Spirit Airlines, Inc. (SAVE) Expected to Post Q4 2017 Earnings of $0.58 Per Share
Spirit Airlines, Inc. (NASDAQ:SAVE) – Investment analysts at Imperial Capital reduced their Q4 2017 earnings per share (EPS) estimates for Spirit Airlines in a note issued to investors on Thursday. Imperial Capital analyst M. Derchin now forecasts that the transportation company will earn $0.58 per share for the quarter, down from their previous forecast of $0.70. Imperial Capital currently has a “Outperform” rating on the stock.
Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.11 by $0.03. Spirit Airlines had a net margin of 9.62% and a return on equity of 17.96%. The business had revenue of $701.68 million during the quarter, compared to the consensus estimate of $702.29 million. During the same quarter in the prior year, the firm earned $1.11 EPS. The business’s revenue was up 20.1% on a year-over-year basis.
Other analysts have also issued research reports about the stock. Citigroup Inc. upgraded shares of Spirit Airlines from a “neutral” rating to a “buy” rating and lowered their target price for the company from $65.00 to $52.00 in a research note on Friday, July 28th. Deutsche Bank AG restated a “buy” rating and set a $54.00 price target (down previously from $69.00) on shares of Spirit Airlines in a research report on Sunday, July 30th. Bank of America Corporation lowered their price target on shares of Spirit Airlines from $75.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, June 30th. Stifel Nicolaus restated a “buy” rating and set a $55.00 price target (down previously from $75.00) on shares of Spirit Airlines in a research report on Sunday, July 30th. Finally, TheStreet downgraded shares of Spirit Airlines from a “b-” rating to a “c+” rating in a report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $51.63.
Shares of Spirit Airlines (NASDAQ:SAVE) opened at 33.10 on Friday. The company has a market cap of $2.30 billion, a P/E ratio of 9.59 and a beta of 0.62. Spirit Airlines has a 52 week low of $30.32 and a 52 week high of $60.40. The firm has a 50-day moving average of $38.12 and a 200 day moving average of $49.69.
A number of large investors have recently added to or reduced their stakes in SAVE. The Manufacturers Life Insurance Company increased its holdings in Spirit Airlines by 7.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,160 shares of the transportation company’s stock worth $112,000 after buying an additional 141 shares during the last quarter. Advisor Group Inc. increased its holdings in Spirit Airlines by 18.8% in the second quarter. Advisor Group Inc. now owns 2,170 shares of the transportation company’s stock worth $113,000 after buying an additional 344 shares during the last quarter. Intact Investment Management Inc. acquired a new position in Spirit Airlines in the second quarter worth approximately $238,000. Ramsey Quantitative Systems acquired a new position in Spirit Airlines in the second quarter worth approximately $281,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Spirit Airlines in the first quarter worth approximately $346,000. Hedge funds and other institutional investors own 97.00% of the company’s stock.
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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