Analysts Anticipate Spirit Airlines Incorporated (SAVE) Will Announce Quarterly Sales of $712.83 Million

Brokerages expect that Spirit Airlines Incorporated (NASDAQ:SAVE) will post $712.83 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Spirit Airlines’ earnings. The highest sales estimate is $717.60 million and the lowest is $707.00 million. Spirit Airlines posted sales of $591.75 million in the same quarter last year, which suggests a positive year over year growth rate of 20.5%. The business is scheduled to issue its next quarterly earnings results on Friday, April 27th.

According to Zacks, analysts expect that Spirit Airlines will report full year sales of $712.83 million for the current year, with estimates ranging from $3.19 billion to $3.32 billion. For the next financial year, analysts forecast that the firm will report sales of $3.59 billion per share, with estimates ranging from $3.11 billion to $3.78 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Spirit Airlines.

Spirit Airlines (NASDAQ:SAVE) last posted its quarterly earnings results on Tuesday, February 6th. The transportation company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The business had revenue of $667.00 million for the quarter, compared to analyst estimates of $666.12 million. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS.

Several research firms recently issued reports on SAVE. Stephens reiterated a “buy” rating and set a $61.00 price target on shares of Spirit Airlines in a research report on Wednesday, January 10th. Imperial Capital reiterated an “in-line” rating and set a $36.00 price target (up previously from $32.00) on shares of Spirit Airlines in a research report on Friday, October 27th. Macquarie upgraded shares of Spirit Airlines from a “neutral” rating to an “outperform” rating and set a $33.00 price target on the stock in a research report on Wednesday. Morgan Stanley reduced their price target on shares of Spirit Airlines from $43.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Stifel Nicolaus lowered shares of Spirit Airlines from a “buy” rating to a “hold” rating and increased their price target for the stock from $45.00 to $50.00 in a research report on Monday, January 15th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $47.33.

Shares of Spirit Airlines (NASDAQ SAVE) opened at $40.30 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a market cap of $2,800.00, a P/E ratio of 12.79, a P/E/G ratio of 1.82 and a beta of 0.60. Spirit Airlines has a 52-week low of $30.32 and a 52-week high of $60.28.

Spirit Airlines declared that its Board of Directors has approved a stock buyback plan on Thursday, October 26th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the transportation company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are 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 shares were sold at an average price of $42.92, for a total value of $100,432.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of SAVE. GSA Capital Partners LLP bought a new position in Spirit Airlines in the 2nd quarter valued at approximately $526,000. Vanguard Group Inc. lifted its stake in Spirit Airlines by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 5,438,753 shares of the transportation company’s stock valued at $280,912,000 after purchasing an additional 73,982 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Spirit Airlines by 2.2% during the second quarter. California Public Employees Retirement System now owns 137,400 shares of the transportation company’s stock valued at $7,097,000 after acquiring an additional 2,900 shares during the last quarter. Advisor Group Inc. raised its stake in shares of Spirit Airlines by 18.8% during the second quarter. Advisor Group Inc. now owns 2,170 shares of the transportation company’s stock valued at $113,000 after acquiring an additional 344 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of Spirit Airlines during the second quarter valued at $645,000.

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

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