Spirit Airlines (SAVE) to Release Earnings on Monday

Spirit Airlines (NYSE:SAVE) is scheduled to be issuing its quarterly earnings data before the market opens on Monday, May 6th. Analysts expect the company to announce earnings of ($1.46) per share for the quarter. Spirit Airlines has set its Q1 2024 guidance at EPS.Parties interested in listening to the company’s conference call can do so using this link.

Spirit Airlines (NYSE:SAVE) last released its quarterly earnings data on Thursday, February 8th. The company reported ($1.36) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.06. Spirit Airlines had a negative net margin of 8.34% and a negative return on equity of 26.38%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the business earned $0.12 EPS. Spirit Airlines’s revenue for the quarter was down 5.0% compared to the same quarter last year. On average, analysts expect Spirit Airlines to post $-3 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Spirit Airlines Price Performance

Shares of SAVE opened at $3.54 on Monday. Spirit Airlines has a 52 week low of $3.47 and a 52 week high of $19.69. The firm has a market cap of $387.56 million, a P/E ratio of -0.87 and a beta of 1.35. The firm’s 50-day simple moving average is $4.88 and its 200 day simple moving average is $9.74. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.90 and a current ratio of 0.90.

Spirit Airlines Dividend Announcement

The business also recently declared a dividend, which was paid on Thursday, February 29th. Investors of record on Friday, February 23rd were paid a $0.10 dividend. The ex-dividend date was Thursday, February 22nd.

Analyst Ratings Changes

SAVE has been the topic of a number of research reports. Citigroup decreased their price target on shares of Spirit Airlines from $4.00 to $3.85 and set a “sell” rating on the stock in a research note on Wednesday, April 17th. TD Cowen cut their price objective on shares of Spirit Airlines from $5.00 to $4.00 and set a “hold” rating for the company in a report on Tuesday, April 16th. Evercore ISI cut their price objective on shares of Spirit Airlines from $18.00 to $3.50 and set an “in-line” rating for the company in a report on Thursday, April 4th. Bank of America assumed coverage on shares of Spirit Airlines in a report on Wednesday, January 17th. They issued an “underperform” rating and a $5.00 price objective for the company. Finally, Susquehanna cut their price objective on shares of Spirit Airlines from $5.00 to $4.00 and set a “negative” rating for the company in a report on Tuesday, April 9th. Five research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $4.91.

About Spirit Airlines

Spirit Airlines, Inc provides airline services. The company also offers hotels and rental cars services. It serves 93 destinations in 15 countries in the United States, Latin America, and the Caribbean. As of December 31, 2023, the company operated a fleet of 205 Airbus single-aisle aircraft. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc in 1992.