Spirit Airlines, Inc. (SAVE) to Release Earnings on Monday
Spirit Airlines, Inc. (NASDAQ:SAVE) will be posting its quarterly earnings results before the market opens on Monday, October 23rd. Analysts expect Spirit Airlines to post earnings of $1.55 per share for the quarter.
Spirit Airlines (NASDAQ:SAVE) last announced its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.03. The company had revenue of $701.68 million during the quarter, compared to the consensus estimate of $702.29 million. Spirit Airlines had a return on equity of 17.96% and a net margin of 9.62%. Spirit Airlines’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.11 EPS. On average, analysts expect Spirit Airlines to post $2.74 EPS for the current fiscal year and $3.18 EPS for the next fiscal year.
Shares of Spirit Airlines, Inc. (SAVE) opened at 33.80 on Monday. The firm’s 50-day moving average price is $34.09 and its 200-day moving average price is $46.53. The stock has a market capitalization of $2.34 billion, a P/E ratio of 9.80 and a beta of 0.66. Spirit Airlines, Inc. has a one year low of $30.32 and a one year high of $60.40.
WARNING: This piece of content was originally reported by Daily Political and is the sole property of of Daily Political. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://www.dailypolitical.com/2017/10/16/spirit-airlines-inc-save-to-release-earnings-on-monday.html.
In other Spirit Airlines news, Director H. Mcintyre Gardner purchased 5,000 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were bought at an average price of $33.78 per share, with a total value of $168,900.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.
An institutional investor recently raised its position in Spirit Airlines stock. The Manufacturers Life Insurance Company grew its holdings in shares of Spirit Airlines, Inc. (NASDAQ:SAVE) by 7.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,160 shares of the transportation company’s stock after buying an additional 141 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Spirit Airlines were worth $112,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 96.99% of the company’s stock.
A number of research firms recently commented on SAVE. TheStreet downgraded Spirit Airlines from a “b-” rating to a “c+” rating in a research note on Monday, August 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $55.00 price target on shares of Spirit Airlines in a research note on Thursday, September 28th. Zacks Investment Research upgraded Spirit Airlines from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Morgan Stanley decreased their price target on Spirit Airlines from $54.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, August 17th. Finally, J P Morgan Chase & Co upgraded Spirit Airlines from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $56.00 to $45.00 in a research note on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $47.77.
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.
Receive News & Ratings for Spirit Airlines Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Airlines Inc. and related companies with MarketBeat.com's FREE daily email newsletter.