Wall Street brokerages expect Spirit Airlines, Inc. (NASDAQ:SAVE) to announce earnings per share (EPS) of $0.49 for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Spirit Airlines’ earnings, with the lowest EPS estimate coming in at $0.46 and the highest estimate coming in at $0.50. Spirit Airlines reported earnings per share of $0.77 during the same quarter last year, which would suggest a negative year-over-year growth rate of 36.4%. The company is scheduled to issue its next quarterly earnings results on Tuesday, February 6th.

On average, analysts expect that Spirit Airlines will report full year earnings of $3.08 per share for the current year, with EPS estimates ranging from $3.05 to $3.10. For the next financial year, analysts forecast that the company will post earnings of $3.22 per share, with EPS estimates ranging from $2.75 to $3.70. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Spirit Airlines.

Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings data on Thursday, October 26th. The transportation company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. The company had revenue of $687.20 million during the quarter, compared to the consensus estimate of $686.13 million. During the same quarter in the prior year, the firm posted $1.24 earnings per share. Spirit Airlines’s revenue for the quarter was up 10.6% on a year-over-year basis.

Several brokerages have recently weighed in on SAVE. ValuEngine downgraded shares of Spirit Airlines from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Cowen and Company reiterated a “hold” rating and set a $45.00 target price on shares of Spirit Airlines in a research note on Friday, September 1st. Morgan Stanley reiterated an “equal weight” rating and set a $45.00 target price (down previously from $46.00) on shares of Spirit Airlines in a research note on Friday, September 1st. BidaskClub downgraded shares of Spirit Airlines from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Finally, Deutsche Bank AG reduced their price objective on shares of Spirit Airlines from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $41.00.

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Spirit Airlines (SAVE) traded down $0.54 during midday trading on Friday, reaching $35.28. 1,161,900 shares of the company’s stock traded hands, compared to its average volume of 1,425,058. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Spirit Airlines has a one year low of $30.32 and a one year high of $60.40. The firm has a market capitalization of $2,450.00, a P/E ratio of 10.66, a PEG ratio of 1.46 and a beta of 0.71.

Spirit Airlines declared that its Board of Directors has authorized a share buyback plan on Thursday, October 26th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the transportation company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

In related news, Director H. Mcintyre Gardner purchased 5,000 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were bought at an average price of $33.78 per share, for a total transaction of $168,900.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its position in shares of Spirit Airlines by 26.0% in the 1st quarter. Principal Financial Group Inc. now owns 11,995 shares of the transportation company’s stock worth $637,000 after purchasing an additional 2,473 shares during the last quarter. Heartland Advisors Inc. increased its position in shares of Spirit Airlines by 70.9% in the 2nd quarter. Heartland Advisors Inc. now owns 140,822 shares of the transportation company’s stock worth $7,273,000 after purchasing an additional 58,405 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Spirit Airlines by 4.0% in the 2nd quarter. Franklin Resources Inc. now owns 2,128,314 shares of the transportation company’s stock worth $109,927,000 after purchasing an additional 82,438 shares during the last quarter. Clinton Group Inc. bought a new stake in shares of Spirit Airlines in the 2nd quarter worth about $813,000. Finally, Boston Partners increased its position in shares of Spirit Airlines by 154.9% in the 2nd quarter. Boston Partners now owns 163,100 shares of the transportation company’s stock worth $8,424,000 after purchasing an additional 99,120 shares during the last quarter. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

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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