth quarter valued at about $54,000. Hedge funds and other institutional investors own 67.72% of the company’s stock.

Spirit Airlines Company Profile

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Spirit Airlines, Inc engages in the provision of air transportation services. Its operations are concentrated in markets such as South Florida, the Caribbean, Latin America, and the Northeast and Northern Midwest regions of the United States. The firm offers travel insurance, carry-on and checked baggage, online booking, and other services.