Analysts Anticipate Spirit Airlines, Inc. (SAVE) to Announce $1.24 EPS
Wall Street analysts predict that Spirit Airlines, Inc. (NASDAQ:SAVE) will report $1.24 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Spirit Airlines’ earnings. The lowest EPS estimate is $1.14 and the highest is $1.60. Spirit Airlines also posted earnings of $1.24 per share in the same quarter last year. The firm is scheduled to announce its next quarterly earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that Spirit Airlines will report full year earnings of $3.76 per share for the current fiscal year, with EPS estimates ranging from $3.50 to $4.20. For the next financial year, analysts forecast that the company will report earnings of $4.37 per share, with EPS estimates ranging from $3.50 to $5.00. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Spirit Airlines.
Spirit Airlines (NASDAQ:SAVE) last released its earnings results on Thursday, July 27th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.03. The company had revenue of $701.68 million during the quarter, compared to analyst estimates of $702.29 million. Spirit Airlines had a net margin of 9.62% and a return on equity of 17.96%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.11 EPS.
A number of research analysts have issued reports on the company. Zacks Investment Research raised Spirit Airlines from a “sell” rating to a “hold” rating in a report on Monday. J P Morgan Chase & Co raised Spirit Airlines from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $56.00 to $45.00 in a report on Tuesday, August 1st. Stifel Nicolaus reissued a “buy” rating and issued a $55.00 price target (down from $75.00) on shares of Spirit Airlines in a report on Sunday, July 30th. Deutsche Bank AG reissued a “buy” rating and issued a $54.00 price target (down from $69.00) on shares of Spirit Airlines in a report on Sunday, July 30th. Finally, Buckingham Research downgraded Spirit Airlines from a “buy” rating to a “neutral” rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $54.96.
Several hedge funds have recently modified their holdings of SAVE. James Investment Research Inc. purchased a new stake in shares of Spirit Airlines during the first quarter valued at approximately $137,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Spirit Airlines during the first quarter valued at approximately $346,000. Parkwood LLC boosted its stake in shares of Spirit Airlines by 24.9% in the first quarter. Parkwood LLC now owns 6,675 shares of the transportation company’s stock valued at $354,000 after buying an additional 1,332 shares during the last quarter. New Jersey Better Educational Savings Trust purchased a new stake in shares of Spirit Airlines during the second quarter valued at approximately $362,000. Finally, Karp Capital Management Corp purchased a new stake in shares of Spirit Airlines during the first quarter valued at approximately $368,000.
Spirit Airlines (NASDAQ:SAVE) traded down 0.83% during midday trading on Tuesday, reaching $38.08. 1,316,279 shares of the company traded hands. The stock has a market capitalization of $2.64 billion, a P/E ratio of 11.04 and a beta of 0.57. The firm has a 50-day moving average of $49.51 and a 200-day moving average of $52.88. Spirit Airlines has a 1-year low of $37.17 and a 1-year high of $60.40.
Spirit Airlines Company Profile
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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