Brokerages expect that Spirit Airlines Incorporated (NASDAQ:SAVE) will report $712.83 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Spirit Airlines’ earnings, with estimates ranging from $707.00 million to $717.60 million. Spirit Airlines reported sales of $591.75 million in the same quarter last year, which indicates a positive year-over-year growth rate of 20.5%. The firm is expected to report its next quarterly earnings report on Friday, April 27th.

On average, analysts expect that Spirit Airlines will report full-year sales of $712.83 million for the current fiscal year, with estimates ranging from $3.19 billion to $3.32 billion. For the next year, analysts anticipate that the business will post sales of $3.59 billion per share, with estimates ranging from $3.11 billion to $3.78 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Spirit Airlines.

Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings results on Tuesday, February 6th. The transportation company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The firm had revenue of $667.00 million for the quarter, compared to analysts’ expectations of $666.12 million. Spirit Airlines had a net margin of 8.55% and a return on equity of 15.86%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS.

Several research analysts have weighed in on SAVE shares. Imperial Capital reissued an “in-line” rating and issued a $36.00 price target (up from $32.00) on shares of Spirit Airlines in a report on Friday, October 27th. JPMorgan Chase & Co. lowered shares of Spirit Airlines from a “neutral” rating to an “underweight” rating and set a $39.00 target price on the stock. in a research report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Spirit Airlines from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Morgan Stanley increased their target price on shares of Spirit Airlines from $38.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. Finally, Buckingham Research increased their target price on shares of Spirit Airlines from $31.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Spirit Airlines currently has an average rating of “Hold” and a consensus target price of $47.33.

Spirit Airlines (NASDAQ SAVE) opened at $40.30 on Thursday. The firm has a market cap of $2,800.00, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.82 and a beta of 0.60. 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 fifty-two week low of $30.32 and a fifty-two week high of $60.28.

Spirit Airlines declared that its Board of Directors has initiated a share buyback program on Thursday, October 26th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the transportation company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

In other Spirit Airlines news, VP John A. Bendoraitis sold 2,340 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $42.92, for a total transaction of $100,432.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SAVE. First Personal Financial Services boosted its position in shares of Spirit Airlines by 87.9% during the 3rd quarter. First Personal Financial Services now owns 3,088 shares of the transportation company’s stock worth $103,000 after acquiring an additional 1,445 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Spirit Airlines by 7.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company’s stock worth $112,000 after acquiring an additional 141 shares in the last quarter. Advisor Group Inc. boosted its position in shares of Spirit Airlines by 18.8% during the 2nd quarter. Advisor Group Inc. now owns 2,170 shares of the transportation company’s stock worth $113,000 after acquiring an additional 344 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Spirit Airlines during the 3rd quarter worth approximately $142,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Spirit Airlines during the 4th quarter worth approximately $183,000.

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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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