Brokerages expect that Spirit Airlines Incorporated (NASDAQ:SAVE) will announce earnings of $1.25 per share for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Spirit Airlines’ earnings. The highest EPS estimate is $1.40 and the lowest is $0.58. Spirit Airlines reported earnings per share of $0.73 in the same quarter last year, which suggests a positive year-over-year growth rate of 71.2%. The firm is expected to announce its next quarterly earnings results on Tuesday, February 5th.
According to Zacks, analysts expect that Spirit Airlines will report full-year earnings of $4.22 per share for the current year, with EPS estimates ranging from $3.60 to $4.42. For the next year, analysts anticipate that the firm will report earnings of $5.47 per share, with EPS estimates ranging from $3.90 to $7.45. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Spirit Airlines.
Spirit Airlines (NASDAQ:SAVE) last issued its quarterly earnings data on Wednesday, October 24th. The transportation company reported $1.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.03. The company had revenue of $904.33 million for the quarter, compared to the consensus estimate of $904.05 million.
SAVE has been the subject of a number of analyst reports. Credit Suisse Group initiated coverage on Spirit Airlines in a research report on Monday, November 19th. They set a “neutral” rating and a $59.00 price objective for the company. BidaskClub raised Spirit Airlines from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 31st. Zacks Investment Research cut Spirit Airlines from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Cowen lifted their target price on Spirit Airlines from $55.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, November 27th. Finally, Macquarie lifted their target price on Spirit Airlines from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, August 28th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $61.25.
In other Spirit Airlines news, Director Robert D. Johnson sold 750 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $64.65, for a total value of $48,487.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Rocky Wiggins sold 566 shares of the business’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $47.89, for a total value of $27,105.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,816 shares of company stock worth $303,113. 0.33% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd boosted its position in Spirit Airlines by 147.4% in the second quarter. Point72 Hong Kong Ltd now owns 2,904 shares of the transportation company’s stock worth $106,000 after purchasing an additional 1,730 shares during the last quarter. United Services Automobile Association boosted its position in Spirit Airlines by 16.8% in the third quarter. United Services Automobile Association now owns 12,317 shares of the transportation company’s stock worth $579,000 after purchasing an additional 1,773 shares during the last quarter. SG Americas Securities LLC boosted its position in Spirit Airlines by 46.2% in the second quarter. SG Americas Securities LLC now owns 6,653 shares of the transportation company’s stock worth $242,000 after purchasing an additional 2,101 shares during the last quarter. Sei Investments Co. boosted its position in Spirit Airlines by 127.9% in the second quarter. Sei Investments Co. now owns 3,934 shares of the transportation company’s stock worth $143,000 after purchasing an additional 2,208 shares during the last quarter. Finally, Strs Ohio boosted its position in Spirit Airlines by 89.7% in the third quarter. Strs Ohio now owns 5,500 shares of the transportation company’s stock worth $258,000 after purchasing an additional 2,600 shares during the last quarter.
Shares of SAVE traded down $4.92 during mid-day trading on Friday, reaching $59.67. 2,046,305 shares of the company were exchanged, compared to its average volume of 1,328,920. Spirit Airlines has a 52 week low of $34.36 and a 52 week high of $65.35.
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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