Q4 2017 Earnings Forecast for Spirit Airlines Incorporated Issued By Imperial Capital (SAVE)

Spirit Airlines Incorporated (NASDAQ:SAVE) – Equities researchers at Imperial Capital increased their Q4 2017 earnings estimates for shares of Spirit Airlines in a research note issued on Thursday. Imperial Capital analyst M. Derchin now anticipates that the transportation company will earn $0.71 per share for the quarter, up from their prior forecast of $0.50. Imperial Capital has a “In-Line” rating and a $42.00 price objective on the stock. Imperial Capital also issued estimates for Spirit Airlines’ Q1 2018 earnings at $0.39 EPS, Q2 2018 earnings at $1.11 EPS, Q4 2018 earnings at $0.86 EPS and FY2018 earnings at $3.50 EPS.

Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings results on Thursday, October 26th. The transportation company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.04. Spirit Airlines had a return on equity of 15.86% and a net margin of 8.55%. The company had revenue of $687.20 million during the quarter, compared to the consensus estimate of $686.13 million. During the same period in the prior year, the company earned $1.24 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year.

A number of other research firms also recently issued reports on SAVE. Stifel Nicolaus downgraded Spirit Airlines from a “buy” rating to a “hold” rating and increased their price objective for the stock from $45.00 to $50.00 in a report on Monday, January 15th. Stephens reiterated a “buy” rating and set a $61.00 price objective on shares of Spirit Airlines in a report on Wednesday, January 10th. Cowen reiterated a “hold” rating and set a $49.00 price objective on shares of Spirit Airlines in a report on Tuesday, January 9th. Bank of America upgraded Spirit Airlines from a “neutral” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Tuesday, January 9th. Finally, Zacks Investment Research downgraded Spirit Airlines from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Spirit Airlines currently has an average rating of “Hold” and an average price target of $46.75.

Shares of Spirit Airlines (SAVE) opened at $45.19 on Monday. Spirit Airlines has a fifty-two week low of $30.32 and a fifty-two week high of $60.28. The stock has a market capitalization of $3,130.00, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.82 and a beta of 0.75. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Spirit Airlines announced that its board has authorized a stock buyback program on Thursday, October 26th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

In related news, VP John A. Bendoraitis sold 2,340 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $42.92, for a total transaction of $100,432.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SAVE. First Personal Financial Services lifted its position in shares of Spirit Airlines by 87.9% in the third quarter. First Personal Financial Services now owns 3,088 shares of the transportation company’s stock valued at $103,000 after buying an additional 1,445 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Spirit Airlines by 7.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company’s stock valued at $112,000 after buying an additional 141 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Spirit Airlines by 18.8% in the second quarter. Advisor Group Inc. now owns 2,170 shares of the transportation company’s stock valued at $113,000 after buying an additional 344 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Spirit Airlines in the third quarter valued at approximately $142,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Spirit Airlines in the fourth quarter valued at approximately $183,000.

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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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