Analysts expect that Spirit Airlines Incorporated (NASDAQ:SAVE) will report $877.19 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Spirit Airlines’ earnings. The lowest sales estimate is $875.84 million and the highest is $879.00 million. Spirit Airlines posted sales of $687.23 million during the same quarter last year, which would indicate a positive year over year growth rate of 27.6%. The firm is scheduled to issue its next earnings results on Thursday, October 25th.
On average, analysts expect that Spirit Airlines will report full-year sales of $3.22 billion for the current fiscal year, with estimates ranging from $3.21 billion to $3.23 billion. For the next fiscal year, analysts expect that the firm will post sales of $3.71 billion per share, with estimates ranging from $3.65 billion to $3.76 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Spirit Airlines.
Spirit Airlines (NASDAQ:SAVE) last issued its earnings results on Wednesday, July 25th. The transportation company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.02. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. The business had revenue of $851.80 million for the quarter, compared to analysts’ expectations of $851.83 million. During the same quarter in the previous year, the firm posted $1.14 EPS. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year.
A number of equities research analysts have issued reports on the stock. Buckingham Research boosted their target price on shares of Spirit Airlines from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Wednesday, June 13th. Citigroup decreased their price target on shares of Spirit Airlines from $59.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, April 30th. BidaskClub raised shares of Spirit Airlines from a “sell” rating to a “hold” rating in a report on Saturday, April 21st. Jefferies Financial Group raised shares of Spirit Airlines from a “neutral” rating to a “buy” rating in a report on Monday, April 30th. Finally, Morgan Stanley upped their price target on shares of Spirit Airlines from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, July 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $50.08.
Several institutional investors have recently added to or reduced their stakes in SAVE. LPL Financial LLC purchased a new position in Spirit Airlines in the fourth quarter worth $209,000. Comerica Bank grew its position in Spirit Airlines by 3.7% in the first quarter. Comerica Bank now owns 71,224 shares of the transportation company’s stock worth $2,706,000 after acquiring an additional 2,560 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Spirit Airlines by 3.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 240,700 shares of the transportation company’s stock worth $8,903,000 after acquiring an additional 6,900 shares in the last quarter. Aviance Capital Partners LLC grew its position in Spirit Airlines by 8.5% in the first quarter. Aviance Capital Partners LLC now owns 20,836 shares of the transportation company’s stock worth $787,000 after acquiring an additional 1,634 shares in the last quarter. Finally, Boston Partners purchased a new position in Spirit Airlines in the first quarter worth $1,941,000.
SAVE stock traded up $0.80 during midday trading on Thursday, reaching $44.70. 796,156 shares of the company’s stock traded hands, compared to its average volume of 1,368,708. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Spirit Airlines has a 52 week low of $30.32 and a 52 week high of $48.81.
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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