Spirit Airlines, Inc. (NASDAQ:SAVE) – Analysts at Imperial Capital reduced their Q4 2017 earnings per share estimates for shares of Spirit Airlines in a research report issued to clients and investors on Thursday. Imperial Capital analyst M. Derchin now expects that the transportation company will earn $0.58 per share for the quarter, down from their prior estimate of $0.70. Imperial Capital currently has a “Outperform” rating on the stock.

Spirit Airlines (NASDAQ:SAVE) last announced its earnings results on Thursday, July 27th. The transportation company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.11 by $0.03. The firm had revenue of $701.68 million for the quarter, compared to the consensus estimate of $702.29 million. Spirit Airlines had a net margin of 9.62% and a return on equity of 17.96%. The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the company posted $1.11 EPS. TRADEMARK VIOLATION NOTICE: This piece was first posted by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of US & international copyright laws. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/09/08/q4-2017-earnings-estimate-for-spirit-airlines-inc-issued-by-imperial-capital-save.html.

Several other analysts also recently commented on SAVE. Wolfe Research upgraded shares of Spirit Airlines from a “market perform” rating to an “outperform” rating in a report on Friday, June 2nd. BidaskClub downgraded shares of Spirit Airlines from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Bank of America Corporation dropped their target price on shares of Spirit Airlines from $75.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, June 30th. Deutsche Bank AG dropped their target price on shares of Spirit Airlines from $71.00 to $69.00 and set a “buy” rating on the stock in a report on Wednesday, July 12th. Finally, Morgan Stanley restated an “equal weight” rating and set a $60.00 target price (down from $61.00) on shares of Spirit Airlines in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $51.63.

Shares of Spirit Airlines (NASDAQ SAVE) opened at 32.32 on Friday. Spirit Airlines has a one year low of $30.32 and a one year high of $60.40. The firm’s 50-day moving average is $38.62 and its 200 day moving average is $49.80. The firm has a market capitalization of $2.24 billion, a P/E ratio of 9.37 and a beta of 0.62.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sentry Investment Management LLC increased its holdings in Spirit Airlines by 1.7% during the second quarter. Sentry Investment Management LLC now owns 54,044 shares of the transportation company’s stock worth $2,791,000 after buying an additional 888 shares during the last quarter. U S Global Investors Inc. increased its holdings in Spirit Airlines by 77.4% during the second quarter. U S Global Investors Inc. now owns 92,046 shares of the transportation company’s stock worth $3,574,000 after buying an additional 40,169 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Spirit Airlines during the second quarter worth $1,000,000. Verition Fund Management LLC acquired a new position in Spirit Airlines during the second quarter worth $1,407,000. Finally, Rockshelter Capital Management LLC increased its holdings in Spirit Airlines by 3.2% during the second quarter. Rockshelter Capital Management LLC now owns 256,478 shares of the transportation company’s stock worth $13,247,000 after buying an additional 7,985 shares during the last quarter. Institutional investors and hedge funds own 97.00% 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.

Earnings History and Estimates for Spirit Airlines (NASDAQ:SAVE)

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