Spirit Airlines, Inc. (SAVE) Set to Announce Earnings on Monday
Spirit Airlines, Inc. (NASDAQ:SAVE) is scheduled to be releasing its earnings data before the market opens on Monday, October 23rd. Analysts expect Spirit Airlines to post earnings of $1.55 per share for the quarter.
Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.03. Spirit Airlines had a net margin of 9.62% and a return on equity of 17.96%. The firm had revenue of $701.68 million during the quarter, compared to the consensus estimate of $702.29 million. During the same quarter in the previous year, the firm posted $1.11 EPS. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, analysts expect Spirit Airlines to post $2.99 EPS for the current fiscal year and $3.08 EPS for the next fiscal year.
Shares of Spirit Airlines, Inc. (NASDAQ:SAVE) opened at 33.81 on Friday. Spirit Airlines, Inc. has a 12 month low of $30.32 and a 12 month high of $60.40. The company has a market cap of $2.35 billion, a P/E ratio of 9.80 and a beta of 0.66. The stock’s 50 day moving average is $34.00 and its 200-day moving average is $45.95.
Several research analysts recently issued reports on the stock. J P Morgan Chase & Co raised shares of Spirit Airlines from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $56.00 to $45.00 in a report on Tuesday, August 1st. Citigroup Inc. raised shares of Spirit Airlines from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $65.00 to $52.00 in a report on Friday, July 28th. TheStreet lowered shares of Spirit Airlines from a “b-” rating to a “c+” rating in a research report on Monday, August 7th. ValuEngine lowered shares of Spirit Airlines from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Cowen and Company restated a “market perform” rating and set a $45.00 price target (down previously from $59.00) on shares of Spirit Airlines in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $45.60.
In related news, Director H. Mcintyre Gardner bought 5,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were acquired at an average price of $33.78 per share, for a total transaction of $168,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by company insiders.
A hedge fund recently raised its stake in Spirit Airlines stock. The Manufacturers Life Insurance Company grew its stake in Spirit Airlines, Inc. (NASDAQ:SAVE) by 7.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,160 shares of the transportation company’s stock after purchasing an additional 141 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Spirit Airlines were worth $112,000 as of its most recent SEC filing. Institutional investors own 96.99% of the company’s stock.
About Spirit Airlines
Spirit Airlines, Inc is an airline company. The Company provides air transportation for passengers. As of December 31, 2016, its all-Airbus Fit Fleet operated over 420 daily flights to 59 destinations in the United States, Caribbean and Latin America. As of December 31, 2016, it had a fleet of 95 Airbus single-aisle aircraft, which are referred to as A320 family aircraft and include the A319, A320 and A321 models, which have common design and equipment but differ most notably in fuselage length, service range and seat capacity.
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